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

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excel calculations paste on word as well as send excellfiles so i have upload too.
Answered Same Day Aug 21, 2020 ACC512 Charles Sturt University

Solution

Ashish answered on Aug 23 2020
145 Votes
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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-1
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 co
ecting actual results to ensure that a business enterprise goals and plans are achieved.
Solution-1c
In cu
ent 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 Labo
     
    1284000
    Overhead:
     
     
    Indirect material used
    52500
     
    Indirect labo
    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.
    Cost of Goods Sold Schedule
    Beginning finished goods
    264000
    Cost of goods manufactured
    2892450
    Goods available for...
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