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Develop skills in costing systems with an emphasis on the role of control in managing the production

Task Your assignment consists of different question styles including discussion questions, reports, exercises, problem questions and spreadsheet questions. It assesses learning outcomes as listed in the assignment rationale below. The purpose of this assignment is to continue to develop skills in costing systems with an emphasis on the role of control in managing the production of goods and services efficiently in the workplace. Each question builds on the knowledge gained through the first assignment to develop the concepts of management accounting control through costing. Each question uses realistic data and professional practices similar to that found in workplaces.


QUESTION 1 Job costing (20 marks) A. Create a handwritten/manual solution AND a spreadsheet solution to the following problem. Follow the template provided. Play the Job cost podcasts and work through the example problem in those podcasts. Create a spreadsheet solution showing the row and column headings and the formula view. Your report section should be completely formula driven. Scan or use your phone to copy and paste an image of your handwritten attempt into your assignment. If using a smart phone, consider using a free scanning app such as Camscanner, Office Lens or Google Drive or search for an app. Let us know which app you chose. Design your spreadsheet to meet the assignment requirements set out above. In particular, check the spreadsheet requirements and the Spreadsheet Advice PDF.


QUESTION 2 Process costing (15 marks) Create a handwritten/manual solution AND a spreadsheet solution to the following problem. Scan or use your phone to capture an image and paste a copy of your manual solution in your assignment submission. Consider using a smart phone scanning app. Also paste a spreadsheet solution showing the row and column headings and the formula view. Your report should be completely formula driven. Design your spreadsheet to meet the assignment requirements set out above. In particular, check the spreadsheet requirements and the Spreadsheet Advice PDF.


QUESTION 3 Joint costing - decision making (15 marks) Create a handwritten/manual solution AND a spreadsheet solution to the following problem. Scan or use your phone to capture an image and paste a copy of your manual solution in your assignment submission. Also paste a spreadsheet solution showing the row and column headings and the formula view. Your report should be completely formula driven. Design your spreadsheet to meet the assignment requirements set out above. In particular, check the spreadsheet requirements and the Spreadsheet Advice PDF. See your text for examples. In particular see P6-11 page 182. Joint cost allocation: additional processing beyond split-off point In a certain production process 100 000 kg of a single raw material were processed at a cost of $250 000. At split-off two intermediate products, A and B emerged, weighed as 60 000 kg of A and 40 000 kg of B. A was processed further at a cost of $45 000 to produce C, and B was processed further at a cost of $25 000 to produce D. C sold for $4.50 per kg. Required: (a) If A was allocated $187 500 of the joint production costs under the net realizable value method, what was the selling price of D? (b) Suppose the firm receives an offer to buy all of product A for $2 per kg at the split-off point. Would the firm be better off selling A or processing further to produce C? By how much? Question 4 Variance analysis (20 marks) Create a handwritten/manual solution AND a spreadsheet solution to the following problem. Scan or use your phone to capture an image and paste a copy of your manual solution in your assignment submission. Also paste a spreadsheet solution showing the row and column headings and the formula view. Your report should be completely formula driven. Design your spreadsheet to meet the assignment requirements set out above. In particular, check the spreadsheet requirements and the Spreadsheet Advice PDF. The problem is adapted from P7-13 in your text page 202.

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