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ACT202: Management Accounting Assignment

   

Added on  2021-05-31

24 Pages2209 Words47 Views
Running head: MANAGEMENT ACCOUNTING MANAGEMENT ACCOUNTINGName of the Student:Name of the University:Author’s Note:

MANAGEMENT ACCOUNTING1Table of ContentsAssignment Code: ACT202.............................................................................................................2Part A...........................................................................................................................................2Preparation of Master Budget......................................................................................................2Part B...........................................................................................................................................8Part C...........................................................................................................................................9Assignment Code: ACT 204..........................................................................................................11Answer to Question 1................................................................................................................11Answer to Question 2................................................................................................................12Answer to Question 3................................................................................................................15Answer to Question 4:...............................................................................................................16Reference.......................................................................................................................................21

MANAGEMENT ACCOUNTING2Assignment Code: ACT202Part APreparation of Master BudgetSales Budget:ParticularsJanuaryFebruaryMarchAprilSales Volume in units41000328003690049200Selling Price per unit$3,850.00$3,850.00$3,850.00$3,850.00Budgeted Sales Revenue$1578,50,000$1262,80,000$1420,65,000$1894,20,000Production Budget:ParticularsJanuaryFebruaryMarchAprilSales Volume in units41000328003690049200Add: Closing Inventory of Finished Goods656073809840475604018046740Less: Opening Inventory of Finished Goods2620065607380Budgeted Production Volume213603362039360

MANAGEMENT ACCOUNTING3Direct Labour Budget:ParticularsJanuaryFebruaryMarchBudgeted Production Volume213603362039360Labor Hours required per unit555Total Direct Labor Hour Required 106800168100196800Direct Labor Cost per Hour$30.00$30.00$30.00Budgeted Direct Labor Cost$32,04,000$50,43,000$59,04,000QuartersPurchase Budget:ParticularsJanuaryFebruaryMarchAprilBudgeted Sales Volume41000328003690049200Budgeted Production Volume213603362039360Fuse required per unit 222Total Fuse Required427206724078720Add: Closing Inventory of Fuse39360442805904082080111520137760Less: Opening Inventory of Fuse492003936044280Budgeted Purchase Volume (in units)328807216093480Fuse Cost per unit$49.00$49.00$49.00Total Cost of Fuse$16,11,120$35,35,840$45,80,520Isolators required per unit 3333Total Isolators Required64080100860118080Add: Closing Inventory of Isolators590406642088560123120167280206640Less: Opening Inventory of Isolators738005904066420Budgeted Purchase Volume (in units)49320108240140220Isolators Cost per unit$66.00$66.00$66.00Total Cost of Isolators$42,29,280$66,56,760$77,93,280Budgeted Direct Material Purchase$58,40,400$101,92,600$123,73,800

MANAGEMENT ACCOUNTING4Direct Material Budget:ParticularsJanuaryFebruaryMarchTotal Fuse required for Production427206724078720Fuse Cost per unit$49.00$49.00$49.00Total Fuse Cost $20,93,280$32,94,760$38,57,280Total Isolators required for Production64080100860118080Isolators Cost per unit$66.00$66.00$66.00Total Isolators Cost $42,29,280$66,56,760$77,93,280Budgeted Direct Material Cost$63,22,560$99,51,520$116,50,560Manufacturing Overhead Budget:ParticularsJanuaryFebruaryMarchDirect Labour Hour106800168100196800Indirect Labor Cost per DLH$34.44$34.44$34.44Total Indirect Labor Cost$36,78,192$57,89,364$67,77,792Power Cost per DLH$3.28$3.28$3.28Total Power Cost$3,50,304$5,51,368$6,45,504Variable Maintenance Cost per unit$37.78$37.78$37.78Variable Maintenance Cost$40,34,667$63,50,444$74,34,667Fixed Maintenance$186,50,444$186,50,444$186,50,444Total Maintenance Costs$226,85,111$250,00,889$260,85,111Other Variable Cost per unit$24.60$24.60$24.60Other Variable Cost$26,27,280$41,35,260$48,41,280Other Fixed Cost$82,00,000$82,00,000$82,00,000Other Manufacturing Costs$108,27,280$123,35,260$130,41,280Supervision$229,60,000$229,60,000$229,60,000Depreciation$20,50,000$20,50,000$20,50,000Rates & Utilities$16,94,100$16,94,100$16,94,100Budgeted Manufacturing Overhead $642,44,987$703,80,981$732,53,787

MANAGEMENT ACCOUNTING5Cash Collection from Debtors:ParticularsJanuaryFebruaryMarchTotal Sales Revenue$1578,50,000$1262,80,000$1420,65,000Collection in the month of Sales$315,70,000$252,56,000$284,13,000Collection in the following month of Sales$1056,39,300$1231,23,000$984,98,400Total Collection from Debtors$1372,09,300$1483,79,000$1269,11,400Cash Payment of Selling & Administration Expenses:ParticularsJanuaryFebruaryMarchToatl Selling & Administrative Expenses$384,37,500$307,50,000$345,93,750Due from Debtors$1354,35,000$1578,50,000$1262,80,000Bad Debts @2%-$27,08,700-$31,57,000-$25,25,600Cash Payment for Selling & Administration Expenses$357,28,800$275,93,000$320,68,150

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