2:59 PM a moodle.ubss.edu.au l vodafone AU 4G e 67% 1 of 2 BAP22 - Management Ac

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2:59 PM a moodle.ubss.edu.au l vodafone AU 4G e 67% 1 of 2 BAP22 - Management Accounting Trimester 1 2018 Group Assignment-20% This assignment has two parts: * Part A 37.5%(7.5 Marks) Technical or Practical This is a group-assignment. Each group needs to have 3 to 4 memibers in it. Please Please make sure that names and ID numbers of all As this is a group assignment, each member of your group is awarded the same mark Part B: 62.5 % ( 12.5 Marks) Report writing ( 1 500 words) organise yourselves into groups. cover sheet of your submission. group members are stated on the Part 1 board had a flood that destroyed the Natural pulp Ltd, a manufacturer of paper and paper company's work in process and finished goods inventories on 1 July. 2014. All raw materials escaped damage because they were stored in a warehouse situated on the hill The following information is available Sales revenue, I June to 30 June 2014 Income before taxes, I June to 30 June 2014 Direct labour cost 1 June to 30 June 2014 Direct material used. I June to 30 June 2014 S 420 000 Cost of goods available for sale, 1 June to 30 June 2014 Work in process inventory, 1 June 2014 Finished Gross 160 000 80 000 360 000 35 000 5 000 40% of sales l Jume 2014 The management accountant of the company estimated that the manufacturing overhead is 40% of the company's total manufacturing costs. REQUIRED: Prepare estimates of the following that were destroyed by the flood a) The cost of Work in Process. b) The cost of finished goods inventories Part 2 The value chain provides a useful framework for examining the areas where costs are incurred within a business, The value chain is a set of linked begins with acquiring resources and ends with providing goods and services that customers value" (Langfield-smith et al, 2013, p 44) processes or activities that

Explanation / Answer

Statement of Calculation

see above

*1. Finished stock of goods = 108,000

*2. Work in progress = 28,000

Particular Amont ($) Direct Material Cost 160,000 Direct labour Cost 80,000 Prime Cost 240,000 Add: Factory cost (40% of 240,000) 96,000 Gross Factory cost 336,000 Add: Opening Work in progess 35,000 Less: Closing Work in progress 28,000* Net factory cost 343,000 Add: Administrative Cost - Income Tax 70,000 Cost of production 413,000 Add: Opening stock of finished goods 55,000 less: closing stock of finished good (108,000)* Cost of goods sold 360,000 Add: Selling & distribution overhead Nil Cost of sales 360,000 Assumptions 1. income tax assumed as administrative overhead 2. profit is 40% of sales is not considered in this solution

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