ACC203e Managerial Accounting Group-Based Assessment January 2011 Presentation Lecture Group T01 Mr Wong Nee Tat Names Chen Yawen Gwendolin(Y1072354) Chng Chyi Da (K1115100) Teo Zhen Wei (Z1010291) Question 1 UrPrint Job U12 Cost Sheet $ Direct Materials: Plain t-shirts 4,800 Paints 1,400 Design & making of silk-screen 2,000 Direct Labour: 600 t-shirts1 4,200 Factory Overhead2 840 Additional Costs: Correction
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1 Comprehensive Problem: Part 2 chapters 5–10 1. a. Physical units method of allocation: Grades Board Feet Percent of Units Allocation* Firsts and seconds 1,500,000 .20 180,000. No. 1 common 3,000,000 .40 360,000 No. 2 common 1,875,000 .25 225,000 No. 3 common 1,125,000 .15 135,000 Totals 7,500,000 1.0 900,000 Unit cost: Firsts and seconds .12 (180,000/1,500,000) No. 1 common .12 (360,000/3,000,000)
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Technical Briefing APRIL 2001 DEVELOPING AND PROMOTING STRATEGY Activity-based Management – An Overview IN THIS BRIEFING… ctivity-based management and activity-based costing (ABM/ABC) have brought about radical change in cost management systems. ABM has grown largely out of the work of the Texas-based Consortium for Advanced Manufacturing-International (CAM-I). No longer is ABM’s applicability limited to manufacturing organisations. The principles and philosophies of activity-based thinking
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DSS Assignment (Assignment 1) GROUP DUE DATE: March 13, 2015 Peer Evaluation: Each group member will be grading other team members. A student’s score will be an average of the group member’s rating times the overall assignment score. For example if you get an average of 80/100 in peer evaluation from your group and 90 in the assignment, your INDIVIDUAL score would be 90*.8 = 72/100. If there is a problem with your group members, please e-mail me right away!!! PEER Evaluations are
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Contrary to some belief, accounting is not a “walk-in-the-park” career. Accountants do not sit at a desk one-hundred percent of the time crunching numbers that always add up perfectly. In fact, accounting fraud is one of the largest scandals found today. When an accountant enters an engagement with a client, who are they liable to? Certainly not just to the client, but also anyone who could negatively be affected by a material misstatement, as well as the government. These responsibilities are
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inventory module will streamline purchasing and reduce spoilage. Through enhanced accounts payable and accounts receivable systems, inventory updates will be more timely and accurate. The addition of the software will improve the quality of Kudler’s accounting system, reduce cost of products with less spoilage, improve decision-making capabilities, and increases the ease of sharing knowledge about products and other services. The software will help accelerate the process of filling customer orders more
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| Readings 5-1: “Activity-Based Costing and Predatory Pricing: The Case of the Petroleum Retail Industry” by Thomas L Burton and John B MacArthur, Management Accounting Quarterly, (Spring 2003). The assignment of indirect costs in a volume-based costing system can lead to product-cost subsidization—overcost high-volume products and undercost low-volume products. Undercosted products can lead to the appearance
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Marvelous Metals Co. ACTIVITY-BASED COSTING and CORPORATE STRATEGY Marvelous Metals Co. specializes in the production and sale of two machine parts: Part 245A and Part 666B. Historically, the profitability of the company has been tied to Part 245A. In the last two years, however, the firm has been facing intense competition, and its sales of this part have dropped. Much of the competition was from foreign sources, and the general manager was convinced that the foreign producers were
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| Wooden Pallet | Cutting/Chopping | Wooden Box | Lamination Board | Selling Price | 840 | 890 | 520 | 680 | Product per unit | 575.58 | 654.96 | 342.24 | 308.6 | Profit/(Loss) per unit | 264.15 | 235.04 | 177.76 | 321.4 | Unit Produced | 940 | 3230 | 6400 | 4200 | Total Profit/Loss | 248301 | 759179.2 | 1137664 | 1349880 | Profit/Loss % | 7.1 | 21.7 | 32.6 | 38.6 | Traditional Cost Method Working Note 1: Product | Unit of output | Machine unit/hour | Total Machine Hour | Wooden
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EIP Project S2-1: Multiple Allocation Bases and Ethical Dilemmas The profitability of the two types of products can be impacted by changing the allocation base in the way that the text implies. As stated in the case study, the controller’s reasoning is he wants the highest percentage of overhead cost assigned to the military contracts (Whitecotton, 2011). This impacts the profitibility of both product lines by (a.) increasing the apparent “cost” of each unit so as to increase the sale price
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