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 نقدم لكم حل واجبات #BE310-#B293 #BE211- #BE220 #DD202a- #B203a

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Mai Mansy
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عدد المساهمات : 8
نقاط : 24
تاريخ التسجيل : 08/04/2018

مُساهمةموضوع: نقدم لكم حل واجبات #BE310-#B293 #BE211- #BE220 #DD202a- #B203a   الأربعاء أبريل 11, 2018 8:25 pm






Arab Open University
BE310: TMA – Second Semester 2017-2018
Cut-Off Date: As decided by the Deanship
About TMA:
The TMA covers the cost accounting concepts and practices in the businesses. It is marked out of 100 and is worth 20% of the overall assessment component. It is intended to assess students’ understanding of some of the learning points within chapters 1 to 5. This TMA requires you to apply the course concepts. The TMA is intended to:
 Assess students’ understanding of key learning points within chapters 1 to 5.
 Increase the students’ knowledge about the reality of the cost and management accounting as a profession.
 Develop students’ communication skills, such as essay writing, analysis and presentation of material.
 Develop the ability to understand and interact with the nature of the managerial accounting tools in reality.

The TMA:
The TMA requires you to:
1- Review various study chapters of ’Cost Accounting’ Book and apply some of the concepts within it.
2- Conduct a simple information search using the internet.
3- Present your findings in not more than 1,200 words (900 words for Part A and 300 words for Part B). The word count excludes headings, references, title page, and diagrams.
4- You should use a Microsoft Office Word and Times New Roman Font of 12 points.
5- You should read and follow the instructions below carefully. Each part of the process will carry marks for the assignment.

Criteria for Grade Distribution:
Criteria Content Referencing Structure and Presentation of ideas Total marks
Part A Part B
Cost Accounting at Chicago Chemicals Company Job Costing for XYZ Bicycles
Marks 60 40 (5) (5) 100







Part A

Cost Accounting at Chicago Chemicals Company

Chicago Chemicals manufactures variety of chemical products for various industries. Their major customers are various industries that manufacture products using chemical products. Chicago Chemicals has just begun manufacturing and distributing goods across GCC countries.

(a) Decision Making process at Chicago Chemicals Company

The decision-making process being adopted at Chicago Chemicals has been presented as below:

(Source: Nikita Dutta, economicsdiscussion.net, 2018)

(b) Cost & Inventory Information details of Chicago Chemicals Company for the year 2017

The Chicago Chemicals Company has provided cost, inventory and sales details for the year 2017. The details are as below:

Information Beginning of the year 2017 ($) End of the year
2017 ($) Cost for 2017 ($)
Direct Materials purchased 140,000
Inventory Details
Stock of Materials 52,000 24,000
Work in Process 32,000 36,000
Finished Goods 80,000 56,000
Direct Labour cost 308,000
Manufacturing Overheads
Indirect Labour 13,200
Factory Insurance 10,000
Depreciation on Machinery 9,200
Machinery Repairs 6,000
Factory Utilities 6,600
Miscellaneous manufacturing overheads 5,000
Other Information for the year 2017
Sales 800,000
Selling Expenses 30,000
Administrative Expenses 40,000

(c) Product A, B and C of Chicago Chemicals Company

The Company is also providing some cost and sales details about other three products A, B and C

A B C Total
Sales 10,000 15,000 20,000 45,000
Variable Cost 4,000 9,000 10,000 23,000
Fixed Costs
(absorbed using absorption rate) 3,000 3,000 3,000 9,000
Profit 3,000 3,000 7,000 13,000


(d) Estimations about number of units and costs for Product “D”

The company has estimated the variable cost per unit, fixed costs and the number of units to be produced for the next four years as below:

Year Expected units to be produced (units) Variable cost per unit ($) Total Fixed Costs ($)
2018 150,000 40 600,000
2019 200,000 40 600,000
2020 350,000 40 600,000
2021 500,000 40 600,000



















Required

1. The CEO of Chicago Chemicals wants to re-structure the existing decision-making process; the management accountant is seriously thinking about implementing five – step decision making process.

In this context, explain about five step decision making process and explain how this approach can help Campbell to strengthen its key success factors. (15 marks)

(2). Using the Inventory, Cost and Sales details given above in (b) Chicago Chemicals Company,

(i) Construct the schedule of cost of goods manufactured (15 marks)

(ii) Prepare an Income Statement for Chicago Chemicals Company for the year 2017. (10 marks)

(3) Using sales and cost details given above for products A, B and C in (c), Compute the following:

(i) contribution margin ratio (as a percentage) (5 marks)

(ii) new contribution margin ratio (as a percentage) if the sales mix of products were to be changed to A – 20%, B – 50% and C - 30%. (10 marks)

(4) Using the information given above for Product D (in d above) ascertain the total Cost for the respective output levels of Product D and the respective cost per unit (5 marks)

(15 + 15 + 10 + 5 + 10 + 5 = 60 marks)

Part B

Job Costing for XYZ Bicycles
XYZ bicycles manufactures a single product A. It has two cost centers namely molding department and painting department.

Information Assembly Department Painting Department
Total Manufacturing overheads $ 602,000 $ 735,000
Total Machine hours (estimated) 70,000
Total Direct Labour Cost $ 420,000






XYZ bicycles executes a job no. 500 The cost and output details of Job No.500 are given below:

Information Assembly Department Painting Department
Direct Materials $ 470 $ 332
Direct Labour $ 290 $ 680
Number of machine hours used in job no. 500 110 hours
Output (units)
(expected to be received from Job No. 500) 50 units

Overheads allocation to Job No. 500 will be as follows:

(i) Assembly department overheads will be allocated based on machine hours

(ii) Painting Department overheads will be allocated using direct labour costs (as a percentage).


Required

(1) Calculate overhead absorption rate for Assembly Department and Painting Department based on allocation bases given above (10 marks)

(2) Calculate the overheads (in $) to be allocated (applied) for Job No. 500 based on overhead absorption rate calculated above in question no. 1 (10 marks)

(3) Ascertain the total cost of Job No. 500 and the cost per unit (10 marks)


(4) Discuss in brief some of the advantages and disadvantages of Activity Based Costing Method (10 marks)

(10 + 10 + 10 + 10 = 40 marks)




END OF TMA QUESTIONS


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