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CREATE A HANDWRITTEN MANUAL SOLUTION AND A SPREADSHEET SOLUTION

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CREATE A HANDWRITTEN MANUAL SOLUTION AND A SPREADSHEET SOLUTION

Task

Your assignment consists of different question styles including discussion questions, reports, exercises, problem questions and spreadsheet questions. It assesses learning outcomes as listed in the assignment rationale below.

The purpose of this assignment is to continue to develop skills in costing systems with an emphasis on the role of control in managing the production of goods and services efficiently in the workplace. Each question builds on the knowledge gained through the first assignment to develop the concepts of management accounting control through costing. Each question uses realistic data and professional practices similar to that found in workplaces.

QUESTION 1 Job costing (20 marks)
A. Create a handwritten/manual solution AND a spreadsheet solution to the following problem. Follow the template provided. Scan or use your phone to paste a copy of your manual solution in your assignment submission.

Play the Job Cost podcasts and work through the example problem in those podcasts.

Design your spreadsheet to meet the assignment requirements set out above. In particular, check the spreadsheet requirements and the Spreadsheet Advice PDF.

  1. B. Did you create the manual solution or the spreadsheet solution first? Why?
  2. Contrast job costing, process costing and operations costing. Give your own examples.

QUESTION 2 Process costing (15 marks)
Prepare a spreadsheet to solve the following process costing problem.

QUESTION 3 Joint costing (15 narks)
Create a manual/handwritten solution AND a spreadsheet to solve the following joint cost problem. You may choose to scan or use your cell phone to copy and paste the manual solution.


The Dubbo Rubbo Liniment Company manufactures liniment. Three processes are involved.

Process 1 in which all chemicals etc. are added incurs costs of $124 000 for an output of 17 600 kg. Of this, 1600 kg is a sludge which is generally sold to road builders. The remaining 16 000 kg receives further processing. Of this 16 000 kg, 9000 kg goes on to Process 2 to become 9000 kg of A-grade liniment for an extra cost of $72 000. The A-grade liniment sells for $28 per kg. The other 7000 kg goes to Process 3 to become 7000 kg of B-grade liniment for an extra cost of $48 000. B-grade sells at $24 per kg. Sludge sells at $3.50 per kg, but costs $1 per kg to package safely.

Required:
(a) Assuming no opening or closing inventory is held, calculate the gross profit for the major products, using
(i) the physical units approach to allocate joint costs.
(ii) the net realisable value approach to allocate joint costs.
(b) Explain the reasons for your treatment of the by-product revenue. Describe one other way in which the by-product could have been dealt with and how this would have affected your answers to (a). 
 

Question 4 Variance analysis (20 marks)

  1. A. Answer the requirements using a spreadsheetANDa handwritten solution. Scan or use your phone to paste a copy of your handwritten solution in your assignment. Include the IF function to determine Favourable and Unfavourable variances.
    B. Prepare a Business Report as if for senior management  why the materials price variance should be calculated on purchase, other areas in an organisation where variance analysis would be useful and the practical relevance of detailed overhead variance analysis. See the reading by Murray Wells. Search the CSU library for the ACC512 readings. Suggested word limit about 500 words. Ensure that your answer is in business report format. Read the following online references regarding business report writing.


QUESTION 5 Budgeting (20 marks)

  1. Prepare a handwritten solution and a spreadsheet solution.Scan or use your phone to take a picture and paste in your submission.
  1. B. Write a business report describing budgeting as a non technical process. Refer to satisficing, budgeting as a political process and budget ploys. Give examples. About 500 words excluding references. Use the Internet as a reference ANDrefer to one or more relevant academic research paper. See the text page 249.
  2. C. Find a humorous cartoon image relevant to budgeting on the web. Paste the image in your assignment and provide a brief explanation of the image.

The presentation  for this assignment is weighted at 10 marks.

Rationale

This assignment assesses your achievement of learning outcomes including the application of cognitive skills in the design and operation of costing systems; the design and operation of performance management systems; the role of management accounting in organisational contexts and the implications for management accounting of different paradigms; the application of analytical and synthetical skills in report writing; quantitative techniques and computer software including using the Internet as a professional source; the creation and implementation of computerised decision models; and to critique how managers make decisions.

In particular, this assignment is designed to assess your application of knowledge, understanding and skills in certain topics including cost flows in management accounting, spreadsheet construction, job and process costing, variance analysis, joint costing and budgeting.

For spreadsheet problems, good answers will comply with the spreadsheet requirements including the separation of data entry and report/solution areas, pasted normal and formula view with row and column headings and the use of the IF function where appropriate.
Review the examples in the Spreadsheet Advice PDF provided online in Interact2 Resources.

For spreadsheet questions formula views showing row and column headings are important.
 

Your assignments will be marked as a whole with recognition being given to application of knowledge, quality thinking and application of skills. For some questions, students have a chance to demonstrate some creativity, or provide their own examples or give evidence of wider reading or structure a computer spreadsheet model in an innovative manner. We also need to avoid the snowballing effects of cumulative errors - that is, an error early in a practical question which carries through. Thus a marking system is used with deductions for errors and omissions. Full marks are possible for well structured, complete, quality answers.
 

The marking criteria for your assignments will be based on the content of the subject as identified by the learning objectives as outlined above and at the beginning of each of the various topics as outlined at the beginning of each Interact2 topic. Good spreadsheet answers will comply with the assignment requirements.

Criteria

Relevance of the answer - are the important issues raised in the question identified? Did the student answer the questions?
Critical capacity. Has reference material been carefully analysed or critically accepted?
Structure of the answer. Is the answer well-structured and the argument logically developed?
Writing style. Is the style concise and lucid or confused, making it difficult for the reader to get the point?
Scope of reading. Does the answer indicate a satisfactory coverage of literature relevant to the questions?

Answers should:

be well planned with arguments flowing logically;
use correct sentence structure, punctuation and spelling;
present original ideas where appropriate;
and present a justified conclusion and acknowledge all sources.

Note:
Normal distribution curves for grades are not utilised in this subject. Penalties will apply for late submission at 10% of the total mark available per day; it is important that submitted assignments are complete; omitted answers will result in mark deductions; refer to the University regulations contained in the CSU online handbook for matters pertaining to special consideration, misadventure and extenuating circumstances, academic misconduct, code of conduct for users of electronic facilities, assessment regulation, grading scale, progression and academic performance, grade point average, examination regulations and other matters pertaining to assessment. The regulations can be found at the University`s web site:

You can discuss your work with each other prior to submission using the discussion forum. However, please do not post complete versions of answers to the forum. Do not leave assignments until the last minute.
 

Marking Criteria Rubric Assignment 2

Criteria

High Distinction

Distinction

Credit

Pass

Criteria for expected learning outcomes to be achieved include critical evaluation of cost and control systems, understanding and applying cost concepts in management accounting, creating computer models to solve costing and decision situations such as job costing, process costing, joint costing variance analysis, authentic scenarios for cash budgeting and business report writing.

Be the result of your original work, complete without any omissions and correct. 
Evaluate all the issues raised in questions.
Provide examples where appropriate
Accurate answers complying with all spreadsheet requirements relevant to each scenario.

Be the result of your original work, be mostly complete without any omissions, and be mostly correct
Evaluate most of the issues raised in questions
Provide some examples where appropriate
Comply with the majority of spreadsheet requirements relevant to each scenario.

Be the result of your original work, be mostly complete with few omissions, and be partially correct.
Evaluation of some of the issues raised in questions. 
Provide examples where appropriate. 
Comply with some of the spreadsheet requirements relevant to each scenario.

Be the result of your original work, be mostly complete with some omissions, and be partially correct.
Discuss some of the issues raised in questions
Provides some examples where appropriate
Comply with some spreadsheet requirements relevant to each scenario.

The discussion answers and business reports meet academic standards of syntax, vocabulary, spelling and punctuation and reflects an awareness of audience needs.

Accurate use of syntax, spelling and punctuation; correctly refers to a variety of sources to support arguments, including the prescribed texts and a range of additional readings; reference list of the range of resources used, correctly formatted using APA style.

Accurate use of syntax, spelling and punctuation; succinct and effective use of vocabulary; correctly refers to a range of sources to support arguments, including the prescribed text and a variety of further readings;
reference lists a range of relevant resources used, correctly formatted using APA style.

Accurate use of syntax, vocabulary, 
spelling and punctuation; correctly refers to more than the minimum requirement of sources to support arguments, including 
prescribed texts and recommended readings;
reference list formatted in APA style, with few or no errors.

Mostly accurate syntax, spelling and punctuation; correctly refers to minimum number of sources to support arguments, including prescribed texts; reference list used, formatted in APA style, with few errors.

 

Presentation

Important! Check the presentation requirements for assignment 1.

Requirements

Important! Please check the requirements for assignment 1

 


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  • Title: CREATE A HANDWRITTEN MANUAL SOLUTION AND A SPREADSHEET SOLUTION
  • Price: £ 109
  • Post Date: 2018-11-10T06:13:16+00:00
  • Category: Assignment
  • No Plagiarism Guarantee
  • 100% Custom Written

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