ACCM4100 Assessment 3 Information Accounting
Evaluation three Info Topic Code: ACCM4100 Topic Identify: Administration Accounting Evaluation Title: Particular person Excel Task Evaluation Kind: Task Weighting: 20 % Whole Marks: 20 Submission: By moodle Due Date: Monday of week 11 – 31st Might 2021 Your Job You should put together and submit an excel spreadsheet which solutions the questions under. Evaluation Description Put together an excel spreadsheet to assist fulfill Studying Consequence 2: Formulate budgets and assemble a cost-volume-profit evaluation utilizing sensible eventualities. Evaluation Directions Messi Ltd manufactures wardrobes. You're employed within the accounting division and have been tasked with making ready the Price range for the following month. Messi makes two merchandise: Premium wardrobes - massive wardrobes with mirrors De Luxe wardrobes - medium sized wardrobes with an progressive shelving resolution and mirrors Direct manufacturing labour is three hours for the Premium wardrobe and 5 hours for the De Luxe. The budgeted direct materials utilization for every product in 2021 is: Sq. metres Premium De Luxe Mirrors 2 three Softwood 1 5 Opening direct supplies stock for January 2021 is: Sq. metres Premium De Luxe Mirrors 40 15 Softwood 10 30 Goal ending direct supplies stock (January 31) is: Sq. metres Premium De Luxe Mirrors 24 20 Softwood 6 40 Unit value information is anticipated to be the identical for January because it was in December 2020 for labour and all supplies as under: December 2020 (precise) January 2021 (budgeted) $ $ Mirrors per sq. metre 160 160 Softwood per sq. metre 125 125 Manufacturing labour value per hour 30 30 Manufacturing overhead (each variable and stuck) is allotted to every wardrobe on the premise of budgeted direct manufacturing labour hours. The budgeted variable manufacturing overhead charge for January 2021 is $35 per direct manufacturing labour-hour. The budgeted fastened manufacturing overhead for the month is $42,500. Each variable and stuck manufacturing overhead prices are allotted to every unit of completed items on the premise of direct manufacturing labour-hours. Assembling overhead (each variable and stuck) is allotted to each closet primarily based on deliberate direct assembling work hours.The deliberate variable assembling overhead charge for January 2021 is $35 per direct assembling work hour.The deliberate fastened assembling overhead for the month is $42,500. Each variable and stuck assembling overhead bills are assigned to each unit of accomplished merchandise primarily based on direct assembling work hours. Knowledge regarding completed items stock for January 2021 are: Premium De Luxe Opening Stock (items) 20 5 Opening Stock () $10,840 $four,850 Goal Ending Stock 30 15 Budgeted gross sales for January 2021 are 740 items of the premium and 390 items of the De Luxe. The budgeted promoting costs per unit in January 2021 are $1,zero20 for the Premium and $1,600 for the De Luxe. For the needs of calculating COGS and Closing Stock of completed items, value per unit for January 2021 is $670 for the Premium wardrobe and $1,480 for the De Luxe wardrobe. Assume the next in your reply: • Work-in-process inventories are negligible and ignored. • Direct supplies stock and completed items stock are costed utilizing the FIFO technique. • Unit prices of direct supplies bought and completed items are fixed in January 2021. REQUIRED: Put together the next budgets for January 2021: a) Revenues price range (2 Marks) b) Manufacturing price range in items (2 Marks) c) Direct supplies utilization price range and direct supplies purchases price range (each budgets in items and $) (four Marks) d) Direct manufacturing labour price range (2 Marks) e) Manufacturing overhead price range (2 Marks) f) Ending inventories price range (direct supplies and completed items) (2 Marks) g) Price of products bought price range (2 Marks) For every price range, put together by product (Premium and De Luxe) and in whole. Format of the spreadsheet makes it simple to learn and distinguishes clearly between the enter and output cells (2 Marks) Excel spreadsheets designed in a method that allows completely different enter information to be entered and routinely change the output information (2 Marks) Vital Examine Info Tutorial Integrity Coverage KBS values educational integrity. All college students should perceive the that means and penalties of dishonest, plagiarism and different educational offences below the Tutorial Integrity and Conduct Coverage. What's educational integrity and misconduct? What are the penalties for educational misconduct? What are the late penalties? How can I enchantment my grade? Click on right here for solutions to those questions: Phrase Limits for Written Assessments Submissions that exceed the phrase restrict by greater than 10% will stop to be marked from the purpose at which that restrict is exceeded. Examine Help College students could search research help from their native Tutorial Studying Advisor or seek advice from the sources on the MyKBS Tutorial Success Centre web page. Click on right here for this data.