excel calculations paste on word as well as send excellfiles so i have upload too.

tae_636704319530670100_120461_1.docx

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excel calculations paste on word as well as send excellfiles so i have upload too.

Ashish · Accepted Answer

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Solution-1a
The important difference between the managerial accounting and financial accounting is the managerial accounting focuses and provides relevant information to the managers for effective decision making. In contrast, the financial accounting is focused on providing the relevant information to outside parties of the company.
Solution-1b
Followings are the main functions of management accounting; 
1. Planning: It is to devise short-term and long-term plans and actions to achieve a particular objective. 
2. Organizing: It is a process of establishing an organizational framework and assigning responsibility to people working in an organization for achieving business goals and objectives.
3. Controlling: Control is the process of monitoring, measuring, evaluating and correcting actual results to ensure that a business enterprise goals and plans are achieved. 
Solution-1c
In current scenario many individuals are employed in the company which is the very important for achieving the company goals. Therefore, the management is focused and controls the employee’s behavior during the working hours.
Followings three steps are followed;
1. Create a circular workforce
2. Separate workers
3. Make visible actions
Solution-2
	Lake Ltd.
	Cost of Goods Manufactured Schedule
	 
	 
	 
	Work in Process (1st July, 2016)
	 
	60600
	Direct materials:
	 
	 
	Raw Material Inventory (1st July, 2016)
	183000
	 
	Add: Raw material purchased
	1200360
	 
	Freight In
	90000
	 
	Raw material available
	1473360
	 
	Less: Raw Material Inventory (30th June, 2017)
	186000
	 
	Raw material used
	1287360
	 
	Less: Indirect material
	52500
	 
	Direct material used
	 
	1234860
	Direct Labor
	 
	1284000
	Overhead:
	 
	 
	Indirect material used
	52500
	 
	Indirect labor
	75000
	 
	Factory Rent
	152820
	 
	Depreciation Expense - Factory Equipment
	90000
	 
	Total overhead cost
	 
	370320
	Total costs
	 
	2949780
	Work in Process (30th June, 2017)
	 
	57330
	Cost of goods manufactured
	 
	2892450
	Lake Ltd.

excel calculations paste on word as well as send excellfiles so i have upload too.

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