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Management Accounting Assignment - UCK furniture

Added on - 23 Nov 2020

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MANAGEMENTACCOUNTING
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 A) Preparing cost card of absorption and marginal costing.................................................11.2 Range of management accounting techniques......................................................................31.3 Interpretation of both absorption and marginal costing and merits and demerits................4TASK 2............................................................................................................................................52.1 Ascertaining the advantages and disadvantages of planning tools used in budgetary control.....................................................................................................................................................52.2 Using High-low methods in estimating the expenses...........................................................72.3 Analysing the purpose of budget and preparing the cash budgets........................................7TASK 3............................................................................................................................................83.1 Calculation of ratios.............................................................................................................83.2 Management accounting can improve financial performance of business...........................83.3 Discuss planning tools to reduce financial problems to achieve success..............................9CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
INTRODUCTIONThe managerial aspects of any business entity in the recent times is to bring theappropriate execution and administration of the internal environment which in turn will behelpful in making satisfactory improvements in the operational activities of the business. In thepresent report there will be discussion based on various analysis made on operational practices ofUCK furniture on the basis of cash flows, income statement and ratio analysis.TASK 11.1 A) Preparing cost card of absorption and marginal costingIncome statement undermarginal costing for JanuaryAmountSales revenue(9000*35)315000Less Cost of salesDirect materials(11000*12)132000Direct labour(11000*8)88000Overheads(11000*5)55000275000Contribution40000Less: Variable selling cost11000Fixed selling cost2000Fixed production overheads2000033000Gross profit7000Income statement undermarginal costing for FebruaryAmount1
Sales revenue(11500*35)402500Less Cost of salesDirect materials(11000*12)114000Direct labour(11000*8)76000Overheads(11000*5)47500237500Contribution165000Less: Variable selling cost11000Fixed selling cost2000Fixed production overheads2000033000Gross profit132000Absorption costingIncome statement underabsorption costing for JanuaryAmountSales revenue(9000*35)315000Less Cost of salesDirect materials(11000*12)132000Direct labour(11000*8)88000Overheads(11000*5)55000275000Contribution40000Less: Variable selling cost11000Fixed selling cost20002
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