Recent Question/Assignment

Task OetaJs The test will consul of a combnation erf muttpie choice. short answer and problem-style questions.
Assessment 3
Assessment Type Case study - 2000 ? 10% word report and analysts - Individual Assignment
Purpose: This assessment ts designed to allow students to demonstrate their ability to analyse grren financial reformation relating to a management axountng problem, simiar to real world problems, and present their findings and conduct analysis of this informalon as it applies to accountng concepts It relates to learning outcomes a. b. c and d
Due Date Wook 10 - 9 00 am Monday of Week 10
Submason Students must upload their submason to the Moodie Assignment Link and Turmtin on the KOI Moodie Subject Home Page no later than 9 00 am Monday of Week 10. Th* .s the submesson due date and tme. A printed copy should also be handed to the Tutor during that Week s tutorial to assist with mark ng AJi submissions must bo accompanied by a signed KOI Assgnment Coversheet
Tope Management Accounting Problem (Case Study)
Connectta Ltd manufactures furniture for computer work stations. Connectta uses a job costing system.
The work in process inventory on 30 November consisted of the foltowing jobs
Job No Des croton Units Total cost
CC723 Computer caddy 20 000 $ 900000
CH291 Chair 15000 431 000
PS812 Pnnter stand 25000 250 000
! Total $1 581000
On 30 November, the companys finished goods inventory consisted of four items
Item Quantity and unit cost Total cost
Computer caddy 7 500 units @$64 each $ 480 000
Chair 19 400 units @ $35 each 679 000
Pnnter stand 21 000 units @$55 each 1 155 000
Desk 11 200 units @$102 each 1 142 400
[Total $3 456 400
At the end of November, the batonco m Connectta s materials m-.err.ory account, which ncludos both raw materials and purchased parts, was $668 000 Add tons to and requisitions from the materials inventory during December induded the following
Add tons and requisitions Raw materials Purchased parts
Add tons $242 000 $396 000
Job CC723 51 000 104 000
JobCH291 3 000 10 800
Job PS812 124 000 87 000
Job DS444(5000 desks) 65 000 187QQ0
Connectta app’ics manufacturing overhead on tho basis of machine hours The company s manufactunrg overhead budget for the year totalled $4 500 000 The company planned to use 900 000 machine hoixs during this period, which * the firm s estimated practical capacity Through the first 11 months of the year, a total of 830 000 machine hours were used, and actual manufactunng overhead amounted to $4 140 000
During December, machine hours and labour hours consisted of the lotlowing:
Account Machine hours Labour hours Labour cost
CC723 12000
A AAA 11600
n AAA $122 400
Un/a 1
PS812 I 4
’ 19 500 14 300 AW i
200 500
DS444 14 000 12 500 138 000
Indirect labour ! . 3000 29 400
Supervision 1 • • 57 600
Total 49 900 45 000 $591 100
The jobs completed n December and the unit sates for that month are as fo*ows
Job No Production rtoms Quantity completed items Quantity shipped
CC723 Computer caddy 20 000 Computer caddy 17500
CH 291 Cha* 15000 Chair 21000
DS444 Desk 5000 Pnneer stand 18 000
Desk 6 000
1. Descnbe when 4 ts appropriate for a company to use a job costrg system.
2. Calculate the balance m Comeclta s work tn process inventory account as at 31 December
3. Calculate the cost of the chairs m Connectta s fmished goods mvenlory as at 31 December
4 Actual manufacturing overhead incurred in December amounted to $252 000 Calculate Connectta s overappiod or underappliod overhead for the year
5. Explan two alternative accountng treatments for overapplied or urxlerapplied overhead balances when using / b costing system
6. Explan how activitybased costing could overcome the deficiencies mherent in the existing costing system
Task details Students are to analyse the given information, make calculations where relevant and draw relevant, supported conclusions and make justified recommendations Responses are to be formatted nto a professional report for each part of each question, as would bo expected of someone working m a modem accountant s office The report shoukj include: tide page, executive summary, table of contents, introduction, body, conclusion and reference list
Research requirements Students need to support their analyses with references from the text and a minimum of six (6) suitable, reliable and academically acceptable sources. Check with your tutor if you are unsure of the validity of sources Students socking Credit or above grades should support their analysts with increased number of reference sources comparable to the grade they are seeking
Marking Gude: Martes awarded will be based on the following entena.
1. Analyscsrdevant to task specification 25%
2 Costing techniques applied and evaluated 25%
3. Presentaton 25%
4. Research 25%
Marks will be scaled to a mark out of 20

Editable Microsoft Word Document
Word Count: 1831 words including References

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