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Assessment item 2Assessment item 2Value:20%Due date:18-May-2018Return date:12-Jun-2018Submission method optionsAlternative submission method Task Your assignment consists of different question styles...

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Assessment item 2Assessment item 2Value:20%Due date:18-May-2018Return date:12-Jun-2018Submission method optionsAlternative submission method
Task

Your assignment consists of different question styles including discussion questions, reports, exercises, problem questions and spreadsheet questions. It assesseslearning outcomesas listed in the assignment rationale below.

The purpose of this assignment is to continue to develop skills in costing systems with an emphasis on the role of control in managing the production of goods and services efficiently in the workplace. Each question builds on the knowledge gained through the first assignment to develop the concepts of management accounting control through costing. Each question uses realistic data and professional practices similar to that found in workplaces.

QUESTION 1 Job costing (20 marks)
A. Create a handwritten/manual solution AND a spreadsheet solution to the following problem. Follow the template provided. Play the Job Cost podcasts from Interact Resources and work through the example problem in those podcasts. The example problem in the podcasts is similar to the Obese problem. Create a spreadsheet solution showing the row and column headings and the formula view. Your report section should be completely formula driven. Scan or use your phone to copy and paste an image of your handwritten attempt into your assignment. If using a smart phone, consider using a free scanning app such as Camscanner, Office Lens or Google Drive or search for an app. Let us know which app you chose.

Design your spreadsheet to meet the assignment requirements. In particular, check the spreadsheet requirements and the Spreadsheet Advice PDF.

See your text for a similar example.


B.Management accounting and history.Taking the Roman Coliseum as an example, describe how modern cost management accounting could be applied to a current attempt to recreate this structure. Be creative in your discussion (about XXXXXXXXXXwords). Add images to your answer.

QUESTION 2 Process costing (15 marks)
Create a handwritten/manual solution AND a spreadsheet solution to the following problem. Scan or use your phone to capture an image and paste a copy of your manual solution in your assignment submission. Consider using a smart phone scanning app. Also paste a spreadsheet solution showing the row and column headings and the formula view. Your report should be completely formula driven.

Design your spreadsheet to meet the assignment requirements. In particular, check the spreadsheet requirements and the Spreadsheet Advice PDF.

See your text for examples.

Review the four process costing videos provided in Interact Resources.

QUESTION 3 Joint costing - decision making (15 marks)

Create a handwritten/manual solution AND a spreadsheet solution to the following problem. Scan or use your phone to capture an image and paste a copy of your manual solution in your assignment submission. Also paste a spreadsheet solution showing the row and column headings and the formula view. Your report should be completely formula driven.

Design your spreadsheet to meet the assignment requirements. In particular, check the spreadsheet requirements and the Spreadsheet Advice PDF.

See your text for examples.

Joint cost allocation: additional processing beyond split-off point
In a certain production process XXXXXXXXXXkg of a single raw material were processed at a cost of $ XXXXXXXXXXAt split-off two intermediate products, A and B emerged, weighed as XXXXXXXXXXkg of A and XXXXXXXXXXkg of B. A was processed further at a cost of $45 000 to produce C, and B was processed further at a cost of $25 000 to produce D. C sold for $4.50 per kg.

Required:
(a) If A was allocated $ XXXXXXXXXXof the joint production costs under the net realisable value method, what was the selling price of D?
(b) Suppose the firm receives an offer to buy all of product A for $2 per kg at the split-off point. Would the firm be better off selling A or processing further to produce C? By how much?

Question 4 Variance analysis (20 marks)

Create a handwritten/manual solution AND a spreadsheet solution to the following problem. Scan or use your phone to capture an image and paste a copy of your manual solution in your assignment submission. Also paste a spreadsheet solution showing the row and column headings and the formula view. Your report should be completely formula driven.

Design your spreadsheet to meet the assignment requirements. In particular, check the spreadsheet requirements and the Spreadsheet Advice PDF.

The problem is adapted from P7-13 in your text page 202.

Required:

A.Calculate the materials price variance (on purchase) and materials usage variance. What is the actual direct labour rate per hour?

Answer the requirements using both a manual and spreadsheet solution. In your spreadsheet, include the IF function to determine Favourable and Unfavourable variances.

B. Prepare a Business Report as if for senior management critically evaluating the purpose of variance analysis and other areas in an organisation where variance analysis would be useful and the practical relevance of detailed overhead variance analysis. See the reading by Murray Wells. Search the CSU library for the ACC512 readings. Also find and use at least one other academic reading. Suggested word limit about 500 words. Ensure that your answer is in business report format. Read the following online reference regarding business report writingwww.business.unsw.edu.au/Students-Site/Documents/Writingareport.pdfor find other guidance online re business report writing.

QUESTION 5 Budgeting (20 marks)

Create a handwritten/manual solution AND a spreadsheet solution to the following problem. Scan or use your phone to capture an image and paste a copy of your manual solution in your assignment submission. Also paste a spreadsheet solution showing the row and column headings and the formula view. Your report should be completely formula driven.

Design your spreadsheet to meet the assignment requirements. In particular, check the spreadsheet requirements and the Spreadsheet Advice PDF.

A. Budget (10 marks)

B. How can budgeting be viewed as a choice process? (10 marks)

Use your text as a reference - see page 249. Find a cartoon/comic strip image on the Internet to illustrate your discussion. Explain the relevance of this image to your answer. Find and use at least one academic article relevant to your discussion.

Rationale

This assignment assesses your achievement of learning outcomes including:

  • the application of cognitive skills in the design and operation of costing systems;
  • the design and operation of performance management systems;
  • the role of management accounting in organisational contexts:
  • the implications for management accounting of different paradigms;
  • the application of analytical and synthetical skills in report writing;
  • quantitative techniques and computer software;
  • using the Internet as a professional source;
  • the history of management accounting
  • the creation and implementation of computerised decision models; and
  • to critique how managers make decisions.

In particular, this assignment is designed to assess your application of knowledge, understanding and skills in certain topics including cost flows in management accounting, spreadsheet construction, job and process costing, variance analysis, joint costing and budgeting.

For spreadsheet problems, good answers will comply with the spreadsheet requirements including the separation of data entry and report/solution areas, pasted normal and formula view with row and column headings and the use of the IF function where appropriate.
Review the examples in the Spreadsheet Advice PDF provided online in Interact2 Resources.

Marking criteria

For spreadsheet questions formula views showing row and column headings are important.

Your assignments will be marked as a whole with recognition being given to application of knowledge, quality thinking and application of skills. For some questions, students have a chance to demonstrate some creativity, or provide their own examples or give evidence of wider reading or structure a computer spreadsheet model in an innovative manner. We also need to avoid the snowballing effects of cumulative errors - that is, an error early in a practical question which carries through. Thus, a marking system is used with deductions for errors and omissions. Full marks are possible for well structured, complete, quality answers.

Any assignments with evidence of plagiarism may be referred to the university's academic misconduct processes and will receive a grade of zero. See www.csu.edu.au/faculty/business/studentresources/plagiarism

The marking criteria for your assignments will be based on the content of the subject as identified by thelearning objectivesas outlined above and at the beginning of each of the various topics as outlined at the beginning of each Interact2 topic. Good spreadsheet answers will comply with the assignment requirements.

Example criteria used in marking essays/discussion questions/case studies/business reports
Note that business reports are normally more structured than essays. Find guidance on business report writing structures on the Internet. Here is one example:www.business.unsw.edu.au/Students-Site/Documents/Writingareport.pdf

Criteria

Relevance of the answer. Are the important issues raised in the question identified? Did the student answer the questions?
Critical capacity. Has reference material been carefully analysed or critically accepted?
Structure of the answer. Is the answer well-structured and the argument logically developed?
Writing style. Is the style concise and lucid or confused, making it difficult for the reader to get the point?
Scope of reading. Does the answer indicate a satisfactory coverage of literature relevant to the questions?

Answers should:

  • be well planned with arguments flowing logically;
  • use correct sentence structure, punctuation and spelling;
  • present original ideas where appropriate;
  • and present a justified conclusion and acknowledge all sources.

Note:
Normal distribution curves for grades are not utilised in this subject.

You can discuss your work with each other prior to submission using the discussion forum. However, please do not post complete versions of answers to the discussion forum. Do not leave assignments until the last minute.

Marking Criteria Assignment 2

Criteria

High Distinction

Distinction

Credit

Pass

Criteria for expectedlearning outcomesto be achieved include critical evaluation of cost and control systems, understanding and applying cost concepts in management accounting, creating computer models to solve costing and decision situations such as job costing, process costing, joint costing variance analysis, authentic scenarios for cash budgeting and business report writing.

Be the result of your original work, complete without any omissions and correct.
Evaluate all the issues raised in questions.
Provide examples where appropriate
Accurate answers complying with all spreadsheet requirements relevant to each scenario.

Be the result of your original work, be mostly complete without any omissions, and be mostly correct
Evaluate most of the issues raised in questions
Provide some examples where appropriate
Comply with the majority of spreadsheet requirements relevant to each scenario.

Be the result of your original work, be mostly complete with few omissions, and be partially correct.
Evaluation of some of the issues raised in questions.
Provide examples where appropriate.
Comply with some of the spreadsheet requirements relevant to each scenario.

Be the result of your original work, be mostly complete with some omissions, and be partially correct.
Discuss some of the issues raised in questions
Provides some examples where appropriate
Comply with some spreadsheet requirements relevant to each scenario.

The discussion answers and business reports meet academic standards of syntax, vocabulary, spellingand punctuation and reflects an awareness of audience needs.

Accurate use of syntax, spelling and punctuation; correctly refers to a variety of sources to support arguments, including the prescribed texts and a range of additional readings; reference list ofthe range of resources used, correctly formatted using APA style.

Accurate use of syntax, spelling and punctuation; succinct and effective use of vocabulary; correctly refers to a range of sources to support arguments, including the prescribed text and a variety of further readings;
reference lists a range of relevant resources used, correctly formatted using APA style.

Accurate use of syntax, vocabulary,
spellingand punctuation; correctly refers to more than the minimum requirement of sources to support arguments, including
prescribed texts andrecommended readings;
reference list formatted in APA style, with few or no errors.

Mostly accurate syntax, spelling and punctuation; correctly refers to minimum number of sources to support arguments, including prescribed texts; reference list used, formatted in APA style, with few errors.

Presentation

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Requirements

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Answered Same Day May 15, 2020 ACC512 Charles Sturt University

Solution

Aarti J answered on May 18 2020
145 Votes
Management Accounting
Course Name
Course Date
Student’s Name
MANAGEMENT ACCOUNTING        10
Management Accounting
Answer 1:
Part A:
Spreadsheet solution
Formula view
Part B
Management accounting is the field of accounting which helps in providing the financial advise , planning and analysing the performance to meet the goals and objectives of the firm.
Colosseum which is also known as the Flavian Amphitheatre was built in Rome which is a freestanding structure and different from the other structures as they stand on a support. Colosseum is a structure which is made of stone and concrete. For recreating Colosseum, management accounting can help in playing an important role. Different concepts like planning, managing, evaluation and costing can help in restructuring the Colosseum. Job Order costing can play an important role in this. There are different walls in the building like the main structural framework which is called travertine, which can be considered as one job. The secondary walls are called volcanic tufa which can be considered as the other job and the inner bowl and the arcade vaults are concrete.
So, with the use of job costing, the construction of Colosseum can be divided and categorized into different jobs which can help in the construction of it.
Apart from this the other concepts that can be used in making the Colosseum will...
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