ACCTG 221: COST & MANAGEMENT ACCOUNTING ASSIGNMENT 1 (2023, Semester two)
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ACCTG 221: COST & MANAGEMENT ACCOUNTING
ASSIGNMENT 1 (2023, Semester two)
Instructions:
(1) Assignments are due on Friday, 11 August 2023, at 4:00 pm. You have one week from today for this assignment.
(2) Please answer all questions online on Canvas by the due date.
(3) By completing this assignment, you agree to the following declaration:
I understand that the University expects all students to complete coursework with integrity and honesty. I promise to complete all online assignments with the same academic integrity, standards and values. Any identified form of poor academic practice or academic misconduct will be followed up and may result in disciplinary action.
As a member of the University's student body, I will complete this assignment fairly, honestly, responsibly, and trustworthy. This means that:
• I declare that this assignment is my own work, except where acknowledged appropriately (e.g., use of referencing).
• I will not seek out any unauthorised help in completing this assignment.
• I know that the University of Auckland may use Turnitin or any other plagiarism-detecting methods to check my content.
• I will not discuss the assignment's content with anyone else in any form, including, Canvas, Piazza, Facebook, Twitter, Chegg or any other social media within the assignment period.
• I will not reproduce the content of this assignment anywhere in any form.
• I declare that I generated the calculations and data in this assignment independently, using only the tools and resources defined for use in this assignment.
• I declare that I composed the writing and/or translations in this assignment independently, using only the tools and resources defined for use in this assignment.
• It is your responsibility to ensure that noone copies your work. Students with high similarity results on Turnitin face the risk of being awarded a zero mark for the work and face potential disciplinary action.
Assignment one contains forty-four questions, which are presented under two main questions and include three main topics: cost behaviour, cost-profit volume analysis and job costing (worth 100 marks). You must answer all questions on Canvas.
Use actual numbers (with all decimal places) for all calculations, but round the final answers to a full unit with no decimal places when answering the numeric questions on Canvas (unless asked otherwise). Numeric answers must be presented without explanation, bracket, $, or a positive (+) sign.
Assignment 1 Questions
Q1: Cost behaviour and Cost Profit Volume Analysis
Atlas LTD manufactures and sells standard Kitchen rubbish bins in New Zealand. Please use the attached Excel file, which contains weekly estimations for materials, labour, total costs, sales volume and values for the current year. Please note that there are forty-eight working weeks per year (in this question), and all your yearly calculations should be based on 48 weeks (not 52 weeks, as there are four weeks of annual leave).
Required:
Please use the data Excel file on Canvas to answer questions 1 to 26 on Canvas (online). (58 marks).
Hit: all questions are based on either regression or High & Low models. If the term 'High & Low'is not shown in the question, use a regression model to answer the question.
Q2: Job Costing
The Department of Accounting & Finance of Auckland University plans to offer a Master of Business Management (MBM). This master's program will equip graduates from any field with the capabilities required to advance careers in management and marketing. A choice of three specializations will develop capabilities that will enable you to apply analytical and solution-seeking skills to organizational challenges:
Course 1: Strategic Management
Course 2: Digital Marketing*
Course 3: Human Resource Management*
Courses are scheduled in the evenings and within quarter-based teaching term dates to provide flexibility for working professionals.
Table 1: Courses data
|
Course one |
Course two |
Course three |
Number of students in each course |
74 |
57 |
99 |
Lecturer salary per course |
$17,717 |
$18,310 |
$20,506 |
Printed materials per student |
$63 |
$74 |
$88 |
Occupancy costs per course |
$19,462 |
$19,998 |
$14,223 |
Budgeted department overhead per course |
$1,246 |
$1,246 |
$1,246 |
Budgeted room cleaning and electricity costs per course |
$1,694 |
$1,794 |
$1,854 |
Marking cost per student |
$89 |
$69 |
$61 |
Actual department overhead per course |
1,276 |
$1,276 |
$1,276 |
Actual room cleaning and electricity costs per course |
$1,666 |
$1,766 |
$1,826 |
The budgeted number of faculty courses |
128 |
Budgeted faculty overhead costs |
$239,616 |
The budgeted number of university courses |
1713 |
Budgeted university overhead costs |
$6,036,612 |
The actual number of faculty courses |
110 |
Actual faculty overhead costs |
$362,780 |
Actual number of university courses |
1738 |
Actual university overhead costs |
$6,706,942 |
Required:
Please use the above information to answer questions 27 to 44 on Canvas (online). (42 marks)
Hit all costs (including department, faculty and University overheads must be included in the course costs and tuition fees). There are only two variable cost items; the rest are fixed.
Learning Resources
The following online resources may help prepare your assignment using Excel:
• How to prepare a regression analysis in Excel:http://www.dummies.com/how-to/content/use- statistical-regression-to-estimate-cost-behavi.html
• How to do Linear Regression with Excel Data Analysis Toolpak - YouTube
• Regression In Excel | Excel Regression Analysis Explained | Excel Tutorial | Simplilearn -
2023-08-11