Avail The Best ACC512 Management Accounting for Costs and Control Assignment Help By Professional Native Tutors..!!

Home   Course
Previous << || >> Next

DO YOU WANT TO EXCEL IN ACC512 MANAGEMENT ACCOUNTING FOR COSTS AND CONTROL ASSIGNMENT? HIRE TRUSTED TUTORS FROM EXPERTSMINDS AND ACHIEVE SUCCESS!

ACC512 Management Accounting for Costs and Control Assignment - Charles Sturt University, Australia

Question 1 - Budget

1. Prepare a revenue budget for the upcoming academic year.

Revenue budget for the upcoming year:

 No of students in the current year Growth No of students in the upcoming year 15000 5% 15750

 (in \$Mns) Revenue from students (15750x2x4x3500) 441 Academic Staff Salary (120000x262.5) 31.5 (15750/80 = 196.875x4/3 = 262.5) Awards distributed  (150 x 14000 x 2) 4.2 Surplus over expenditure 405.3

2. Determine the number of staff needed to cover classes.

No of staff needed:

No of classes: 15750/80 = 196.875

No of staff: 197 x 4/3 = 263

3. List at least five actions that Resort Island might take to accommodate the growing student numbers.

Action that can be taken:

• Increase the number of subjects per day
• Appointment of staff per time on an expertise basis
• Can outsource the teaching department to some student
• Can promote the teachers on an incentive basis
• Advertise the work culture of the organization

EXPERTSMINDS.COM ACCEPTS INSTANT AND SHORT DEADLINES ORDER FOR ACC512 MANAGEMENT ACCOUNTING FOR COSTS AND CONTROL ASSIGNMENT - ORDER TODAY FOR EXCELLENCE!

4. Does the DVC really understand the linkages with the budgeting process? Explain.

Yes DVC understands the linkages with the budgeting processes , as he says that since academic staff the biggest expense for the university is available , making other budgets will be comparately easy because a major of the expense is already chunked out.

Question 2 - Standard Costing

1. Calculate the number of standard clerical hours allowed in April, given the number of applications processed.

 Type Standard hours per Application Multiply: Number of Application Standard hours allowed Health 1 375 375 Life 1.5 300 450 Automobile 2 150 300 Renter 2 600 1,200 Homeowner 5 300 1,500 Total Standard hours allowed in April 3,825

2. Explain why the company's flexible budget should be based on the number of clerical hours allowed rather than on the number of applications processed.

The company's flexible budget should be based on a number of clerical hours allowed, rather than the number of applications processed since the number of clerical hours is the cost driver for variable overhead costs i.e. the budget will change on the basis of clerical hours.

3. Using Excel, construct a formula flexible overhead budget for the company, and calculate the flexible budget for total overhead cost in April. Include both the formula view and results view of your spreadsheet in your Word document.

 Good Health Insurance Company Flexible Budget: Overhead Cost For April Policy Application Category Activity Level ( Clerical Hours) Flexible Budget ( \$ ) Health 375 hrs \$ 3,750 Life 450 4,500 Automobile 300 3,000 Renter 1,200 12,000 Homeowner 1,500 15,000 Total Variable Overhead Cost 38,250 Fixed Overhead Cost 6,000 Budgeted Total Overhead Cost \$ 44,250

NEVER LOSE YOUR CHANCE TO EXCEL IN ACC512 MANAGEMENT ACCOUNTING FOR COSTS AND CONTROL ASSIGNMENT - HIRE BEST QUALITY TUTOR FOR ASSIGNMENT HELP!

Formula View:

 Type Standard hours per Application Multiply: Number of Application Standard hours allowed Health 1 375 =F5*G5 Life 1.5 300 =F6*G6 Automobile 2 150 =F7*G7 Renter 2 600 =F8*G8 Homeowner 5 300 =F9*G9 Total Standard hours allowed in April =SUM(H5:H9) Good Health Insurance Company Flexible Budget: Overhead Cost For April Policy Application Category Activity Level  (Clerical Hours) Flexible Budget ( \$ ) Health 375 =F17*10 Life 450 =F18*10 Automobile 300 =F19*10 Renter 1200 =F20*10 Homeowner 1500 =F21*10 Total Variable Overhead Cost =SUM(G17:G21) Fixed Overhead Cost 6000 Budgeted Total Overhead Cost =G22+G23

4. Prepare a short memorandum to the management of Good Health evaluating the benefits that standard costing systems can offer a business.

Standard costing facilitates budgetary control. The implementation of the standard costing method allows for comparing the actual processing overhead cost in each policy category with the flexible budget numbers. If the variances are found to be unfavourable, the originating causes should be investigated, and corrective action should be taken. This would go a long way in cost control and planning.

It would also help the management to realize whether realistic standards are being used or not. There is no point in using standards which are either not achievable or super easy to achieve.

ORDER NEW ACC512 MANAGEMENT ACCOUNTING FOR COSTS AND CONTROL ASSIGNMENT & GET 100% ORIGINAL SOLUTION AND QUALITY WRITTEN CONTENTS IN WELL FORMATS AND PROPER REFERENCING.

Question 3 - Activity based costing

1. Calculate the total overhead that should be assigned to the order for development of chemicals.

2. What is the overhead cost per box of chemicals?

 Machine Setup ( 4 x 3000) 12000 Material handling (3 x 10000) 30000 hazardous waste control ( 7.5 x 2000) 15000 Quality Control (112.5 x 10) 1125 Other overhead costs ( 15x500) 7500 Total overhead cost 65625 No of boxes in order 1000 Overhead cost per box 65.625

3. If Pix Photographic Supply wee to use a plant-wide predetermined overhead rate based on machine hours, calculate he rate per hour.

Overhead rate based on machine hours = 937500/20000 = 46.875 per machine hour.

4. Under the approach in requirement 3, how much overhead would be assigned to the order for development chemicals: 1. in total 2. per box of chemical?

500 x 46.875 =23437.5

Overhead cost per box of chemical = 23437.5/1000 = 23.4375 per box

 ABC Machine hour Difference Overhead cost per unit 65.625 23.437 42.188

GET GUARANTEED SATISFACTION OR MONEY BACK UNDER ACC512 MANAGEMENT ACCOUNTING FOR COSTS AND CONTROL ASSIGNMENT HELP SERVICES OF EXPERTSMINDS.COM - ORDER TODAY NEW COPY OF THIS ASSIGNMENT!

5. Explain why these two product costing systems result in such widely differing costs. Which system do you recommend? Why?

There is a wide difference in per box overhead cost , due to the allocation base.

ABC system allocates the accurate overheads , because it considers different activities with different cost drivers, instead of single plant wide rate.

Hence I will recommend the ABS system for cost allocation for accurate costing of products.

6. Calculate the unit cost of a production order for 100 specially coated plates used in film development.

Calculation of Unit cost:

 Machine Setup \$ 6,000 Material Handling 2,400 Hazardous Waste Control 2,250 Quality Control 337.50 Other Overhead 750 Total Overhead 11,737.50 Number of plates 100 Overhead cost per plate 117.375 Direct Materials 180 Direct Labor 60 Unit Cost \$ 357.375

Question 4 - Relevant information for decisions - Write a letter providing an analysis and a recommendation with respect to whether the banolide should be sold at split off or processed further. Also include in this letter the key issues that the management should consider when making the outsourcing decision.

To

The Management,

Cool Pool Ltd

Subject: Analysis and recommendation regarding kitrocide

Please find below analysis and our recommendation

Sales value after further processing(A) : \$20000

Additional Processing cost (B) : \$26,200

Recommendation:

The company should not process banolide further . Banolide should be sold at split-off thereby reducing the loss by \$6200, and the loss will be restricted to (12000-5000) = \$7000

Key Issues:

• Cost - Quality of product - Pricing
• Delivery Schedule - Service Level agreement
• Communication

DO WANT TO HIRE TUTOR FOR ORIGINAL ACC512 MANAGEMENT ACCOUNTING FOR COSTS AND CONTROL ASSIGNMENT SOLUTION? AVAIL QUALITY ACC512 MANAGEMENT ACCOUNTING FOR COSTS AND CONTROL ASSIGNMENT WRITING SERVICE AT BEST RATES!

Question 5 - Variable costing

1. Prepare an income statement for Slumberworld for the current year using: 1. absorption costing 2. variable costing

2. Which costing method, absorption costing or variable costing, shows a higher operating profit? Why?

3. What would be Slumberworld's finished goods inventory cost on 31 December, under: 1. absorption costing 2. variable costing.

4. Which costing method, variable or absorption, would you recommend to Slumberworld's management? Why?

 Absorption Costing Variable Costing Direct materials 8.00 8.00 Direct labor 4.00 4.00 Variable manufacturing overhead 2.40 2.40 Fixed manufacturing overhead (actual and planned) 5.00 Unit Product cost 19.40 14.40 a) Slumberworld Absorption Income Statement Units 13,500.00 Sales (@ \$60 per unit) 810,000.00 Cost of goods sold (@ \$19.40 per unit) 261,900.00 Gross margin 548,100.00 Fixed selling and administrative expenses 90,000.00 Variable selling and administrative expenses 13,500.00 Net operating income 444,600.00 Slumberworld Variable Income Statement Units 13,500.00 Sales (@ \$60 per unit) 810,000.00 Cost of goods sold (@ \$19.40 per unit) 261,900.00 Variable selling and administrative expenses 13,500.00 Contribution margin 534,600.00 Fixed selling and administrative expenses 90,000.00 Fixed manufacturing overhead (actual and planned) 75,000.00 Net operating income 369,600.00 b) Absorption costing has higher operating Income c) What would be Slumberworld's finished goods inventory cost on 31 December, under: absorption costing = 1500 units x 19.40 29,100.00 variable costing = 1500 units x 14.40 21,600.00 d) Absorption costing is a better option because fixed manufacturing overhead costs are expensed when the product is sold.

GETTING STUCK WITH SIMILAR ACC512 MANAGEMENT ACCOUNTING FOR COSTS AND CONTROL ASSIGNMENT? ENROL WITH EXPERTSMINDS'S ACC512 MANAGEMENT ACCOUNTING FOR COSTS AND CONTROL ASSIGNMENT HELP SERVICES AND GET DISTRESSED WITH YOUR ASSIGNMENT WORRIES!

Avail the best Charles Sturt University, Australia Assignment Help Services for related units and courses such as:-

• ACC501 Business Accounting & Finance Assignment Help
• ACC512 Management Accounting for Costs & Control Assignment Help
• ACC514 Financial Accounting Assignment Help
• ACC515 Accounting & Finance Assignment Help
• ACC518 Current Developments In Accounting Thought Assignment Help
• ACC525 Financial Accountability in the Public Sector Assignment Help
• ACC537 Social and Environmental Accounting Assignment Help
• ACC539 Accounting Information Systems Assignment Help
• ACC544 Decision Support Tools Assignment Help
• ACC549 Financial Literacy Assignment Help
• ACC566 Acc Systems and Processes Assignment Help
• ACC567 Financial Accounting Assignment Help
• ACC568 Auditing Assignment Help
• ACC585 Financial Statement Analysis and Valuation Assignment Help
Tag This :- EM201918HEM59ACC ACC512 Management Accounting for Costs and Control Assignment Help

Assignment Samples

 Sociological Journal Article Assignment Help sociological journal article assignment help - Summarize the sociological journal article: What was the purpose of the article? Communication Plan Paper Assignment Help communication plan paper assignment help - How you would draft public notification of the departmental growth and change, reassignments of patrol areas. Reflection on Selection Criteria Assignment Help reflection on selection criteria assignment help - the report is a reflection on the case in hr. what needs to be done in the given circumstances. Retail Management Assignment Help retail management assignment help - the paper is in relation to the analysis of a retailer which have its presence in the internet too. Financial Ratios Discussion Assignment Help financial ratios discussion assignment help - The report is about Financial ratios of the organization and specifically there is information about how they mean Theoretical Models for Working in Global Teams Assignment Help theoretical models for working in global teams assignment help - analysis of theoretical models and their use in developing global teams Social Judgement Assignment Help social judgement assignment help - it is observed that the incidents of prejudice and stereotyping in the community have increased in the recent times.

Get Academic Excellence with Best Skilled Tutor! Order Assignment Now!