Ask a question from expert

Ask now

Management Accounting: Solved Assignments and Essays - Desklib

Short answer questions for Management Accounting Assignment 1

19 Pages3305 Words132 Views
   

Added on  2023-04-23

About This Document

This document contains solved assignments and essays on Management Accounting. It includes schedules of goods manufactured, allocation of overhead costs, and cash budgets. The document also covers topics such as activity-based costing, sales budget, and direct material variance. The subject code, course name, and college/university are not mentioned.

Management Accounting: Solved Assignments and Essays - Desklib

Short answer questions for Management Accounting Assignment 1

   Added on 2023-04-23

BookmarkShareRelated Documents
Management Accounting
1
Management Accounting: Solved Assignments and Essays - Desklib_1
Table of Contents
Table of Contents.............................................................................................................................2
QUESTION 1...................................................................................................................................4
A): Schedule of goods manufactured for the period ending 31st march 2018.............................6
B): Complete the table.................................................................................................................7
C) (i) Calculation of total cost of job X10...................................................................................7
(ii) Undervaluation and over-valuation........................................................................................8
D): (i) Schedule of Equivalent unit..............................................................................................8
(ii): Total cost of finished goods..................................................................................................8
(iii) Total cost of finished good for the month of November......................................................8
(e): Allocation of cost to support department to manufacturing line 1 and 2.............................9
(f):(i) Calculation for EOQ..........................................................................................................9
(ii): Interpretation.......................................................................................................................10
(g): Allocate the joint manufacturing cost.................................................................................10
QUESTION 2.................................................................................................................................10
(a) Preparation of profit statement...........................................................................................10
(b): Allocation of the overhead cost to each activity.................................................................11
(c): Activity rate for each activity cost pool..............................................................................11
(d): Calculate the total overhead cost.........................................................................................12
(e): Preparing a profit statement................................................................................................13
(f): Indication of the activity based costing information...........................................................13
QUESTION 3.................................................................................................................................13
(a) (I) Sales Budget for the period ending December 2019.......................................................13
(a) (ii) Production Budget for the period ending December 2019.............................................14
(a) (iii) Direct material purchases Budget for the period ending December 2019.....................14
(b): Cash Budget for the period ending December 2019...........................................................16
QUESTION 4.................................................................................................................................16
(a): Use of Historic data.............................................................................................................16
(b): Difference............................................................................................................................17
(c) (i): Direct material variance..................................................................................................17
(ii): Calculation for direct labour rate variance..........................................................................17
Management Accounting: Solved Assignments and Essays - Desklib_2
(iii): Variable overhead spending...............................................................................................17
(iv): Fixed overhead volume variance.......................................................................................17
REFERENCES..............................................................................................................................19
3
Management Accounting: Solved Assignments and Essays - Desklib_3
QUESTION 1
Product A Product B Product Q
Budget
Units 3000 2000 600
hrs. 3 4 5
Direct Labor 13000 13000 13000
39000 52000 65000
Variable
Overhead 13000 13000 13000
39000 52000 65000
Total Cost 78000 104000 130000
Cost per unit 26 52
216.66666
7
Actual
production 1800 800 400
Hrs. 3 4 5
Direct Labor 12000 12000 12000
36000 48000 60000
Variable
Overhead 40000 40000 40000
Total Cost 76000 88000 100000
Cost per unit
42.222222
2 110 250
Direct
labor
Variable
o/h
Hrs. 13000 13000
Rate per
hour 2 4
Expenditur
e 26000 52000 budgeted
26000 40000 actual
Produc
t
Standard Time
Per Unit Budgeted Units
Total Standard
Hour
Actual Production
Units
Total
Production
Hour
A 3 3000 9000 1800 5400
B 4 2000 8000 800 3200
Q 5 500 2500 400 2000
Management Accounting: Solved Assignments and Essays - Desklib_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Cost Accounting & Costing Methods | Assignment
|8
|2001
|82

Intermediate Managerial Accounting
|5
|697
|216

Financial Accounting Exam Question 2022
|10
|1227
|17

Performance Management: Cost Absorption, Sensitivity Analysis, Target Costing
|12
|3217
|66

FNSACC507 Management Accounting Information - Practice Questions and Solutions
|8
|2079
|431

Budgetary Control System for Hospitality Business Industry
|10
|2389
|224