HA2011 Management Accounting Online Tutoring
HA2011 Management Accounting
Unit Code: HA2011
Unit Name: Management Accounting Online Tutoring: Tutorial Questions Online Tutoring 1 Due: 11:30pm 15th May 2020
Weighting: 25%
Total Online Tutoring Marks: 50 Marks
Purpose: This assignment is designed to assess your level of knowledge of the key topics covered in this unit
Unit Learning Outcomes Assessed:
- Calculate fixed and variable costs, contribution margin, contribution margin ratio, break-even point in sales dollars and units, and target sales volume in dollars and
- Appraise how pricing decisions are
- Calculate both return on investment and residual income and explain how each method is used.
- Apply the concept of costs to various costing systems including justification of cost and system choices.
- Implement systems to plan and control business
Description: Each week students were provided with three tutorial questions of varying degrees of difficulty. These tutorial questions are available in the Tutorial Folder for each week on Blackboard. The Interactive Tutorials are designed to assist students with the process, skills and knowledge to answer the provided tutorial questions. Your task is to answer a selection of tutorial questions from weeks 1 to 5 inclusive and submit these answers in a single document.
The questions to be answered are:
Week 1 Question (10 marks)
Refer to the following information listed below:
| Direct material used | $150,000 |
| Selling costs | $5,000 |
| Indirect labour | $7,000 |
| Administrative costs | $10,000 |
| Depreciation on factory equipment | $70,000 |
| Direct labour | $40,000 |
| Overtime premiums paid | $20,000 |
| Indirect materials | $45,000 |
Based on the information provided above, calculate the period costs: A. $15,000
- $20,000
- $190,000
- $372,000
Week 2 Question (10 marks)
Yang Manufacturing makes a product called Yin. The relevant range of operations is between 2,500 units and 10,000 units of Yin per month. Per unit costs at two activity levels are as follows: 5,000 units at $17.00 per unit; 7,500 units at $13.00 per unit. Determine the cost formula that expresses the behavior of Yang’s total costs.
Week 3 Question (10 marks)
The following information relates to Wells Fargo for July 2008: Actual direct labor costs $80,000
Actual direct labor rate per hour $8 Factory overhead rate per direct labor hour $12 Factory overhead incurred $160,000
Assuming underapplied or overapplied overhead is transferred to cost of goods sold at the end of the period, calculate the cost of goods sold account.
Week 4 Question (10 marks)
Fedora Inc. uses a weighted-average process costing system and has one production department. All materials are introduced at the start of manufacturing. In contrast, conversion cost is incurred uniformly throughout production. The company had respective work in process inventories on 1 May and 31 May of 62,000 units and 70,000 units, the latter of which was 40 per cent complete. The production supervisor noted that Fedora completed 100,000 units during the month.
Costs in the 1 May work in process inventory were subdivided as follows:
- Materials = $40,000
- Conversion = $90,000
During May Fedora charged production with $300,000 of material and $710,000 of conversion, resulting in a material cost per equivalent unit of $2.
Required:
- Determine the number of units that Fedora started during
- Compute the number of equivalent units with respect to conversion
- Determine the conversion cost per equivalent
- Compute the cost of the 31 May work in process
- What account would have been credited to record Fedora’s completed production?
Week 5 Question (10 marks)
The following information relates to the Moonie Park Manufacturing Company for the year 2012.
Plant capacity 480,000 machine hours
Normal level of production 432,000 machine hours
Budgeted level of production 360,000 machine hours
Budgeted manufacturing overhead $2,160,000 Actual manufacturing overhead for the month of $175,000 Actual machine hours used for February 2012 35,000
Calculate the predetermined overhead rates per machine hour based on practical capacity, normal capacity and budgeted capacity respectively.
HA2011 Management Accounting
Management Accounting deals with the practice to identify, measure, analyze, interpret and communicate financial information to managers in order to achieve organization goal. This subject differs from financial accounting as the willful purpose of managerial accounting is to guide users internal to the company, so that an informed business decision could be taken.
How Management Accounting works?
Management accounting embraces multiple dimensions of accounting, intended to enhance the information quality delivered to management about business operation metrics. The information related to sale and cost revenue of services and goods generated by company is used by managerial accountants. The cost accounting aspect is a large subset of management accounting that particularly tends to concentrate on apprehending company’s total cost of production by evaluating the variable cost of every production step, including fixed cost. All these practices allow business to figure out and eliminate pointless spending and maximize profits.
Accounting and company performance information is a fundamental key to derive business decisions. Today, ground in the profession of accounting requires inclusion of information related to technology, accounting systems and data analysis to communicate and develop vital insight that adds value to the organizations and firms.
The skills required to solve assessments on the course HA2011 Management Accounting includes data analysis techniques and applied software skills to identify key drivers of business profitability. It can help to prepare financial or business reports and analysis of financial systems respectively. Also, hands on business technology can help to store, capture and visualize data. Acquiring managerial accounting skills can assist in strategic management and cost consulting for industry, assurance and risk assessments and reporting tools to successfully manage business.
Types of Managerial Accounting
- Product Valuation and Costing
- Cash Flow Analysis
- Inventory Turnover Analysis
- Constraint Analysis
- Financial Leverage Metrics
- Accounts Receivable (AR) Management
- Budgeting, Forecasting and Trend Analysis
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Accountancy acts as a backbone of business, and hence a major study discipline. Management accounting is a tough subject as it incorporates the concepts from two different domains. Financial information of the company is used by managers to make well-informed decisions. The assignment requires interpreting business services and cost to articulate financial account and report to assist manner decision that directs accomplishing business goals. Is it too challenging for you to come up with accurate answer to the question? Do you have weak grip on subject basics? Nothing to worry about, the experts at Online Tutoring Australia can help you get over academic issues. The experts use appropriate ideas and techniques to handle information to support management and construct rational choice to achieve organization purpose. It’s a semester long-task that requires incorporating every aspect learned. So in case, if you stuck at any stage of completing paper or want Online Tutoring from scratch, then count on myassignmenthelp. We offer affordable quality assignment at finger tips. So don’t hesitate and hire a subject professional to cater your managerial accounting Online Tutoring request.
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