Assignment on Management Accounting for Cost & Control

Running head: MANAGEMENT ACCOUNTING FOR COST & CONTROL
Management Accounting for Cost & Control
Name of the Student:
Name of the University:
Author’s Note:

1MANAGEMENT ACCOUNTING FOR COST & CONTROL
Table of Contents
Answer to Question No 1................................................................................................................2
Requirement A:............................................................................................................................2
Requirement B:............................................................................................................................3
Answer to Question No 2................................................................................................................4
Answer to Question No 3................................................................................................................6
Requirement a:.............................................................................................................................6
Requirement b:.............................................................................................................................6
Answer to Question 4:.....................................................................................................................7
Requirement a:.............................................................................................................................7
Requirement b:.............................................................................................................................9
Answer to Question No 5..............................................................................................................11
Requirement A:..........................................................................................................................11
Requirement B:..........................................................................................................................12
Reference List................................................................................................................................14

2MANAGEMENT ACCOUNTING FOR COST & CONTROL
Answer to Question No 1
Requirement A:
DR. CR.
Date Particulars Amount Date Particulars Amount
To, Balanceb/d. 24855 31/8/14 By, Work-in-ProcessA/c. 6010
To, AccountsPayableA/c. 6155 By, Balancec/d 25000
31010 31010
DR. CR.
Date Particulars Amount Date Particulars Amount
1/8/X4 To, Balanceb/d 8790 31/8/X4 By, Cost of GoodsSold A/c. 30000
31/8/X4 To, Work-in-ProcessA/c. 30110 By,Balancec/d 8900
38900 38900
DR. CR.
Date Particulars Amount Date Particulars Amount
31/8/X4 To, Finished GoodsA/c. 30000 31/8/X4 By, Profit & LossA/c. 32800
To, Manufacturing
Overhead A/c. 2800
32800 32800
DirectMaterial Account
FinishedGoods
Costof GoodsSold

3MANAGEMENT ACCOUNTING FOR COST & CONTROL
DR. CR.
Date Particulars Amount Date Particulars Amount
1/8/X4 To, Balance b/d 6700 31/8/X4 By, Finished GoodsA/c. 30110
To, Direct Labor A/c. 14800 By, Balance c/d 9400
To, ManufacturingOverhead A/c. 12000
To, Direct Material A/c. 6010
39510 39510
DR. CR.
Date Particulars Amount Date Particulars Amount
31/8/X4 To, BankA/c. 6700 1/8/X4 By, Balance b/d 2345
31/8/X4 To, Balance c/d 1800 By, Direct Material A/c. 6155
8500 8500
Work-in-Process
AccountsPayable
Requirement B:
There has been an existence of vast variation in the development of the great Pyramid of
Giza when it was constructed 4500 years ago. The development of the Giza pyramid required the
use of traditional methods that were inclusive of several stages like the execution, planning,
designing, initiation and closing. There were certain restraints with respect to the development of
the great pyramid that were inclusive of the resources, techniques and the costs (Alawattage et
al., 2017). The introduction of the innovative cost management accounting mechanism would
lead to a transformation in the difference among the mechanism utilised for the intention of
development along with the eradication of the restraints that have been explained earlier.
In this aspect, which is in association to the development of the great pyramid, the
incorporation of the process costing would be suitable. It would be supportive for the dissecting
of the cost that would aid in managing the construction cost. The cost per unit of the products has
been predicted to be the cost that is related to the cost discovered in the process costing (Otley,