代写 110.229 Management Accounting
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School of Accountancy
110.229
Management Accounting
Assignment 1 Booklet
Distance Learning / Internal
Semester 1 – 2016
ii
THIS MATERIAL IS PROTECTED BY COPYRIGHT AND HAS BEEN COPIED BY AND SOLELY
FOR THE EDUCATIONAL PURPOSES OF THE UNIVERSITY UNDER LICENCE. YOU MAY
NOT SELL, ALTER OR FURTHER REPRODUCE OR DISTRIBUTE ANY PART OF THIS
COURSE PACK/MATERIAL TO ANY OTHER PERSON. WHERE PROVIDED TO YOU IN
ELECTRONIC FORMAT, YOU MAY ONLY PRINT FROM IT FOR YOUR OWN PRIVATE
STUDY AND RESEARCH. FAILURE TO COMPLY WITH THE TERMS OF THIS WARNING
MAY EXPOSE YOU TO LEGAL ACTION FOR COPYRIGHT INFRINGEMENT AND/OR
DISCIPLINARY ACTION BY THE UNIVERSITY.
iii
Contents
Page
I MPORTANT I NFORMATION ........................................................................................................ 1
A SSIGNMENT 1 G ENERAL I NSTRUCTIONS ................................................................................. 2
A SSIGNMENT 1 D ETAILS ............................................................................................................ 7
Question 1: Job Order Costing .............................................................................................. 7
Question 2: Process Costing .................................................................................................. 8
Question 3: Overhead Allocation ........................................................................................ 10
1601/110.229 Assignment 1 Booklet
Distance/Internal Manawatu/Albany
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I MPORTANT I NFORMATION
This is an electronic assignment and must be completed in the “Assignment 1 Answer
Booklet” to be downloaded from Stream, completed by you, and then uploaded back to
Stream before the due date and time. To enable your assignment to be marked, you must
NOT alter the templates e.g. add or delete rows or columns. There is sufficient space.
To have your assignment marked you must also complete the honesty declaration quiz
on Stream before submitting this assignment.
Assignment 1 contributes 15% towards your final grade. It consists of three questions.
Please note that Assignment 1 is due before 12:00 noon (Midday) New Zealand Time on
22 April 2016.
It is very important that you complete the first worksheet (Cover Sheet) with your
current details.
Assignment 1 covers material from weeks 1 to week 5 inclusive and relate to the following
learning outcomes:
1. Demonstrate ability to measure and interpret accounting data.
2. Apply appropriate management accounting principles and concepts to solve practical
management problems.
3. Critically evaluate the relevance and applicability of traditional management
accounting techniques to the management of modern organisations in both the
manufacturing and service sectors.
Before attempting this assignment, it is strongly recommended that you read both instructions
and the assignment details thoroughly. You should also study the relevant material in the text
and make sure you understand the concepts covered by practicing the weekly review and
workshop questions.
Please remember that this assignment must be your own work. Discussion on STREAM or in
study groups is fine, but comparing or suggesting answers as opposed to concepts may lead to
marks being deducted to the extent of receiving zero marks if answers are too identical.
1601/110.229 Assignment 1 Booklet
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A SSIGNMENT 1 G ENERAL I NSTRUCTIONS
1. How to Download This Assignment from STREAM
There are two files, “Assignment 1 Booklet.pdf” and “Assignment 1 Answer Booklet.xlsx”,
to be downloaded to complete this assignment.
(a) Assignment 1 Booklet
Procedure to download Assignment 1 Booklet:
• Log on to STREAM for paper 110.229.
• Go to the Assessment section, scroll down to the Assignment 1 subheading, and then
click on the folder, “Assignment 1 Files,” and then click on the relevant file (PDF
file) to download, i.e. “Assignment 1 Booklet”.
• Choose “Save File” and give the destination where you would like to keep the file.
(b) Assignment 1 Answer Booklet
Procedure to download the Assignment 1 Answer Booklet.
• Log on to STREAM for paper 110.229.
• Go to the Assessment section, scroll down to the Assignment 1 subheading, and then
click on the folder, “Assignment 1 Files”, and then click on the relevant file (Excel
file) to download, i.e. “Assignment 1 Answer Booklet.xlsx”.
• Choose “Save File” and give the destination where you would like to keep the file.
Please note if you try to modify Assignment 1 Answer Booklet without downloading and
saving first, your modifications will NOT be saved. You may download the Answer
Booklet as often as you wish. Once you have started working on the Answer Booklet you
should make backups.
Remember to include your name and ID on the cover page of Assignment 1 Answer
Booklet. In the past, students have run the risk of receiving no marks for all their hard work
by failing to include the vital details, such as their name and ID on the booklet itself
(remember we sometimes have more than one person with exactly the same name).
Contact the relevant paper coordinator if you have any problems with downloading the files
from STREAM.
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2. How to Complete the Assignment 1
Use the Assignment 1 Answer Booklet provided on Stream to write your answers.
The Assignment 1 Answer Booklet is made of 6 worksheets as listed below:
(1) Cover Sheet
(2) Marking Summary: Your marks for Assignment 1
(3) Q1: APC
(4) Q2: Manawatu Company
(5) Q3 Part A – Nice Farm Machines Ltd
(6) Q3 Part B – Smith Ltd
• Do not change the format of the templates in any way i.e. do not add or delete
rows or columns. If you need more rows and columns you are completing the
assignment incorrectly.
• Complete your current details in the first worksheet Cover Sheet.
• Read the appropriate material and work through the weekly review questions before
or as you complete this assignment.
• Read the information carefully and attempt ALL questions including all parts to each
question by completing the Assignment 1 Answer Booklet provided on STREAM.
• Do NOT copy questions onto the Assignment 1 Answer Booklets. Write your answers
on the appropriate (labelled) pages. Do NOT write an answer on a page allocated to
another question.
• Make certain you keep backups of your work. It pays to rename different versions of
your work. A simple way to do this is to use the Save as function and add a number or
letter to the end of the file name. This allows you to go back to an earlier version.
• Please use the following naming convention for the files you are submitting to
STREAM: Last Name Student ID Number then “_229”. For example, if your last
name is Smith and Student ID number is 88888888, your file name will be
“Smith88888888_229.xlsx” (file extensions may differ, depending on which software
versions you are using). Do NOT use a space in your file name.
• Marks will be awarded for clear, logical explanations/discussions and evidence of
careful and well thought out research and computation accuracy.
• In order to have your assignment marked, please follow the above instructions
carefully. Failure to do so may lead to Zero marks for this assignment. If you have
any queries regarding the instructions, please contact the teaching staff.
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3. How to Submit the Assignment 1
Assignment 1 should be submitted on or before 12:00 noon (Midday) New Zealand time
on Friday 22 April 2016. This assignment allows one submission only.
Procedure to upload your Assignment 1:
• Log on to 110.229 Stream site and click on the “Assignment 1 Individual Submission
Point” under the Assignment 1 subheading within the Assessment section.
• You will see “Submission Draft” in large letters and below that a button with “Upload
Files” on it. Click on this.
• If you are using Google Chrome or Firefox you will then be able to drag and drop
your files into the box. Save these.
• If you are using Internet Explorer you will have to select “Add” which will take you
to the “File Picker” and you should then follow through the steps to upload your files,
one at a time. However this step may be problematic.
• Ignore the “Export to portfolio” item but if you want to remove a file you can use the
“Edit these files” button.
• Once your file is showing as uploaded and you are satisfied that the correct file has
been uploaded, under the “Final submission for assignment marking” click on the
“Send for Marking” button. You will see a message saying: “Once the assignment is
sent for marking, you will no longer be able to delete or attach file(s). Do you want
to continue?” Click on Yes.
• The screen will now show the following message: “Congratulations your assignment
file has been successfully submitted for marking”. The date and time you submitted
will show in the top right corner of the page and the files you submitted will be
showing under Submission.
Contact the teaching staff if you have any queries regarding the above instructions.
4. Extensions (if any) and Late Submissions
As a general rule, in professional life deadlines must be met: if a paper is due by 3pm
Thursday for a Board meeting, the paper simply has to be ready at that time, and
professionals must do whatever is necessary to organise their activities to meet the deadline.
My starting point for this course is the same, but I can make reasonable allowances at the
margin. You know the deadlines, and my expectation is that you will have taken all
reasonable steps to meet them. I accept that, rarely, something happens which could not
reasonably have been foreseen and which disrupts your realistic plans. Applications for
extensions, therefore, will have the following characteristics:
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1. The event could not reasonably have been foreseen. Sudden illness or accidents
qualify; family weddings, seasonal work pressures and deadlines in other courses do
not.
2. You can show that you had been making progress on the assignment. Your request
for an extension is likely to include, as appropriate, a list of what you have read
in preparation, a preliminary outline or partial calculations, and so forth. If you
planned to leave the whole assignment to the last minute, you will find me less
sympathetic to your story of unexpected delays.
3. The application is made as soon as reasonably practicable, and includes a realistic
estimate of when your assignment can be submitted.
Any application for an extension must be received in writing, addressing the above issues
together with supporting information, by the paper coordinator at least 5 days prior to the
assignment due date and confirmed by the paper coordinator in writing. Please do not
request an extension over the phone.
The assignment submission points will remain open to accept late assignments until feedback
is returned (normally 3 working weeks, excluding weekends and holidays, after the
submission date). Late assignments will be treated as follows:
• They will not be marked until all on-time assignments have been marked. Thus,
feedback may be delayed beyond the normal turn-around time.
• Assignments received late without a prior extension arrangement will be penalised by
reducing allocated available marks for the assignments by 10% for each day,
including weekends and public holidays, that it is late. For example, if an assignment
is marked out of 80 and the assignment is 26 hours late, the penalty will be 26/24
*80*10% = 8.6. This is done to ensure fairness to those students who hand in on time
and those “taking” unauthorised additional time.
No assignments will be marked if received after the earlier time of:
• When feedback and/or suggested solutions are posted on Stream, and
• When assignments are returned to students.
Please note it is your responsibility to ensure that your assignment has been received. With
the number of students involved, it is impossible for lecturers to know whether a missing
assignment is the result of a student pulling out of the course, deciding to forgo the
assignment marks, or the result of a potential gremlin in the system. Murphy’s Law applies
and things can go wrong, so make certain you check with the submission point after you
have submitted your assignment. You should be able to see your file on the left hand side of
the screen.
For purposes of determining if electronic assignments were handed in on time, the
submission date and time will be recorded by STREAM.
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5. Assignment queries
Please feel free to keep in touch with the 110.229 team regarding this assignment, preferably
through the Assignment 1 forum. That way all students benefit and often we have found that
the best way of learning is through discussion with your peers as well as teaching staff. But
do NOT discuss your answers or ask public queries with suggested answers. If you are
unsure about this issue, you are welcome to use the confidential dialogue.
Please note that this assignment is at individual, not group level. Discussion is fine but
posting your answers to the assignment on STREAM discussion forums will lead to
penalties.
Although there are a large number of students with whom the teaching staff and myself are
involved in this paper, that does not mean that you are not each individually very important to
us. We value each student and will try to provide appropriate guidance to the best of our
ability.
6. Return of marked assignments and results
Please note that the general time to return assignments as per Massey University policy is
three working weeks, excluding weekends and holidays, after the due date.
Approximately 15 working days after the due date, general feedback, comments and
suggestions will be sent to all students who submitted assignments to enable you to review
your assignment promptly and to monitor your progress.
Please note that once marked, your assignment will be provided with feedback. If, having
consulted the feedback (on Stream and with your assignment), you are still unclear about any
aspect of your assessment, please contact the Paper Co-ordinator at your campus.
All the best with your assignment.
Yuan Yuan on behalf of 110.229 teaching team
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A SSIGNMENT 1 D ETAILS
Question 1: Job Order Costing [46 marks]
Auckland Pool Company (APC) builds custom swimming pools for homeowners in New
Zealand. APC uses material requisition forms and direct labour time tickets to trace direct
materials and direct labour costs to specific jobs. Manufacturing overhead is applied to jobs
at a rate of $100 per direct labour hour. During the first month of operations, the company
recorded the following transactions:
a) Paid raw materials, $200,000.
b) Issued the following materials to production:
• $130,000 was directly traceable to specific job.
• $20,000 was not directly traceable to specific jobs.
c) Paid the following labour costs:
• Direct labour, $50,000
• Construction supervision, $30,000
d) Incurred the following actual manufacturing overhead costs:
• Paid construction insurance, $5,000
• Construction equipment depreciation, $25,000
• Paid pool permits and inspections, $5,000
e) Incurred the following additional costs:
• Office equipment depreciation, $3,000
• Paid rent and insurance on owner’s company car for the month, $2,000
• Paid advertising costs, $10,000
f) Applied manufacturing overhead to jobs in process based on 900 actual direct
labour hours.
g) Completed 15 pools at a total cost of $195,000.
h) Made the sale of 13 pools that cost $176,000 in total. The other 2 pools are
completed and awaiting inspection by the customer before the sale is finalised.
i) Recorded sales revenue of $325,000 on the 13 pools that were sold on account.
j) Closed the Manufacturing Overhead account balance to Cost of Goods Sold.
Required: Use the template provided to complete the following requirements. Enter answers
as formulas where appropriate to show your workings.
1. Prepare journal entries to record the preceding transactions. No narrations needed.
(13 marks)
Question 1 continued over page
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Question 1 continued
2. Post the entries in requirement (1) to the T form ledger accounts. Letter your entries
from (a) to (j), instead of using account names. Do not forget to enter the ending
balances in the cash and the inventory accounts.
(21 marks)
3. Assuming there were no beginning balances in any of the accounts, calculate the
ending balance in the following accounts: (4 marks)
(i) Work in Process Inventory.
(ii) Finished Goods Inventory.
(iii) Manufacturing Overhead (over/underapplied)
(iv) Cost of Goods Sold (after the overhead adjustment).
4. Prepare a cost of goods manufactured statement for APC. (4 marks)
5. Prepare an income statement showing the adjustment to Cost of Goods Sold. Your
answer must show the calculation of Cost of Goods Sold. (4 marks)
[Total for Question 1 = 46 marks]
Question 2: Process Costing [14 marks]
Manawatu Company produces a variety of stationery products. One product, sealing wax
sticks, passes through two processes, blending and moulding. The weighted average method
is used to account for the costs of production. After blending, the resulting product is sent to
the moulding department, where it is poured into moulds and cooled. All materials are
introduced at the beginning of the process. Labour and overhead are applied continually
during the blending process. The following information relates to the blending process for
March:
a. WIP, 1 March, had 30,000 kilograms (units), 20% complete. Cost associated with
partially completed units were:
Materials $220,000
Direct labour 30,000
Overhead applied 20,000
b. WIP, 31 March, had 50,000 kilograms (units), 40% complete.
Question 2 continued over page
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Question 2 continued
c. Units completed and transferred out totalled 480,000 kilograms. Cost added during
the month were (all inputs are added uniformly):
Materials $5,800,000
Direct labour 4,250,000
Overhead applied 1,292,500
Required: Use the template provided to complete the following requirements. The templates
are pre-formatted for the requirement of decimal places. Enter answers as formulas where
appropriate to show your workings. For the month of March:
1. Calculate the equivalent units for materials and conversion. (1.5 marks)
2. Calculate the cost per equivalent unit for materials and conversion (Note: round to the
three decimal places.) (2 marks)
3. Calculate the cost of ending WIP inventory and cost of goods transferred out (Note:
round to the nearest dollar.) (2 marks)
4. Prepare the production report for the Blending Department. (1.5 marks)
5. Suppose that the materials added uniformly in blending are paraffin and pigment. The
manager of the company wants to know how much each of these materials costs per
equivalent unit produced. The costs of the materials in beginning WIP inventory are
as follows: (3 marks)
Paraffin $120,000
Pigment 100,000
The costs of the materials added during the month are also given:
Paraffin $3,250,000
Pigment 2,550,000
Prepare an equivalent unit schedule with cost categories for each material. Calculate
the cost per unit for each type of material (Note: round to the three decimal places).
6. Explain why the weighted average method is easier to use than FIFO and when
weighted average will give about the same results as FIFO. (4 marks)
[Total for Question 2 = 14 marks]
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Question 3: Overhead Allocation [40 marks]
Question 3 includes two parts. Both are compulsory.
Part A – Determine Predetermined Overhead Rates
Nice Farm Machines Ltd. makes a wide variety of products, all of which must be processed
in the Cutting and Assembly departments. For the year 2016, the company budgeted total
overhead of $993,000, of which $385,500 will be incurred in Cutting and the remainder will
be incurred in Assembly. Budgeted direct labour and machine hours are as follows:
Cutting Assembly
Budgeted direct labour hours 27,000 3,000
Budgeted machine hours 2,100 65,800
Two products made by the company are the RW2S and the SD5P. The following cost and
production time information on these items have been gathered:
RW2S SD5P
Direct Material $34.85 $19.57
Direct labour rate in Cutting Department $20 $20
Direct labour rate in Assembly Department $8 $8
Direct labour hours in Cutting Department 6 hours 4.8 hours
Direct labour hours in Assembly Department 0.03 hours 0.05 hours
Machine hours in Cutting Department 0.06 hours 0.15 hours
Machine hours in Assembly Department 5.9 hours 9.30 hours
Required: Use the template provided to complete the following requirements. Round all
computations to the nearest cent. Enter answers as formulas where appropriate to show your
workings.
1. Calculate the plant-wide predetermined overhead rate based on (a) direct labour hours
and (b) machine hours for the upcoming year? (2 marks)
2. Calculate the department predetermined overhead rates in Cutting and Assembly
departments using the most appropriate base in each department. (2 marks)
3. Calculate the costs of product RW2S and SD5P using (a) a plant-wide rate based on
direct labour hours (DLH), (b) a plant-wide rate based on machine hours (MH), and
(c) departmental rates calculated in requirement (2). (9 marks)
Question 3 Part A continued over page
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代写 110.229 Management Accounting
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Question 3 Part A continued
4. A competitor manufactures a product that is extremely similar to RW2S and sells
each unit for $310. Discuss how Nice Farm Machines Ltd.’s management might be
influenced by the impact of the different product costs calculated in requirement (3).
(3 marks)
Part B – Support Department Cost Allocation
Set out below is the Smith Ltd’s annual budget for its three support departments
(Administration, Legal/Accounting and Maintenance/Engineering) and its two production
departments (Processing and Finishing):
Annual Budget ($000 omitted)
Administration Legal/
Accounting
Maintenance/
Engineering
Processing Finishing Total
Direct labour $ 1,400 $ 1,000 $ 1,800 $ 5,600 $ 4,000 $ 13,800
Direct material 140 400 180 800 2,400 3,920
Insurance 350 100 150 600 440 1,640
Depreciation 180 140 160 400 300 1,180
Miscellaneous 60 40 80 120 60 360
Total $ 2,130 $ 1,680 $ 2,370 $ 7,520 $ 7,200 $ 20,900
Annual Budget (000 omitted)
Administration Legal/
Accounting
Maintenance/
Engineering
Processing Finishing Total
Number of
employees
80 40 60 400 300 880
Sq. ft. of floor
space
800 600 400 1,600 2,000 5,400
Maint./Eng.
hours
30 40 30 136 204 440
The allocation bases for the support department are (1) administration: number of employees;
(2) legal/accounting: floor space; and (3) maintenance/engineering: number of hours.
Required: Use the template provided to complete the following requirements. Round your
calculations to the four decimal places including percentages and round “amount to
allocate” and “amount allocated” to the nearest dollar. The templates are pre-formatted for
the requirement of decimal places. Enter answers as formulas where appropriate to show
your workings.
Question 3 Part B continued over page
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Question 3 Part B continued
1. Use the direct method to allocate support department costs to production departments.
(4.5 marks)
2. Use the step-down method to allocate support department costs to production
departments. The department which receives more benefit is allocated first. Assume
the benefits-provided ranking is the order in which the departments are listed.
(7.5 marks)
3. Use the reciprocal service method to allocate support department costs to production
departments. (12 marks)
[Total for Question 3 = 40 marks]
[Total Marks for Assignment 1 = 100 Marks]
代写 110.229 Management Accounting
