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Page 1 of 5 MAA 262 – Management accounting Trimester 1, 2018 Assessment –Individual Assignment Part 1 DUE DATE AND TIME: Week 5, Sunday 15th April at 11:59 PM (online group submission via...

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MAA 262 – Management accounting
Trimester 1, 2018
Assessment –Individual Assignment Part 1
DUE DATE AND TIME: Week 5, Sunday 15th April at 11:59 PM
(online group submission via CloudDeakin)
PERCENTAGE OF FINAL GRADE: 10% (10 marks) of your total marks for the unit.
Learning Outcome Details
Unit Learning Outcome (ULO) Graduate Learning Outcome
ULO 3: Prepare and explain alternate product
costing using job costing, variable and absorption
costing, and activity based costing systems.
Prepare an analysis; demonstrate
the use of Excel in the analysis, and
word Microsoft programs to prepare
the assignment.
ULO 6: Demonstrate a student-oriented approach to
learning and teamwork and collaboration skills.
GLO 2 & 5: Problem
solving and
Assessment Feedback:
Students who submit their work by the due date will receive their marks and feedback on
CloudDeakin within 15 working days of the assignment submission due date.
Description / Requirements
You will need to have completed topics 1-4, to complete this part of your assignment. The
assignment must be completed individually. The assignment requires development of a
model using a spreadsheet and a word document. Both excel spreadsheet and word
document have to be submitted to the assignment folder.
Please monitor CloudDeakin regularly for any further instructions or announcements.

XXXXXXXXXXDeakin's Bachelor of Commerce and MBA are internationally EPAS accredite d .
Deakin Business School is accredited by AACS B .
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Submission Instructions
This assignment is to be submitted online only. (You are not required to submit a hard copy)
The completed assignment must be submitted into the allocated area on CloudDeakin under
the drop-box folder on or before the due date.
Once submitted, you cannot retract your assignment but you can submit another version.
Only the most recent version submitted will be marked.
You must keep a backup copy of every assignment you submit, until the marked assignment
has been returned to you. In the unlikely event that one of your assignments is misplaced,
you will need to submit your backup copy.
Any work you submit may be checked by electronic or other means for the purposes of
detecting collusion and/or plagiarism.
When you are required to submit an assignment through your CloudDeakin unit site, you will
eceive an email to your Deakin email address confirming that it has been submitted. You
should check that you can see your assignment in the Submissions view of the Assignment
Dropbox folder after uploading it, and check for, and keep, the email receipt for the
• There is a discussion area on Cloud Deakin titled ‘Assignment discussion’. This area
is for you to discuss the assignment. It is an area for students to help each other.
• Penalties for late submission: The following marking penalties will apply if you
submit an assessment task after the due date without an approved extension: 5% will
e deducted from available marks for each day up to five days, and work that is
submitted more than five days after the due date will not be marked. 'Day' means
working day for paper submissions and calendar day for electronic submissions. The
Unit Chair may refuse to accept a late submission where it is unreasonable or
impracticable to assess the task after the due date.
• The final examination is the only hurdle requirement for this unit. If you choose not to
submit this assignment, you will score zero for this assignment.
• Plagiarism and collusion are forms of cheating and are considered a serious academic
misconduct, and severe penalties are associated with them. Please refer to the MAA
262 unit guide for your responsibilities with regard to plagiarism and other academic

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• For more information about academic misconduct, special consideration, extensions,
and assessment feedback, please refer to the document Your rights and
esponsibilities as a student in this Unit in CloudDeakin unit site.
Assignment Part 1
Question 1
On the 1st of July 2016 Cam Rollins set up his own company, Twister Pty Ltd, to manufacture
and distribute his own range of gym equipment. Cam recently graduated with a degree in
exercise and sports science and believed he had a very good plan for his own designed
exercise equipment. Cam also had some business experience so he knew how important it
was to keep accurate accounting records from which to prepare his reports. At the end of
his first year of operations, 30th June 2017, Cam prepared the following income statement
which he has submitted to you for checking:
$ $
Sales 585,000
Less operating expenses
Purchases of raw materials 260,000
Purchases of factory supplies 13,000
Wages for factory staff directly
involved in making the gym
Wages for other factory staff 13,000
Administrative wages 13,000
Sale staff salaries 28,600
Advertising 6,500
Administrative expenses 10,400
Factory cleaning costs 6,500
Rent 32,500
Electricity 5,850
Factory equipment – purchase
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Office equipment – purchase
Sales manager vehicle –
purchase cost
Production manager’s salary 52,000
Total operating expenses XXXXXXXXXX
After reviewing his company’s first year income statement, Cam was disappointed with
the result. With his high level of expenses, the cash position was also in deficit. Cam has
an appointment with the bank manager to go through is financial reports and to discuss
whether his bank overdraft facility should be extended.
Additional Information:
• The non-cu
ent assets of Twister Pty Ltd are expected to have an estimated useful
life of five years with no salvage value.
• The factory occupies 70% of the rented facility, the administration area 10% and the
sales department 20%.
• Cam Rollins spends half of his time in the role of Production Manager and the
emaining time equally across the sales and administration departments as manager.
• Gas and electricity are essentially all consumed by the factory.
• As at 30th June Twister had the following inventories:
Raw Materials $ 26,000
Work in Progress 52,000
Finished goods 72,000
a) Prepare a report for Cam Rollins outlining the e
ors he has made and the what the
ect treatment should have been. (showing in a table may be appropriate)
) Prepare a Cost of Goods Manufactured Statement and a co
ected Income Statement
for the year. You must use Excel to prepare these statements.
c) Based on your review of Twister Pty Ltd, recommend whether the bank should extend
the bank overdraft facility to Twister Pty Ltd. Give supporting reasons for your decision
and what additional reports/information the bank may request to assist in its decision.
Ensure all references resulting from any research you undertake for this section are
fully cited. (up to 500 words)
XXXXXXXXXX = 40 marks)
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Question 2
Cam Rollins has explored the possibility of finding a cheaper supplier for the raw material
equired for the production of his gym equipment. He has an offer from a supplier which will
educe his raw material cost significantly and therefore lead to higher profits. There have
een some reports that the material under consideration is of a poorer quality and has led to
some minor accidents when using the gym equipment. The supplier has pointed out that
these accidents have been fairly minor and the cost of refunding the clients and giving them
some compensation for their injuries will still be cheaper overall for Cam and therefore result
in higher profitability for Twister Pty Ltd.
Advise Cam on what decision he should take with regards to the supplier and raw material.
Support your answer with any cases or guidelines you consider relevant. (500-600words)
XXXXXXXXXX = 50 marks)
Total of 50 marks will scaled to a percentage out of 10.
Answered Same Day Apr 15, 2020 MAA262 Deakin University


Aarti J answered on Apr 17 2020
139 Votes
ors made:
        All the purchases are mentioned whereas cost of goods sold needs to be reported
        There is no segregation of the factory costs and adminsitrative costs
        Factory equipment needs to be reported in the balance sheet
        Office equipment needs to be reported in the balance sheet
        Vehicle needs to be reported in the balance sheet
        Depreciation expense needs to be reported
        Cam Rollins
        Cost of goods manufactured statement
        Direct materials used:
        Beginning raw...

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