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ACC512 Management Accounting for Costs and Control

Published : 11-Oct,2021  |  Views : 10


Create a spreadsheet solution to the following problem. Also paste a spreadsheet solution showing the row and column headings and the formula view. Your report should be completely formula driven.Design your spreadsheet to meet the assignment requirements set out above. In particular, check the spreadsheet requirements and the Spreadsheet Advice PDF.See pages 156-157 of your text for examples.

Review the four process costing videos provided in Interact Resources. Note that in the situation below there are two production departments. The Tuena Trading Company manufactures a single product which passes through two departments, A and B.All work is commenced in Department A, from which all output is transferred to Department B where additional materials are added when processing is 30% complete.

In Department B labour and overhead costs are treated as being incurred uniformly throughout the process. Overhead is allocated on the basis of 130% of direct labour cost. For Department B the following information relating to the month of April, 2017 is available:
Work in process, 1 April: 5000 units, 80% complete. Costs of this
work in process include:
Department A costs $15 600
Department B materials $ 5 900
Department B direct labour $ 7 000

During April 150 000 units were completed and transferred to finished goods inventory.Units transferred in from Department A were charged to Department B at $3 per unit. Department B's costs in April were materials added $145 100 and direct labour $298 000.On 30 April 10 000 units were in process in Department B and these were estimated to be 30% complete.

For Department B calculate for the month of April the cost of work completed and the cost of work in process as at 30 April, 2017, using the weighted average cost method.
Newbridge Company is starting operations on 1 January, 2017 with no opening inventories.Manufacturing costs of its single product have been budgeted as follows:
Direct materials $2.75 per unit
Direct labour $1.50 per unit
Factory overhead:
Variable $0.25 per unit
Fixed (including $1000 depreciation) $5500 per month
Selling and administrative expenses, including depreciation of $300 per month, are all fixed and total
$3000 per month.

Other information is as follows:
The selling price of the product has been set at $6 per unit. Collections are scheduled as follows: 70% in month of sale, 28% in month following sale, and 2% uncollectable. The inventory of direct materials will be maintained at 25% of the next month's production requirements. 60% of each month's purchases will be paid for in the month of purchase, and the remainder in the following month. A cash discount of 2% will be taken on all purchases.The direct labour payroll, factory overhead and selling and administrative expenses will be paid for in the month incurred.Sales and production for the first three month's of the year have been scheduled as follows:
Units Sold Units Produced
January 6000 10 000
February 7000 10 000
March 9 000 12 000

Prepare a budget showing the cash receipts and cash payments for the months of January and February with supporting calculations.Prepare a report to the Chief Financial Officer of your organisation about employee motivation. In the report explain the differences between personal control and social control in organisations. Your explanation should include an evaluation of the ability of personal control theories to be used in motivating staff in an organisation.As positive group norms are valuable in an organisation your report should explain some of the ways in which positive group norms can be developed.


Cash Receipts Budget
Particulars January  February March
Budgeted Unit Sales 6000 7000 9000
Price Per Unit  $6   $6   $6 
Budgeted Sales Revenue  $36,000   $42,000   $54,000 
Selling and Administrative Overhead  $3,000   $3,000   $3,000 
Less: Depreciation  $(300)  $(300)  $(300)
Total Cash Receipts  $28,200   $42,480   $52,560 
Particulars January  February March
Units Produced 10000 10000 12000
Direct Material  $27,500   $27,500   $33,000 
Direct Labor Hours  $15,000   $15,000   $18,000 
Factory Overhead  $8,000   $8,000   $8,500 
Less: Depreciation  $(1,000.00)  $(1,000.00)  $(1,000.00)
Total Cash Payments  $49,500   $49,500   $58,500 
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