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Management Accounting - question and answer

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Added on  2019-10-30

Management Accounting - question and answer

   Added on 2019-10-30

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Running head: MANAGEMENT ACCOUNTINGManagement AccountingName of the UniversityName of the studentAuthors note
Management Accounting - question and answer_1
MANAGEMENT ACCOUNTING1Table of ContentsAnswer to Question 1:................................................................................................................2Requirement A:......................................................................................................................2Requirement B:......................................................................................................................3Answer to Question 2:................................................................................................................4Answer to Question 3:................................................................................................................5Answer to Question 4:................................................................................................................7Answer to Question 5...............................................................................................................11Part B........................................................................................................................................12References:...............................................................................................................................13
Management Accounting - question and answer_2
MANAGEMENT ACCOUNTING2Answer to Question 1:Requirement A:DR.CR.DateParticularsAmountDateParticularsAmountTo, Balance b/d.2485531/8/14By, Work-in-Process A/c.6010To, Accounts Payable A/c.6155By, Balance c/d250003101031010Direct Material AccountDR.CR.DateParticularsAmountDateParticularsAmount1/8/X4To, Balance b/d670031/8/X4By, Finished Goods A/c.30110To, Direct Labor A/c.14800By, Balance c/d9400To, Manufacturing Overhead A/c.12000To, Direct Material A/c.60103951039510Work-in-ProcessDR.CR.DateParticularsAmountDateParticularsAmount1/8/X4To, Balance b/d879031/8/X4By, Cost of Goods Sold A/c.3000031/8/X4To, Work-in-Process A/c.30110By,Balance c/d89003890038900Finished GoodsDR.CR.DateParticularsAmountDateParticularsAmount31/8/X4To, Bank A/c.67001/8/X4By, Balance b/d234531/8/X4To, Balance c/d1800By, Direct Material A/c.615585008500Accounts Payable
Management Accounting - question and answer_3
MANAGEMENT ACCOUNTING3DR.CR.DateParticularsAmountDateParticularsAmount31/8/X4To, Finished Goods A/c.3000031/8/X4By, Profit & Loss A/c.32800To, Manufacturing Overhead A/c.28003280032800Cost of Goods SoldRequirement B:The Construction of the great Pyramid of Giza now and construction of the same in4500 years makes a huge difference. Traditional approach is required in constructing apyramid in which numerous steps are amalgamated such as commencement, planning,designing, implementing and finally finishing. In the process of construction of the pyramidthere were several limitation such as cost of construction, techniques involved, amount ofresources, etc. Reduction of such limitation and variance in the technique of construction canbe bought about through the application and utilization of modern cost managementaccounting (Cost, 2016).Hence, the solicitation of processed cost accounting technique might be suitable forthe construction of the great pyramid in recent times. The process can aid in isolation of costthat further in turn would aid in regulating the cost of construction. In case of processedaccounting per unit cost of the products is considered to be of equal cost with that of the otherunit. Whenever a wide mixture of products are prepared, processed costing is consideredhelpful as it is based on standard costing (DRURY, 2013). Moreover, without theidentification of the actual cost construction of pyramid is quite difficult. However,determination of the actual cost of product would be identified through enactment ofprocessed costing.
Management Accounting - question and answer_4

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