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MANAGEMENT ACCOUNTING FOR COST & CONTROL.

Added on - 30 Oct 2019

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Running head: MANAGEMENT ACCOUNTING FOR COST & CONTROLManagement Accounting for Cost & ControlName of the UniversityName of the studentAuthors note
1MANAGEMENT ACCOUNTING FOR COST & CONTROLTable of ContentsAnswer to Question 1:................................................................................................................2Requirement a:.......................................................................................................................2Requirement B:......................................................................................................................3Answer to Question 2:................................................................................................................3Answer to Question 3:................................................................................................................6Requirement a:.......................................................................................................................6Requirement b:.......................................................................................................................6Answer to Question 4:................................................................................................................7Requirement a:.......................................................................................................................7Requirement b:.......................................................................................................................9Answer to Question 5:..............................................................................................................10Requirement A:....................................................................................................................10Requirement B:....................................................................................................................11References:...............................................................................................................................13
2MANAGEMENT ACCOUNTING FOR COST & CONTROLAnswer 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/d250003101031010DR.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/d89003890038900DR.CR.DateParticularsAmountDateParticularsAmount31/8/X4To, Finished Goods A/c.3000031/8/X4By, Profit & Loss A/c.32800To, ManufacturingOverhead A/c.28003280032800Direct Material AccountFinished GoodsCost of Goods Sold
3MANAGEMENT ACCOUNTING FOR COST & CONTROLDR.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.60103951039510DR.CR.DateParticularsAmountDateParticularsAmount31/8/X4To, Bank A/c.67001/8/X4By, Balance b/d234531/8/X4To, Balance c/d1800By, Direct Material A/c.615585008500Work-in-ProcessAccounts PayableRequirement B:The cost accounting format used for constructing the great pyramid of Giza 4500years ago and its construction now has wide differences. Pyramid was constructed then usingthe traditional approach involving stages of planning, initiating, executing, designing andclosing. However, there were some constraint faced in the pyramid construction and theapplication of modern cost management accounting would involve different techniques ofconstruction. Using the modern concept, processed cost accounting would be consideredappropriate for the construction of great pyramid of Giza. The construction cost would bemanaged by segregation of cost and where cost of each unit of products is assumed to besame of other (Fullerton et al. 2013). Actual production cost can be easily assigned using themodern techniques.Answer to Question 2:Computation of Equivalent Units:
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