Posted: September 15th, 2022

Assignment help – Discuss the role of management
accounting and ethical values

Unit Name/Code Management Accounting BACC2005
Assessment Type Assignment
Assessment Number 2
Assessment Name Individual Assignment
Unit Learning Outcomes
Assessed Learning Outcomes Graduate attributes
1. Assignment help – Discuss the role of management
accounting and ethical values in
different times of organisations
Communication: The ability to
communicate effectively, both orally
and in writing, with a diverse range
of audiences
Critical thinking and problem
solving: The ability to address and
solve problems creatively and in a
structured and methodical way
Flexibility: The ability to critically
assess and evaluate different
approaches to issues and problems
2. Describe and evaluate various
costing systems (e.g. product,
process, service and overheads).
Critical thinking and problem
solving: The ability to address and
solve problems creatively and in a
structured and methodical way
Flexibility: The ability to critically
assess and evaluate different
approaches to issues and problems
3. Apply the knowledge of product
costing to real-world management
accounting contexts.
Research: The ability to conduct
thorough, accurate and targeted
research
Critical thinking and problem
solving: The ability to address and
solve problems creatively and in a
structured and methodical way
Flexibility: The ability to critically
assess and evaluate different
approaches to issues and problems
Due Date and Time 25th September 2020 Friday 11:55 pm
Weighting 30% ( 20% Assignment questions + 10% Presentation)
Assessment Description This assessment will be short problem based questions and scenarios.
Students will apply Management and Cost accounting skills to solve this
individual assessment.
Detailed Submission
Requirements
Turnitin via Moodle
Question 1: Job Costing (10 marks)
The Designhill Company uses a normal job-costing system at its Melbourne plant. The plant has a machining
department and an assembly department. Its job-costing system has two direct-cost categories (direct materials
and direct manufacturing labour) and two manufacturing overhead cost pools (the machining department with
machine hours as the allocation base, and the assembly department with direct manufacturing labour costs as
the allocation base).
The 2020 budget for the plant were as follows:
Machining
Department
Assembly
Department
Manufacturing overhead $1,800,000 $3,600,000
Direct manufacturing labour costs $1,400,000 $2,000,000
Direct manufacturing labour-hours 100,000 200,000
Machine-hours 50,000 220,000
Required:
1) What is the estimated overhead rate that should be used in the:
a. Machining Department (2 mark)
b. Assembly Department (2 mark)
2) The job-cost record for Job F49 contained the following:
Machining
Department
Assembly
Department
Direct materials used $45,000 $70,000
Direct manufacturing labour costs $14,000 $15,000
Direct manufacturing labour-hours 1,000 1,500
Machine-hours 2,000 1,000
a) Compute the total manufacturing overhead costs allocated to Job F49. (3 marks)
b) Assuming that Job F49 manufactured 200 units of product, calculate the per-unit total
manufacturing cost for Job F49. (3 marks)
Question 2: Process Costing (10 marks)
Steelcase Company manufactures tables for business and home offices. The manufacturing process involves
the Production Department and the Quality Control Department, during which each table coming out of the
Production Department is immediately transferred to the Quality Control Department.
The company’s process-costing system requires two cost categories being direct materials and conversion
costs. Direct materials are added at the beginning of the process when the degree of completion for direct
materials is determined. Conversion costs are added evenly during the process.
The table below shows the relevant data for the Production Department for November 2020.
Physical
Units
(tables)
Direct
Material
Costs
Conversion
Costs
Work in process, 1 November 2020 (*)
Started during November 2020
Completed during November 2020
Work in process, 30 November 2020 (**)
Costs added during November 2020
12 000
23 000
30 800
4 200
$14 000
$38 000
$8 000
$24 000
Note:
(*) Degree of completion: 100% for direct materials and 40% for conversion cost
(**) Degree of completion: 100% for direct materials and 35% for conversion cost
Required:
Determine the cost per equivalent unit for the Steelcase Company’s direct materials and conversion costs,
and the total unit cost for the current period, under the FIFO method.
Show all workings. Templates are provided over the page for use.
FIFO Method
Equivalent units
Flow of production
Physical units
(tables)
Direct materials Conversion
Units to account for:
WIP, 1 November 2020
+ Units started during current period
= Units to account for (total)
Completed and transferred out
-From WIP, 1 November
-Started and completed in current
period
+ WIP, 30 November
=Units of work done in the current
period
Total
production
cost ($)
Direct materials
($)
Conversion costs
($)
Costs to account for:
WIP, 1 November 2020
+Costs added during current period
=Total costs to account for
Equivalent unit of work done in the
current period
Equivalent unit cost (FIFO)
Question 3: Video Presentation
Research and prepare a 2 minute video presentation on “Ethics in Management Accountings.”
Marking Guide
video
presentation
Content Quality 3
Quality of voice recording Audience engagement 3
Presentation voice pitch etc. Clear presentation 3
Grammar, spelling &
appearance
Grammar, spelling, formal
appearance for presentation
1
Total Marks 10
Assessment
Section Requirements Weight 30% HIGH DISTINCTION
100-85%
DISTINCTION
84-75%
CREDIT
74-65%
PASS
64-50%
FAIL
49-0%
Problem 1 10 Marks
Problem 2 10 Marks
Video presentation 10 Marks
TOTAL MARK 30 Overall comments:

Order | Check Discount

Tags: case study answers examples, custom essay, dissertation topic, free essays, help in assignment