HI5017: Managerial Accounting Synthesize and Critically Analyse Information - Accounting and Finance Assignment Help

Assignment Task:

Task:

Unit Learning Outcomes Assessed:

1. Synthesize and critically analyse information from various sources and provide recommendations to improve the operations of organisations through the application of management accounting techniques;

2. Critically evaluate the various approaches to performance measurement and control in various types of organisations, and devise and evaluate indicators of performance.

3. Demonstrate the need for a balance between financial and non-financial information in decision making, control and performance evaluation applications of management accounting.

4. Analyse a company’s financial statements and/or management reports and identify the strengths and weaknesses of the company and articulate these to the various stakeholders.

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 and submit these answers in a single document. 2 The questions to be answered are:

Question 2 - Week 3 (7 marks) Tik Tok Company manufactures customized coffee tables. The following relates to Job No. X10, an order for 150 coffee tables: Direct materials used $22 800 Direct labour hours worked 600 Direct labour rate per hour $16.00 Machine hours used 400 Applied factory overhead rate per machine hour $30.00 Required: a) What is the total manufacturing cost for Job No. X10? (3 marks) b) Calculate the cost per coffee table for Job No. X10? (2 marks)

c) List two uses of this unit cost information to the managers at Tik Tok Company. (2 marks)

Question 2 - Week 5 (11 marks) TikTok Electronics manufactures an aluminium fibre tripod model “TRI-X” which sells for $1,600. The production cost computed per unit under traditional costing for each model in 2019 was as follows: Traditional Costing TRIX Direct Materials $700 Direct Labour ($20/hour) $120 Manufacturing overhead ($38 per DLH) $228 Total per unit cost $1, 048 In 2019, TikTok Electronics manufactured 26,000 units of TRI-X. Under traditional costing, the gross profit on TRI-X was $552 ($1,600-$1,048). Management is considering phasing out TRIX as it has continuously failed to reach the gross profit target of $600. Before finalizing its decision, management asks TikTok Electronics management accountant to prepare an 3 analysis using activity-based costing (ABC). The management accountant accumulates the following information about overhead for the year ended December 31, 2019. Activity Cost Pools Cost Drivers Estimated Overhead Expected Use of Cost Drivers Purchasing Number of orders $1,200,000 40,000 Machine setups Number of setups 900,000 18,000 Machining Machine hours 4,800,000 120,000

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