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Introduction to Management Accounting Assignment Sample

   

Added on  2021-06-17

11 Pages1351 Words35 Views
INTRODUCTION TO MANAGEMENTACCOUNTING1
Introduction to Management Accounting Assignment Sample_1
ContentsSolution 1:.............................................................................................................................................3Solution 2:.............................................................................................................................................4Solution 3:.............................................................................................................................................6Solution 4:.............................................................................................................................................8Solution 5:.............................................................................................................................................9Bibliography........................................................................................................................................112
Introduction to Management Accounting Assignment Sample_2
Solution 1:Statement of Cost- Traditional ApproachParticulars Basic Model Advance ModelUnits produced and sold 1,600 1,500Direct Material cost per unit 325 560Direct Labour cost per unit 150 260Total Material Cost 5,20,000 8,40,000Total Labour cost 2,40,000 3,90,000Total Allocated Overhead cost 1,43,750 1,06,250Cost related only to advance Model Selling and Administration expenses - 1,40,600 Interest Expense - 25,200 Office Rent - 35,900Total Cost 9,03,750 15,37,950Cost Price Per unit 565 1,025Allocation of Overhead under Traditional approachParticulars Amount Inspection 20,000Assembly 90,000Production Scheduling 1,05,000Machine set-up 35,000Total Overhead 2,50,000Total Machine Hours consumed 8,000Overhead per Machine Hour 31 Overhead Allocated to Basic Model 1,43,750 Overhead Allocated to Advance Model 1,06,2503
Introduction to Management Accounting Assignment Sample_3
Solution 2:Statement of Cost- ABC approachParticulars Basic Model Advance ModelUnits produced and sold 1,600 1,500Direct Material cost per unit 325 560Direct Labour cost per unit 150 260Total Material Cost 5,20,000 8,40,000Total Labour cost 2,40,000 3,90,000Total Allocated Overhead cost 75,506 1,74,494Cost related only to advance Model Selling and Administration expenses - 1,40,600 Interest Expense - 25,200 Office Rent - 35,900Total Cost 8,35,506 16,06,194Cost Price Per unit 522 1,071Allocation of Overhead-ABC ApproachParticularsInspectionAssemblyProduction SchedulingMachine set-upTotal CostCost20,000 90,000 1,05,000 35,000 2,50,000 Consumption of resource- units950 8,000 550 350 Cost per unit21 11 191 100 Units for Basic Model200 4,600 50 100 Units for Advance Model750 3,400 500 250 Total Overhead for Basic Model4,211 51,750 9,545 10,000 75,506 Total Overhead for Advance Model15,789 38,250 95,455 25,000 1,74,494 4
Introduction to Management Accounting Assignment Sample_4

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