fungxieupdate1.docx
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fungxieupdate1.docx
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fungxieupdate1
AssignmentFrontPage
CollegeofForeignLanguagesBeijingUniversityofTechnology
IMPORTANTYOURASSIGNMENTWILLNOTBEACCEPTED
FORASSESSMENTWITHOUTTHECOVERINGSHEETS
BTECPROGRAMME:
…………………………………PartA :
Unit9ManagementAccounting………………….
ASSIGNMENTNo/TITLE:
……………advisorofyourcompany……………………………………………………………………....
STUDENTNAME..................................................................…………………….YEAR:
……2010...............
DATEDISTRIBUTED....………………Sept.30th2011……………….....
SUBMISSIONTIMEANDDATE…………Oct.31stNov.7th2011,……………………………………………....
SUBMISSIONPLACE:
……Rm.519,Bld.1……………,
ACTUALSUBMISSIONTIMEANDDATE........................................................................................
ASSESSMENTDATE...................................
ASSESSOR’SSIGNATURE.....................................
LATESUBMISSIONS:
ASSIGNMENTSWILLBEDOWNGRADEDACCORDINGLY
ASSESSMENTCRITERIA:
-PASS:
OUTCOMES
EVIDENCE
FORCRITERIA
FEEDBACK
ASSESSOR’SDECISION
INTERNAL
VERIFICATION
√
X
√
X
1.Collectandanalysecostinformationwithinabusiness
2.Proposemethodstoreducecostsandenhancevaluewithinabusiness
⏹identifyandclassifydifferenttypesofcost
⏹explaintheneedfor,andoperationof,differentcostingmethods
⏹calculatecostsusingappropriatetechniques
⏹collect,analyseandpresentdatausingappropriatetechniques
⏹prepareandanalyseroutinecostreports
⏹calculateandevaluateindicatorsofproductivity,efficiencyandeffectiveness
⏹explaintheprinciplesofqualityandvalue,andidentifypotentialimprovements
OUTCOMESANDCRITERIA
ASSESSOR’SDECISION(√ORX)
INTERNALVERIFICATION
(√ORX)
Meritgradesawarded
M1
M2
M3
Distinctiongradesawarded
D1
D2
D3
ASSESSOR’SCOMMENTS
Prepareandanalyseroutinecostreports
2.2Useperformanceindicatorstoidentifypotentialimprovements
2.3Suggestimprovementstoreducecosts,enhancevalueandquality
InternalVerificationYorN(RefertoIVRecord)
NameofVerifier……………………………….…Date…………………
Iamawarethatplagiarismisaseriousoffenceandcertifythatthecontentsofthisassignmentaremyownwork.WhereIhavereferredtoideasotherthanmyownIhaveacknowledgedthiswithareferencedbibliography.
Studentsignature…………………………………………………Date…………………
Allgradesaresubjecttoconfirmationbytheexternalverifier
Grading
PassAllcriteriaidentifiedintheassignmentaremet.
MeritUnderstandthebasicrulesofManagementAccountingandproperlyusearangeofmethodsandtechniquestocollect,analyseandproduceinformation/data.,i.e.explaintheneedfor,andoperationof,differentcostingmethodscalculatecosts.Thecandidatescanmakeadecisionontheproposalaswell.(M1)
Ajustifiedchoiceoftheaccountingtechniquesandconceptsappliedandusedtoanalyzethesituationfacedbythenewlyshownproductionchances.Thisjudgmentisbasedonanunderstandingoftherelevantprofitgivenbythenewproductionopportunities.(M2)
Themethodologytakeninanalyzingtheopportunitiesprovidedisinastandardformat(M3)
Distinction
Theinformationgatheredisaccurateandvalid.Thecandidatescanprocesscomplexdataaswell.Thedecisionmakingbasedonthedatagatheredisrelevant.(D1)
Thecandidatescanunderstandtheconceptsofvariablecostssufficiently,correctjudgmentandauditoftheenvironmentthecompanyisexperiencing.Theanalysisandthejudgmentareinterlinkedlogicallyandareconsistent.(D2)
Themethodologytakeninanalyzingtheopportunitiesprovidedisaccurate.TheproposalmustillustratethefullunderstandingoftheconceptsofManagementAccounting,i.e.theconceptsofcosting.Theproposalsmustofferarealisticandeffectivewayforwardforthebusiness.(D3)
NOTES:
Format:
PrintedFont:
TimesNewRomanFontStyle:
RegularSize:
12Paragraph:
Single
ASSIGNMENTNo/TITLE:
Anadvisorofyourcompany
YouarethefinancemanagerinadepartmentoftheCouncilthatmanufactureswindowunits.BesidessellingtheseunitstootherdepartmentsoftheCouncil,youalsosellthemtooutsidebusinesses.
Thecostsandrevenuesforyourdepartmentforthepresentfinancialyearareexpectedtobeasfollows:
£
Directlabour160,000
Directmaterials210,000
Factoryindirectexpenses*90,000
Administrationexpenses30,000
Sellinganddistributionexpenses20,000
Financeexpenses10,000
520,000
Netprofit80,000
Sales:
4,000unitsat£150each600,000
*Madeupofone-thirdfixedandtwo-thirdsvariableexpenses.
Towardstheendoftheyearthreeadditionalprojectscomeunderconsideration.Allofthesewouldrequireextraproduction.Theyare:
(i)Anewcustomerwouldtake200unitsannually.Theorderwouldbringaboutextravariablecostsindirectproportiontotheextraproductionneeded.Inadditionanextramachinewouldhavetobeboughtfor£30,000;itwouldlastforfouryearsbeforebeingscrapped,therebeingascrapvalueof£2,000.Theextrarunningcostsofthismachinewouldbe£18,000perannum.Thehighestpricethatcouldbepaidbythiscustomeris£250perunit.
(ii)Anexistingcustomersayshewilltake50additionalunitsperannum,butthepricewillhavetofallto£130perunitonthese50units.
(iii)Itisfeltthatthereissufficientcapacitywithinthebuildinginwhichthedepartmentishousedtoallowproductiontobeincreasedbyanadditional400unitsperannum.Thiswouldbringaboutextravariablecostsindirectproportiontotheextraproductionneeded.Inaddition,thesellinganddistributionexpenseswouldincreaseby£5,000,witha£3,000increaseintheadministrationexpenses.Anextramachinewouldalsohavetobeboughtfor£50,000;itwouldlastforfiveyearsbeforebeingscrapped,therebeingascrapvalueof£5,000.Theextrarunningcostsofthismachinewouldbe£16,000perannum.
Required:
Basedontheinformationabove,whatadvicewouldyougivetothedepartmentonwhetherornottheorder:
a)in(i)shouldbeaccepted?
and
b)in(ii)shouldbeaccepted?
Youshouldstatehowyoumightqualifythisadvice.
c)In(iii),howmuchwouldyouhavetochargeperunittoensurethatthedepartmentachievedanetprofitof£100,000perannum.Advisewhetherthisseemsareasonableproposition.(Assume(i)and(ii)arenotgoingahead.)
Directlabor£160,000
Directmaterials£210,000
Becausemadeupofone-thirdfixedandtwo-thirdsvariableexpenses.
Soactualfactoryindirectexpenses=£60.000(2/3of£90,000)
Totalcost=Directlaborexpenses+Directmaterialsexpenses+Actualfactoryindirectexpenses
=£160,000+£210,000+£60,000
=£430,000
Becausehave4,000units
Sothecostofeachunit=Totalcost/Totalunits=£430,000/4,000
=£107.5
Acostunitisaunitofproductorservicetowhichcostscanberelated.Thecostunitisthebasiccontrolunitforcostingpurposes.
Afixedcostisacostwhichisincurredforaparticularperiodoftimeandwhich,withincertainactivitylevels,isunaffectedbychangesinthelevelofactivity.
Becauseanextramachinewouldhavetobeboughtfor£30,000;itwouldlastforfouryearsbeforebeingscrapped,therebeingascrapvalueof£2,000.
So,Fixedcost=(£30,000-£2,000)/4
=£7,000
Avariablecostisacostwhichtendstovarywiththelevelofactivity.
Becausetheextrarunningcostsofthismachinewouldbe£18,000perannum.
SoVariablecostsis£18,000
Extracost=£7,000+£18,000
=£25,000
Becausehave200units
Soextracostofeachunit=£25,000/£200
=£125Becauseofexistcostofeachunitis£107.5andextracostofeachunitis£125
SoTotalcostsofeachunit=Existcostofeachunit+extracostofeachunit=£107.5+£125
=£232.5Because,thecostsis£232.5andthehighestpricethatcouldbepaidbythiscustomeris£250perunit.So,businessshouldbeaccepted.
BecauseDirectlabourexpensesis£160,000,Directmaterialsexpensesis£210,000,Factoryindirectexpensesis£90,000,Administrationexpensesis£30,000,Sellinganddistributionexpensesis£20,000andFinanceexpensesis£10,000.
So,Totalcosts=Directlabourexpenses+Directmaterialsexpenses+Factoryindirectexpenses+Administrationexpenses+Sellinganddistributionexpenses+Financeexpenses
=£160000+£210000+£90000+£30000+£20000+£10000
=£520000
Becausehave4,000units
So,Costofeachunit=Totalcosts/units
=£520000/4000
=£130
Becauseofthecostofeachunitis£130andpricewillhavetofallto£130perunit.Thebusinesswouldnotloss.
So,businessshouldbeaccepted.
Becauseanextramachinewouldalsohavetobeboughtfor£50,000;itwouldlastforfiveyearsbeforebeingscrapped,therebeingascrapvalueof£5,000.
SoFixedcosts=(Anextramachine-ascrapvalue)/5
=(£50,000-£5,000)/5
=£9,000
Becausetheextrarunningcostsofthismachinewouldbe£16,000perannum.
So,Variablecostsis£16,000
BecauseofFixedcostsis£9,000andVariablecostsis£16,000
SoExtracosts=Fixedcosts+Variablecosts
=£9,000+£16,000
=£25,000
Becausehave400units.
Sotheextrapriceofeachunit=£25,000/400=£62.5
BecausetheExistcostofeachunitis£107.5andtheextrapriceofeachunit£62.5
Socostofeachunit=Existcostofeachunit+extrapriceofeachunit
=£107.5+£62.5=£170BecauseDirectlabor£160,000Directmaterials£210,000Factoryindirectexpenses£90,000Administrationexpenses£33,000Sellinganddistributionexpenses£25,000Financeexpenses£10,000Sales:
400unitsat£170each68,000596,000Netprofitis£100,000Thesales=Sales+Netprofit
=£696,000Thesalesofperunits=£696,000/(4,000+400)=£158.18
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