Reference no: EM132501141
ACC203 - Management Accounting Assignment - Elite Education Institute, Australia
Part A - Practical Questions
Question 1 - Barn Farm Pty Ltd, a pet food supplier, employs a process costing system for its manufacturing operations. All direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. The company's production quantity schedule for June 2019 are as following:
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Units (cans)
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Work in process on 1 June (60% complete as to conversion)
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400
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Units started during June
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700
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Total units to account for
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1100
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Units from beginning work in process, which were completed and transferred out during June
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400
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Units started and completed during June
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360
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Work in process on 30 June (20% complete as to conversion)
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340
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Total units accounted for
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110
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Calculate each of the following amounts:
1. Equivalent units of direct material and conversion during June. Use the FIFO method.
2. Equivalent units of direct material and conversion during June. Use the weighted average method.
Question 2 - Green Manufacturing Pty Ltd is a computer manufacturing company. At the beginning of 2019, the following estimates were provided for the coming year:
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Machining
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Assembly
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Direct labor-hours
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1,000
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9,000
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Machine-hours
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10,000
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500
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Direct labor cost
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$ 8,000
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$72,000
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Manufacturing overhead costs
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$25,000
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$360,000
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The accounting records of the company show the following data for Job order from Elite Education:
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Machining
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Assembly
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Direct labor-hours
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50
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120
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Machine-hours
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170
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10
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Direct material cost
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$2,700
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$1,600
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Direct labor cost
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$ 400
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$ 900
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Note: overhead costs are applied on the basis of machine-hours for the Machining Department and on the basis of direct labor-hours for the Assembly Department.
Required -
a. Compute the manufacturing overhead allocation rate for each department.
b. Compute the total cost of Job order from Elite Education.
c. Provide possible reasons why Green Manufacturing Pty Ltd uses two different cost allocation rates.
Part B - Analytical Question
Critically discuss the concept of a value chain.
Select any major manufacturing company and describe the segments that you think would be included in its value chain.
Provide a brief explanation of the role of each segment and explain how a retailer could focus on the purchasing segment of their value chain to create competitive advantage.
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Determine the cost per equivalent unit for conversion
: Using the weighted-average method, determine the cost per equivalent unit for conversion for Finishing. (Round your answer to 2 decimal places.)
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Describe the impact of each one on the price of the product
: Give two other possible pricing strategies that could be adopted and describe the impact of each one on the price of the product.
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Calculate total cost per unit of each product as reported
: Calculate the total cost per unit of each product as reported by the existing costing system, allocating overheads on the basis of machine hours
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What is the impact of globalization on current solutions
: Define your purpose and objectives. Identify your most promising opportunity, being careful to discriminate between an interesting technological idea
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ACC203 - Management Accounting Assignment
: ACC203 - Management Accounting Assignment Help and Solution - Elite Education Institute, Australia. Critically discuss the concept of a value chain
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Application of criminological and victimological theories
: CRM 3541 Application of Criminological and Victimological Theories In Crime Analysis Assignment help and Solution, University of Venda - Assessment Writing
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Why the stakeholders are important to a company
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ECO202 - Macroeconomics Assignment Problem
: ECO202 - Macroeconomics Assignment Help and Solution - Elite Education Institute, Australia. Find exogenous expenditure and induced expenditure in this economy
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What is the value of the firm assets prior
: The firm has 100,000 shares outstanding. The cost of capital is 20% and the firm faces a 40% tax on all corporate earnings.
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