ASSESSMENT GUIDEACCT604: Managerial Accounting, Semester 2, 2020Assessment number 1Individual reportWeighting [25%]Why this assessment?What are the types of employability skills that I will acquire upon completion of thisassessment?(link everything back to this will help you get a job – delete instructions after entering details)Assessment Overview:Purpose, as written in the EUO Due date:Friday, 4th September 2020, 23:00 (week # 6)Weighting:25%Length and/or format:1,500 ±10% words (excluding references, graphs, tables, appendices, etc.)Learning outcomes assessedLO1Graduate attributes assessedGA4, GA5, GA7 & GA8How to submit:Via LEO/TurnitinReturn of assignment:Within 2 weeksAssessment criteria:Rubric: see Appendix 3 • Methods of cost allocation; Industry analysis to facilitate the strategic management process.• Exposure to real-life scenario• The feedback from this assessment will help students to be ready to correct any conceptualmisunderstanding and apply in the next assessment Skill TypeDeveloped critical and analytical thinking✔Developed ability to solve complex problems✔Developed ability to work effectively with others☐Developed confidence to learn independently✔Developed written communication skills✔Developed spoken communication skills☐Developed knowledge in the field study✔Developed work-related knowledge and skills✔ 2ContextThis assignment provides students’ opportunities to practice cost allocations to product that requiresunderstanding of concepts of manufacturing overhead, differentiation of support and productiondepartments. The second part of assignment 1 requires a comprehensive industry analysis of a selectedASX company. Assignment 1 is prelude to assignment 2.InstructionsStudents are to access the ‘Assignment 1 quiz’ on LEO and copy the question (exemplar is shown inAppendix 1) using screenshot to a Word document as the question for part 1 of assignment 1. Thestudents then conduct their working using Excel spreadsheets. The ultimate submission would be asingle Word document submitted via Turnitin link and a single Excel spreadsheet submitted viaAssignment link. The requirements for Assignment 1 are listed below,1. Part 1. Based on the screenshot of question from the ‘Assignment 1 quiz’ and Compute the unitcosts of each roller based on assumptions of Gdansk Ltd uses plantwide predeterminedoverheads based on direct labour hours and uses the direct method to allocate the budgetedoverhead costs of support departments to the production departments. The student is thenrequired to criticize the current method of cost allocation and suggest the improvement of costallocations by writing a report as well as additional computations necessary in the Excelspreadsheet.2. Part 2. The students are to select an ASX listed company and provide a bigger picture of thecompany (see Appendix 2) by establishing the relationship of the organisation to otherorganisations within the industry value chain. Please note that this part of the assignment willbe used as part of future group assignment. The students are encouraged to discuss theselection of an ASX listed company among the group members for assignment 2.How do I submit?A written report of approximate 1,500 words in Word document is to be submitted via “Turnitin”submission link in LEO. Besides, an Excel spreadsheet recording all workings necessary to derive theunit cost information should be submitted via the “Assignment” submission link. Both Word documentand Excel spreadsheet files are to be submitted to their respective submission links before 5 pm on 4thSeptember 2020.Some Helpful Websites and ResourcesChapter 1, 2 and 3 of prescribed textbook Eldenburg, LG, Brooks, A, Oliver,J, Vesty, G, Dormer,R.,Murthy, V, Pawsey, N (2020, Management Accounting, (4th edn). (2020) Milton: John Wiley & Sonshttp://www.cimaglobal.comhttps://www.accountingtools.com/articles/cost-allocation-methods.htmlhttps://www-emerald-com.ezproxy2.acu.edu.au/insight/content/doi/10.1108/18325911111164204/full/pdfhttps://www.wineaustralia.com/news/articles/understanding-costs-and-saving-money-should-be-ashttps://www.ihpa.gov.au/what-we-do/costing3Who can help me?I’m having problemsPlease refers to University handbook 2020(https://handbook.acu.edu.au/handbooks/handbook_2020/policies_and_general_information/assessment_-_policy_and_procedure/assessment_policy) to download extension form or SpecialConsideration form, in the case of late submissions (see below).Unless an extension is granted, essays/assignments submitted after the due date will incur a 5% percalendar day penalty based on the maximum marks available for that assessment task. This penalty willrun up to a maximum of 15%. Assessment tasks received more than three calendar days after the dueor extended date will not be allocated a mark. Note: The 5% penalty will be incurred for each whole orpart of a calendar day that the work is overdueReferencingAll referencing should be in ACU Harvard style; however if you are coming from another faculty, you maychoose to use your usual referencing style. If this is the case you must indicate at the top of your referencelist what referencing style you are using (e.g. APA, MLA, Chicago, etc).Please ensure your assignment makes use of in-text citations and a reference list. Missing citations orreferences is equivalent to plagiarism.CriteriaThe full criteria are compiled in a rubric, which can be found on the following page/s. Name:Campus:Mr. Kwan Yee HewNorth SydneyOffice location:Level 6, Tenison Woods House, 8-20 Napier Street, North SydneyEmail:[email protected]Telephone:02-9739 2207 4Appendix 1Henry Roller Ltd has two production departments: assembly and finishing. There are also twosupport departments: maintenance and human resources (HR). The production departmentshave been using a plantwide predetermined overhead rate based on direct labour hours. Thefollowing estimates for the production departments were made for the current year: AssemblyFinishingTotalManufacturing overheads$xxx$xxx$xxxDirect labour hoursxxxxxxxxxMachine hoursxxxxxxxxx The budgeted overhead costs for the year for each support departments are as follows:Maintenance $xxxHR $xxxThe usage of the support departments’ output (hours of service) for the year is as follows: User of the serviceMaintenanceHRMaintenancexxxxxxHRxxxxxxAssemblyxxxxxxFinishingxxxxxx Henry Roller started and completed Job 33 during the year. The job-order cost sheet indicatedthe following: Materials requisitioned$xxxDirect labour cost$xxxDirect labour hours:Assemblyxxx hoursFinishingxxx hoursMachine hours:Assemblyxxx hoursFinishingxxx hours A total of xxx units were produced on Job 33.‘XXX’ above represents randomly generated number within a relevant range.5Appendix 2In part 2 of Assignment 1, you are to work collaboratively with not mare than 3 others in a group todetermine an ASX listed company for your Assignment 2. Assignment 2 requires identification ofactivity-based costing being implemented in Australian companies (details will be disclosed later). Forexamples, the Independent Hospital Pricing Authority and Australian wine community have usedactivity-based costing in funding and production cost investigations. Byrne et al (2011) has reported onABC success in Australia.Once the Australian company is selected, each of you is going to research on the industry value chain.The research area in Assignment 1 part 2 should include the following two points,1. Provision of a SWOT (Strength, Weakness, Opportunities and Threat) analysis on thecompany’s position with respect to the industry, so that the entity’s core competencies can beidentified. The findings would justify the implementation of a more comprehensive costingsystems (such as ABC) consistent with Australian research findings.2. Provision of the industry-based value chain for the industry the company is operating in andshow potential cost reduction in the value chain analysis.6Appendix 3: Rubric for Assessment 1 RelevantLO/GAsCriterion (related to asingle GA from the relatedLO – one GA per criterionDoes not meetexpectationsMeetsexpectationsExceeds expectationsNN (1.0/4.0)PA (2.0/4.0)CR (2.6/4.0)DI (3.0/4.0)HD (4.0/4.0)LO1/ GA4TL = 4LS = DWeights =5 marksthink criticallyandreflectively – Showingunderstanding of costallocation and the merits ofdifferent methods (20%)Not able to provide animproved method ofcosting.Provide improvedcosting method withor without correctcomputations.Provide improvedmethod of costingshowing correctcalculations.Provide improvedmethod of costingshowing correctcalculation withslight incorrectexplanation.Provide improvedmethod of costingshowing correctcalculation withjustification/explanation.LO1/ GA5TL = 2LS = IWeights =5 marksdemonstrate values,knowledge, skills andattitudes appropriate to thediscipline and /orprofession – Showingunderstanding of therequirements (20%)Not able to address anyof the two mainrequirements insignificant ways in thisassignment.Provide some/limited insight of thetechnicality of costallocation and role ofstrategicmanagement in anAustralian company.Provide good insight(with slightinaccuracies) of thetechnicality of costallocation and role ofstrategicmanagement in anAustralian company.Provide correctdepiction of thetechnicality of costallocation and role ofstrategicmanagement in anAustralian company.Provide excellentdepiction of the roleof strategicmanagement in anAustralian companyand show perfectunderstanding ofcost allocation.LO1/ GA7TL = 4LS = IWeights =5 markswork both autonomously andcollaboratively – Showingindependent researchcapabilities as well asworking collaboratively withothers (20%)Fails to be in a group ornot able to demonstrateunderstanding of theselected organizationand its industry.Provide evidence ofworking with othersand demonstratereasonableunderstanding of theindustry thecompany is in.Demonstrate someunderstanding of theindustry thecompany isoperating in.Provide goodevidence of researchefforts anddemonstrate goodunderstanding of theindustry thecompany isoperating in.Provide excellentanalytical skills inpresenting in-depthreport of theindustry thecompany isoperating in.LO1/ GA8TL = 6LS = AWeights =10 markslocate, organise, analyse,synthesize and evaluateinformation (40%)Fails to providereasonable costallocation steps incomputationsProvide reasonablecost allocation stepsand able to derive theunit costsProvide reasonablecost allocation stepsand able to derive theunit costs with someinaccuracies.Provide correct costallocation steps andable to derive the unitcosts with slightinaccuracies.Provide correct costallocation steps andable to derive theunit costs correctly.
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