Describe the current industry practice

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Reference no: EM132151469

SERVICE COSTING AND APPLICATION TO ELECTRICITY RETAILERS IN AUSTRALIA

TASK 1

INSTRUCTIONS

Read attached journal articles, as these articles will get you started.

This assignment requires you to extend your knowledge about Service Costing to the retail Electricity providers in Australia. At present there is an ongoing debate about the rise in electricity prices in Australia. In this assignment you will apply your knowledge of Service Costing to gain an understanding of the difficulties inherent in costing retail electricity services. You must take into accountthe current service costing practices in the industry and highlight the difficulties in relation to electricity retailing.

(1) Describe the current industry practice in costing electricity supply
(2) You must critically evaluate the application of Service Costing to Electricity retailers
(3) Further marks are awarded for presentation, structure and writing
(4) Additional marks will be awarded for following the Harvard referencing guidelines

TASK 2

CASE 6.46 (Spicer and Rabbit Accounting Firm) in your text book. Please view the attached Excel sheet for the case and answer ONLY the FIVE questions listed.

Required:

1. Calculate the predetermined overhead rate per dollar of professional labour.

2. Explain how the firm can justify using a single overhead rate to cost each case.

3. Use the information in the time sheets to prepare a client cost sheet for the Jazz Industries investigation, similar to that in Exhibit 6.8.

4. Determine the total cost of the investigation.

5. Spicer and Rabbit operate in a very competitive market and cannot always charge clients prices sufficient to cover the full cost of undertaking a case. In the light of this information: How could John House justify undertaking the investigation of the jazz industries for a loss?

1500 Words: (Introduction 100;Body1300;Conclusion 100)

Attachment:- Service Costing Assignment.zip

Verified Expert

This assignment is based on to aspect on being the theory which needs to be understood from the perspective of the costing done in Australia in relation to the electricity bills supplied to the retailer . The second segment is practical which is deals with accounting computation.

Reference no: EM132151469

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urv2151469

11/28/2018 2:06:48 AM

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len2151469

10/26/2018 4:49:10 AM

Question (4) - Maximum 8 marks Incorrect answer with steps not followed Correct answer with steps followed Question (5) – Maximum 16 marks Inadequate reasoning and arguments illogical Adequate reasoning and arguments logical Inadequate research of material outside text book Adequate research of material outside the text book

len2151469

10/26/2018 4:49:03 AM

ASSIGNMENT TASK (2) – 64 MARKS Question (1) Maximum 8 marks Inaccurate Calculations with steps not shown in calculations and poor presentation Accurate Calculations with steps shown in calculations and clear presentation Question (2) Maximum 8 marks Inadequatereasoning Ideas not clearly conveyed Arguments not logical Excellent reasoning Expressed ideas clearly Clearly argued with proper examples Question (3) Maximum 24 marks No formatting of numbers and narratives Proper formatting of numbers and narratives Wrong Calculations Correct Calculations Unclear presentation (not followed the example in Exhibit 6.8) Clear presentation as per example

len2151469

10/26/2018 4:48:56 AM

Introduction, Conclusion&Structure Maximum 8 marks Well Structured No Executive Summary, unclear or Inadequate introduction and conclusion and originality index more than 20% Clear and concise introduction and conclusion, and originality index less than 10% Requirement 1 and 2 Maximum 24 marks Inadequate research Adequate research Illogical arguments, no context and improper reasoning Logical arguments, within the context of the assignment and proper reasoning Well set out and improper use of grammar And inadequate in text referencing Well set -out and professional writing with appropriate intext referencing

len2151469

10/26/2018 4:47:44 AM

Graduate attributes demonstrated: Discipline-Specific Knowledge Workplace skills and qualities Communication proficiency Critical thinking and problem-solving skills ASSIGNMENT – WORTH 25% (Will be marked out of 100 marks) DUE DATE: 21st 11.55 pm

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