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ACT202 Management Accounting
Questions:
Instructions:
➢ This assignment consists of two questions. The due date and time is noted in the unit information document as well as above.
➢ It is your responsibility to ensure you factor in any time difference between Darwin and other locations when submitting your assignment.
➢ Please construct your answer in the worksheet in Excel file and upload using the submission point for the assignment on Learnline.
➢ Marks will be given for the quality of your calculation formats (evident from the formulas on the Excel spreadsheet) even if your final calculations are not correct.
➢ Assignments submitted via e-mail will NOT be accepted.
➢ There is no need to complete a university cover sheet but DO please include your name, Student Number, and your tutor’s name.
➢ Do not include the actual question in your submitted assignment. You need to only include your answers to the questions.
Ethics:
This is not a group assignment, it is an individual assessment. Your solutions will likely be different from other students. If portions of your assignment are copied or very close to copying, all parties will be penalised for copying.
1. Alps Ltd manufactures & sells snowboards. The company manufactures a single model, the Slider. In the summer of 2020, Alps Ltd.’s management accountant gathered the following data to prepare budget for 2021. Variable manufacturing overhead is $14 per direct manufacturing labour hour. There are also $132 000 in fixed manufacturing overhead costs budgeted for 2021. The company combines both variable & fixed manufacturing overhead into a single rate based on direct manufacturing labour hours. Variable marketing costs are allocated at the rate of $250 per sales visit. The marketing plan calls for 30 sales visits during 2021. Finally, there are $30 000 in fixed non-manufacturing costs budgeted for 2021. The inventoriable unit cost for ending finished goods inventory on 31 December 2020 is $580. 80. Assume Alps uses FIFO inventory method for both direct materials & finished goods. (Ignore work in process).
a) Prepare Sales budget for 2021
b) Prepare production budget for 2021
c) Prepare the direct material usage & purchase budget
d) Prepare direct manufacturing labour budget
e) Prepare manufacturing overhead budget
f) What is the budgeted manufacturing overhead rate?
g) What is the budgeted manufacturing overhead cost per unit for 2021?
h) Calculate the unit cost of a snowboard in closing inventory on 31 December 2021.
i) Prepare ending inventory budget for 2021.
j) Prepare cost of goods sold budget for 2021
k) Prepare budgeted income & expenditure statement for year ending 31 December2021
l) Prepare the budgeted balance sheet for Alps Ltd as at 31 December 2021
2. Romper Rugs is holding two-week carpet sale at Tommy’s Club, a local warehouse store. Romper Rugs plans to sell carpets for $500 each. The company will purchase the carpets from a local distributor for $350 each, with the privilege of returning any unsold units for a full refund. Tommy’s club has offered Romper Rugs two payment options for the use of space
Option 1: A fixed payment of $5 000 for the sale period
Option 2: 10% of total revenue earned during the sale period. Assume Romper Rugs will incur no other costs.
Required:
a. Calculate the breakeven point in units for : (i) option 1 and (ii) option 2
b. At what level of revenues will Romper Rugs earn the same profit under either option?
(i) For what range of unit sales will the company prefer option 1?
(ii) For what range of unit sales will the company prefer option 2?
c. Calculate the degree of operating leverage at sales of 100 carpets for the two rental options.
d. Explain and interpret your answer to requirement
ACT202 Management Accounting
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