ACC302 : Strategic Management Accounting Individual Assignment - Management Assignment Help

Assignment Task:

Task:

Part 1: Case study/problem question (10 marks)
Heaven Company is a small producer of fruit-flavored frozen desserts. For many years, its products have had strong regional sales because of brand recognition; however, other companies have begun marketing similar products in the area, and price competition has become increasingly important. Mark Jade, the company’s controller, is planning to implement a standard cost system for Heaven and has gathered considerable information from his coworkers about production and materials requirements for Heaven products. Mark believes that the use of standard costs will allow the company to improve cost control, make better pricing decisions, and enhance strategic management.Heaven’s most popular product is Strawberry sherbet. The sherbet is produced in 10-gallon batches, each of which requires 6 quarts of good raspberries and 10 gallons of other ingredients. The fresh strawberries are sorted by hand before they enter the production process. Because of imperfections in the raspberries and normal spoilage, 1 quart of berries is discarded for every 4 accepted. The standard direct labor time for sorting to obtain 1 quart of acceptable strawberries is 4 minutes. The acceptable strawberries are then blended with the other ingredients; blending requires 12 minutes of direct labor time per batch. After blending, the sherbet is packaged in quart containers. Mark has gathered the following price information:
Heaven purchases strawberries for $5.00 per quart. All other ingredients cost $2.50 per gallon.
Direct labor is paid at the rate of $16.00 per hour.
The total packaging cost (labor and materials) for the sherbet is $0.75 per quart.
Required
Develop the standard cost for the direct cost components of a 10-gallon batch of strawberry sherbet. For each direct cost component, the standard cost should identify the following:

• Standard quantity.
• Standard rate (or price).
• Standard cost per 10-gallon batch, rounded to 2 decimal places (e.g., $13.431 = $13.43).
• As part of the implementation of a standard cost system at Heaven, Mark plans to train those responsible for maintaining the standards to use variance analysis. He is particularly concerned with the causes of unfavorable variances.
• Discuss the possible causes of unfavorable direct materials price variances, identify the individuals who should be held responsible for them, and comment on the implications of these variances on strategic cost management.
• Discuss the possible causes of unfavorable direct labor efficiency variances, identify the individuals who should be held responsible for them, and comment on the implications of these variances on strategic cost management.
• Part 2: Critical Analysis questions
• Length: Approximately 1500 words (+/_ 10% tolerance) excluding references.
• Submission file type: MSWORD only.
• Submission Instructions:
• The first page of the assignment must contain the following:
• Assignment title: "Individual Assignment"
• Subject Code/Name: ACC302 Strategic Management Accounting
• Student full name/ID:
• Write answer to the requirements outlined below.
• Total marks: 20(each question is worth 2 marks)
• Use other relevant articles or sources with references, if needed.
• Refer to the Academic Integrity in the subject learning guide regarding plagiarism.
• The assignment will be checked through Turn-It-In for copying and cheating in any form including contract cheating.
• Extensions, late submission and penalties - refer to GBC policy.
• REQUIREMENTS: Please read the articles available on the ACC302 MOODLE dashboard under "Assessment":
• Use the questions as a guide to the contents in the report.
• Provide an introduction body and conclusion.
• Read the articles and write the answer to the following questions in a report format.
• How does the balanced scorecard shift the attention from financial measures towards managing non-financial operational measures? Discuss the effect it has on improving organisational performance
• Critically discuss the role of the environmental policies and strategies the company adopts in protecting the future growth and market image.
• Discuss the financial measures and non-financial indicators that enable companies to progress in developing the capabilities and the intangible assets required for future growth and financial performance.
• What are management accounting mechanisms that encourage environmental performance?
• Discuss the multi-dimensional approach of the BSC on performance measurement. How do dysfunctional measures create undesirable behaviour and results?
• How does the BSC incorporate different stakeholders' interests, balances short- and long-term concerns and leading and lagging indicators? How does this provide the information needed to enable feed-forward control?
• How does SBSC satisfy a range of management needs regarding corporate sustainability issues and how does it assist companies in the implementation of a sustainable strategy?
• Discuss the contextual factors that drive companies to implement the SBSC and the approaches employed for SBSC application?
• Discuss the internal factors that shape of the sustainability information needs of managers? How will it push the boundaries of how accounting will be conducted?
• Discuss the challenges that small- and medium-sized enterprises (SMEs) face in pursuing sustainable strategies? How does this relate to the large companies' supply chain systems?

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