MANAGEMENT ACCOUNTING TABLE OF CONTENTS INTRODUCTION 5 Q1.5 a) Classification of cost 5 Q2.7 b) Analysis of inventory 7 Q3. Method 8

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Preparation of cash budget 13 TASK 314 Q9) 4.2 Comparison of budgeted and actual profit for Smart Looks Ltd 14 CONCLUSION 17 REFERENCES 18 Index of Tables Table 1: Calculation of total costs and unit costs7 Table 2: Analysis of cost data 7 Table 3: FIFO Method8 Table 4: LIFO Method8 Table 5: Average Cost Method 9 Table 6: Sales Budget 12 Table 7: Production budget12 Table 8: Raw Material purchases budget 12 Table 9: Labor budget 13 Table 10: overhead budget 13 Table 11: Cash Budget 14

MANAGEMENT ACCOUNTING TABLE OF CONTENTS INTRODUCTION 5 Q1.5 a) Classification of cost 5 Q2.7 b) Analysis of inventory 7 Q3. Method 8

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MANAGEMENT ACCOUNTING
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................5TASK 1............................................................................................................................................5Q1...........................................................................................................................................5a) Classify the costs into Fixed, Variable and Semi-variable cost.........................................5b) Explain other ways of classifying cost...............................................................................5Q2...........................................................................................................................................7a) Calculate total and unit costs.............................................................................................7b) Analyze the cost data.........................................................................................................7Q3. Calculation of inventory..................................................................................................81.FIFO Method ......................................................................................................................82.LIFO Method.......................................................................................................................83.Average Cost Method..........................................................................................................9Q4. Prepare report of cost of goods sold................................................................................9Q5.........................................................................................................................................10a) Suggest 2 critical factors and performance indicators .....................................................10B (1) How costs can be reduced...........................................................................................10B (2) How value and quality can be enhanced.....................................................................11TASK 2..........................................................................................................................................11Q6. Usefulness of preparing budget.....................................................................................11Q7. Preparation of budgets...................................................................................................12Q8. Preparation of cash budget............................................................................................13TASK 3..........................................................................................................................................14Q9) 4.2 Comparison of budgeted and actual profit for Smart Looks Ltd............................14Computation of selling price by considering the marginal costing technique.....................14CONCLUSION..............................................................................................................................17REFERENCES..............................................................................................................................18
Index of TablesTable 1: Calculation of total costs and unit costs...........................................................................7Table 2: Analysis of cost data..........................................................................................................7Table 3: FIFO Method.....................................................................................................................8Table 4: LIFO Method.....................................................................................................................8Table 5: Average Cost Method........................................................................................................9Table 6: Sales Budget....................................................................................................................12Table 7: Production budget............................................................................................................12Table 8: Raw Material purchases budget.......................................................................................12Table 9: Labor budget....................................................................................................................13Table 10: overhead budget.............................................................................................................13Table 11: Cash Budget...................................................................................................................14
Illustration IndexIllustration 1: Cost Classificationsource:http://www.yourarticlelibrary.com..................................6

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