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BUACC 2613Management Accounting

BUACC 2613

Management Accounting 1

Semester 1, 2012

Assignment

Contribution to overall assessment: 25%

Due date:

· This assignment has two equally weighted parts:

o Part 1 – Technical

o Part 2 – Essay ( 1500 – 1800 word)

· The assessment criteria are on p. 5.

Please note: your work must comply with the University’sGeneral Guide for the Presentation of Academic Work..ballarat.edu.au/current-students/publications,-policies-and-forms/general-guide-for-the-presentation-of-academic-work”>http://www.ballarat.edu.au/current-students/publications,-policies-and-forms/general-guide-for-the-presentation-of-academic-work

This is a group-assignment. Each group needs to have 2 to 3 members in it. Please organise yourselves into groups. Please make sure that names and ID numbers of all members are stated on the cover sheet of your submission.

As this is a group assignment, each member of a group is awarded the same mark. Working in groups has its pros and cons. I am sure that you will hold constructive and energetic group discussions on the issues at hand. In case of any disagreements, you will be able to resolve them in a democratic and rational way. There will be times when you may have to agree to disagree with each other. Invariably different group members bring different skills to a project; it is up to you to make the best of it. I believe one can learn a lot by discussing the issues with one’s colleagues.

If you happen to find your group members are “not pulling their weight” or there are problems with any member’s commitment, then please try to resolve those issues amongst yourselves. Open and honest communication always helps. If you are unable to resolve these issues, you are most welcome to see me and we will try to sort out the problems together. Do this as soon as possible and certainly before the due date.

Please adapt this to suit your group, particularly the last two paragraphs.

PART 1:

George Ltd manufactures two types of coils used in electric motors. The two types are: C20 and D40. They both require plastic and metal. Information for the two products for the month of April is given in the following tables:

Input prices

Direct materials

Plastic

$4 per kilogram

Metal

$3 per kilogram

Direct manufacturing labour

$10 per direct manufacturing labour hour

Input quantities per unit of output

C20

D40

Direct materials

Plastic

4 kilograms

6 kilograms

Metal

0.5 kilograms

1 kilogram

Direct manufacturing labour-hours (DMLH)

3 hours

5 hours

Machine-hours (MH)

10 MH

18MH

Inventory information, direct materials

Plastic

Metal

Beginning inventory

250 kilograms

60 kilograms

Target ending inventory

380 kilograms

55 kilograms

Cost of beginning inventory

$950

$180

The company accounts for direct materials using a FIFO cost flow assumption.

Sales and inventory information, finished goods

C20

D40

Expected sales in units

500

300

Selling price

$160

$250

Target ending inventory in units

35

15

Beginning inventory in units

15

30

Beginning inventory in dollars

$1500

$5580

The company uses:

· a FIFO cost flow assumption for finished goods inventory.

· an activity-based costing system and classifies overhead into three activity pools: Set-up, Processing and Inspection. Activity rates for these activities are $100 per set-up hour. $5 per machine-hour and $16 per inspection-hour, respectively.

Other information is as follows:

Cost driver information

Plastic

Metal

Number of units per batch

20

15

Set-up time per batch

1.5 hours

1.75 hours

Inspection time per batch

0.5 hour

0.6 hour

Non-manufacturing fixed costs for March equal $36,000 of which half are salaries. Salaries are expected to increase by 5% in April. The only variable non-manufacturing cost is sales commission equal to 1$ of sales revenue.

Required:

Prepare the following for April:

a. Sales budget

b. Production budget in units

c. Direct material usage budget and direct material purchases budget

d. Manufacturing overhead cost budgets for each of the three activities

e. Budgeted income statement (ignore income taxes)

PART 2

Go to:.ssrn.com/sol3/papers.cfm?abstract_id=321520″>http://papers.ssrn.com/sol3/papers.cfm?abstract_id=321520

.bbrt.org/beyond-budgeting/bb-problem.html”>http://www.bbrt.org/beyond-budgeting/bb-problem.html

Critically review the above. Do you agree, partly agree or disagree with the issues raised in the above? Discuss your reason (s) for doing so. You need to support your viewpoint with carefully chosen and authoritative evidence.

· BUACC2613 – Management Accounting 1

· Semester 1, 2012

· Group Assignment

Names: Student Numbers:

Bases of assessment

HD P F

Technical component – accuracy in calculations.

Essay: evidence of research

Essay: a demonstration of critical evaluation of the issues.

Essay format: As per The General Guide for the Presentation of Academic Work

Expression – clarity, style (formal and academic), coherence in writing, grammar, punctuation, spellings and sentence structure.

Expression of your view (and not a catalogue of quotes/ others’ ideas)

A logical flow of argument at both the paragraph level and the overall text level.

Use of supporting arguments.

Use of literature to support the argument.

Referencing procedure (within the text, and at the end of the text).

Appropriately styled and punctuated bibliography.

Overall Presentation – including cover page, line spacing, page numbering.

GRADE:

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