HI5017 Managerial Accounting:Various Approaches to Performance Measurement

$20 Bonus + 25% OFF

$20 Bonus + 25% OFF

Securing Higher Grades Costing Your Pocket?
Book Your Assignment at The Lowest Price
Now!

Students Who Viewed This Also Studied

HI5017 Managerial Accounting

Question:

Various Approaches to Performance Measurement

Purpose

This assignment is designed to assess your level of knowledge of the key topics covered in this unit

Learning Outcomes Assessed:

1. Synthesize and critically analyse information from various sources and provide recommendations to improve the operations of organisations through the application of management accounting techniques;

2. Critically evaluate the various approaches to performance measurement and control in various types of organisations, and devise and evaluate indicators of performance.

3. Demonstrate the need for a balance between financial and non-financial information in decision making, control and performance evaluation applications of management accounting.

4. Analyse a company’s financial statements and/or management reports and identify the strengths and weaknesses of the company and articulate these to the various stakeholders. Description: Each week students were provided with three tutorial questions of varying degrees of difficulty. These tutorial questions are available in the Tutorial Folder for each week on Blackboard.

The Interactive Tutorials are designed to assist students with the process, skills and knowledge to answer the provided tutorial questions. Your task is to answer a selection of tutorial questions and submit these answers in a single document.

The Questions to be answered are:

Question 1

Ola Ltd, which uses a job costing system, had two jobs in process at the start of the year: Job L1 ($68,000) and Job L2 ($30 000). The following information is available:

i) The company applies manufacturing overhead on the basis of machine hours. Budgeted overhead and machine activity for the year were anticipated to be $1,000,000 and 25,000 hours, respectively.

ii) The company worked on three jobs during the first quarter (i.e. from 1 January to 31 March). Direct materials used, direct labour incurred and machine hours consumed were as shown in the following table: Job numbers Direct material Direct labour Machine hours L1 $15,000 $30,000 900 L2 – 33,000 1,600 L3 45,000 65,000 2,000

iii) Manufacturing overhead incurred during the first quarter was $215,000.

iv) Ola Ltd completed Job L1 and Job L2 during the first quarter. Job L2 was sold on credit, producing a profit of $30,000 for the company.

Required:

a) Calculate the company’s predetermined overhead rate.

b) Calculate manufacturing overhead applied to production for the first quarter. 

c) Determine the cost of jobs completed in the first quarter. 

d) Determine the cost of the jobs still in process at the end of the first quarter. 

Question 2

Dream Limited manufactures ice cream. The company employs a process costing system for its manufacturing operations. All direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. The company’s production quantity schedule for January is as follow: Unit (tubs) Work in process on 1 January (55% complete as to conversion) 8,000 Units started during January 11,000 Total units to account for 19,000 Units from beginning work in process, which were completed and transferred out during January 8,000 Unit started and completed in January 6,000 Work in process on 31 January (35% complete as to conversion) 5,000 Total units to account for 19,000

Required:

a) Calculate each of the following amounts:

i. Equivalent units of direct material during January. Use the FIFO method.

ii. Equivalent units of conversion during January. Use the FIFO method. 

iii. Equivalent units of direct material during January. Use the weighted average method.

iv. Equivalent units of conversion during January. Use the weighted average method. 

b) Explain the major difference between weighted average and FIFO method in process costing systems.

Question 3

Wattle Limited has two divisions: Industry and Consumer. The Industry Division transfers partially completed components to the Consumer Division at a predetermined transfer price. The Industry Division’s standard variable production cost per unit is $500. This division could sell all its components to outside buyers at $650 per unit in a perfectly competitive market. The Consumer Division has a special offer of $740 for its product. The Consumer Division incurs variable costs of $260 in addition to the transfer price for the Industry Division’s components. Both Industry and Consumer divisions currently have spare production capacity.

Required:

a) Determine a transfer price using the general transfer pricing rule.

b) Assume that the transfer price has been set at $530, is the Consumer Division manager likely to want to accept or reject the special offer? Why?

c) Is the decision in the best interests of Wattle Limited as a whole? Explain. 

Question 4

You are the chief financial analyst of Hercules Manufacturing Limited. The company manufactures bowls and has been planning to aggressively expand its sales into the Middle Eastern markets. You have been tasked to analyse its reports using CVP and provide explanations to the Director, Tierra Muller. The operating statement relating to the month ended September 30, 2019 of Hercules Manufacturing

Limited is as follows: $’000 $’000 Sales (22,000 units) 3,300 Direct materials 726 Direct labour 374 Production overheads 798 Total 1,898 Gross profit 1,402 Selling overheads 1,042 Net profit 360 The variable production overheads were $9 per unit while the variable selling overheads were $11 per unit.

HI5017 Managerial Accounting

Answer in Detail


Solved by qualified expert

Get Access to This Answer

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Hac habitasse platea dictumst vestibulum rhoncus est pellentesque. Amet dictum sit amet justo donec enim diam vulputate ut. Neque convallis a cras semper auctor neque vitae. Elit at imperdiet dui accumsan. Nisl condimentum id venenatis a condimentum vitae sapien pellentesque. Imperdiet massa tincidunt nunc pulvinar sapien et ligula. Malesuada fames ac turpis egestas maecenas pharetra convallis posuere. Et ultrices neque ornare aenean euismod. Suscipit tellus mauris a diam maecenas sed enim. Potenti nullam ac tortor vitae purus faucibus ornare. Morbi tristique senectus et netus et malesuada. Morbi tristique senectus et netus et malesuada. Tellus pellentesque eu tincidunt tortor aliquam. Sit amet purus gravida quis blandit. Nec feugiat in fermentum posuere urna. Vel orci porta non pulvinar neque laoreet suspendisse interdum. Ultricies tristique nulla aliquet enim tortor at auctor urna. Orci sagittis eu volutpat odio facilisis mauris sit amet.

Tellus molestie nunc non blandit massa enim nec dui. Tellus molestie nunc non blandit massa enim nec dui. Ac tortor vitae purus faucibus ornare suspendisse sed nisi. Pharetra et ultrices neque ornare aenean euismod. Pretium viverra suspendisse potenti nullam ac tortor vitae. Morbi quis commodo odio aenean sed. At consectetur lorem donec massa sapien faucibus et. Nisi quis eleifend quam adipiscing vitae proin sagittis nisl rhoncus. Duis at tellus at urna condimentum mattis pellentesque. Vivamus at augue eget arcu dictum varius duis at. Justo donec enim diam vulputate ut. Blandit libero volutpat sed cras ornare arcu. Ac felis donec et odio pellentesque diam volutpat commodo. Convallis a cras semper auctor neque. Tempus iaculis urna id volutpat lacus. Tortor consequat id porta nibh.

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Hac habitasse platea dictumst vestibulum rhoncus est pellentesque. Amet dictum sit amet justo donec enim diam vulputate ut. Neque convallis a cras semper auctor neque vitae. Elit at imperdiet dui accumsan. Nisl condimentum id venenatis a condimentum vitae sapien pellentesque. Imperdiet massa tincidunt nunc pulvinar sapien et ligula. Malesuada fames ac turpis egestas maecenas pharetra convallis posuere. Et ultrices neque ornare aenean euismod. Suscipit tellus mauris a diam maecenas sed enim. Potenti nullam ac tortor vitae purus faucibus ornare. Morbi tristique senectus et netus et malesuada. Morbi tristique senectus et netus et malesuada. Tellus pellentesque eu tincidunt tortor aliquam. Sit amet purus gravida quis blandit. Nec feugiat in fermentum posuere urna. Vel orci porta non pulvinar neque laoreet suspendisse interdum. Ultricies tristique nulla aliquet enim tortor at auctor urna. Orci sagittis eu volutpat odio facilisis mauris sit amet.

Tellus molestie nunc non blandit massa enim nec dui. Tellus molestie nunc non blandit massa enim nec dui. Ac tortor vitae purus faucibus ornare suspendisse sed nisi. Pharetra et ultrices neque ornare aenean euismod. Pretium viverra suspendisse potenti nullam ac tortor vitae. Morbi quis commodo odio aenean sed. At consectetur lorem donec massa sapien faucibus et. Nisi quis eleifend quam adipiscing vitae proin sagittis nisl rhoncus. Duis at tellus at urna condimentum mattis pellentesque. Vivamus at augue eget arcu dictum varius duis at. Justo donec enim diam vulputate ut. Blandit libero volutpat sed cras ornare arcu. Ac felis donec et odio pellentesque diam volutpat commodo. Convallis a cras semper auctor neque. Tempus iaculis urna id volutpat lacus. Tortor consequat id porta nibh.

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Hac habitasse platea dictumst vestibulum rhoncus est pellentesque. Amet dictum sit amet justo donec enim diam vulputate ut. Neque convallis a cras semper auctor neque vitae. Elit at imperdiet dui accumsan. Nisl condimentum id venenatis a condimentum vitae sapien pellentesque. Imperdiet massa tincidunt nunc pulvinar sapien et ligula. Malesuada fames ac turpis egestas maecenas pharetra convallis posuere. Et ultrices neque ornare aenean euismod. Suscipit tellus mauris a diam maecenas sed enim. Potenti nullam ac tortor vitae purus faucibus ornare. Morbi tristique senectus et netus et malesuada. Morbi tristique senectus et netus et malesuada. Tellus pellentesque eu tincidunt tortor aliquam. Sit amet purus gravida quis blandit. Nec feugiat in fermentum posuere urna. Vel orci porta non pulvinar neque laoreet suspendisse interdum. Ultricies tristique nulla aliquet enim tortor at auctor urna. Orci sagittis eu volutpat odio facilisis mauris sit amet.

Tellus molestie nunc non blandit massa enim nec dui. Tellus molestie nunc non blandit massa enim nec dui. Ac tortor vitae purus faucibus ornare suspendisse sed nisi. Pharetra et ultrices neque ornare aenean euismod. Pretium viverra suspendisse potenti nullam ac tortor vitae. Morbi quis commodo odio aenean sed. At consectetur lorem donec massa sapien faucibus et. Nisi quis eleifend quam adipiscing vitae proin sagittis nisl rhoncus. Duis at tellus at urna condimentum mattis pellentesque. Vivamus at augue eget arcu dictum varius duis at. Justo donec enim diam vulputate ut. Blandit libero volutpat sed cras ornare arcu. Ac felis donec et odio pellentesque diam volutpat commodo. Convallis a cras semper auctor neque. Tempus iaculis urna id volutpat lacus. Tortor consequat id porta nibh.

27 More Pages to Come in This Document. Get access to the complete answer.

MyAssignmenthelp.com is a reliable college essay writing service provider that students can trust to overcome their academic problems. With a team of most efficient and hardworking assignment writers, we are capable of providing fast essay writing services in more than 100 subjects. Students, who decide to take urgent essay help from us, are guaranteed to receive completed essay assignments within any short time limit. Some of our popular essay help services include application essay help, argumentative essay paper help, literature essay assistance, etc.

More HI5017 HI5017 Managerial Accounting: Questions & Answers

Business Management

Question 1 – 10 marks (1,000 words) Jimmy is the chief accountant at clothing retailer King Ltd and has been in this role for around 10 years. King has a June 30 year end and Jimmy is finalising the year end accounts.In finalising the inventory valuation Jimmy has a discussion with the warehouse man …

View Answer

Management

This is the assignment of managerial accounting. In this need to explain the company named AXFOOD- Sweden. This is to be explain PWC value framework with 17 elements the business model of this company and have to explain like governance risk and snapshot of the each business model with the explanati …

View Answer

Business Report

Case Study 1
Disk4U
Disk4U is a Sydney based company which sells CDs and Vinyl Records. They are a small family-owned
business with four outlets spread around the Sydney metropolis.
Currently, their main business is selling to customers via their physical shop front, via mail and
phone orders a …

View Answer

Business Management

Your task is to compare and contrast the historical (for the last 2 years – 2014 and 2015) and expected future performance of AGL Energy Limited (a listed company) and Genesis Energy Limited (a listed company) a competitor in the same industry, and present your findings in the form of an executive r …

View Answer

Content Removal Request

If you are the original writer of this content and no longer wish to have your work published on Myassignmenthelp.com then please raise the
content removal request.

Choose Our Best Expert to Help You

  • slider

  • slider

Still in Two Minds? The Proof is in Numbers!

33845 Genuine Reviews With a Rating of 4.9/5.

Economics

Course Work: 4 Pages, Deadline:
6 days

Thank you for the constant support and understanding and work towards my project

flag User ID: 8***56 Canada

English

Essay: 8 Pages, Deadline:
10 days

the expert who worked on this assignment did a great job of following all the instruction I provided for this assignment and delivered it perfectly. G …

flag User ID: 3***04 Melbourne, Bahrain

Finance

Programming: 2 Pages, Deadline:
23 hours

Good not bad. But if the solution with more analysis and explanation will be great

flag User ID: 8***49 Melbourne, Saudi Arabia

Management

Assignment: 6 Pages, Deadline:
5 days

Perfect work was delivered by the expert, I have been using my assignment help for quite some time now and it has been very helpful in providing excel …

flag User ID: 8***14 Mississauga, Canada

Chemistry

Assignment: 1 Page, Deadline:
5 days

Assignment was completed as requested! Was very organized and neat. Included all the parts!

flag User ID: 2***50 Kitchener, Canada

Psychology

Assignment: 4 Pages, Deadline:
1 day

It was a good one thank you. I did have to correct some of the mistakes. After that, everything was good.

flag User ID: 6***66 Kitchener, United States

Statistics

Programming: 2.6 Pages, Deadline:
7 days

Fully trust this service with perfect score. Would recommend to friends and family. Keep up the good work. Will definitely use the service.

flag User ID: 6***65 Hughesdale, Australia

Management

Essay: 6 Pages, Deadline:
2 days

Perfect score. Great results and the marks was as expected. I trust this service fully with all my assessments.

flag User ID: 6***65 Hughesdale, Australia

Criminal Law

Thesis: 8 Pages, Deadline:
4 days

Great results and the marks was as expected. I trust this service fully with all my assessments.

flag User ID: 6***65 Hughesdale, Australia

Nursing

Home Work: 1 Page, Deadline:
12 hours

Satisfied with the assignment solution. All is correct, no amendment needed.Thanks

flag User ID: 6***60 Hughesdale, United States

Geography

Course Work: 5 Pages, Deadline:
6 days

Fast and prompt assignment writing services. The writer was knowledgeable in the particular subject/topics. Will engage them again for future assignme …

flag User ID: 5***78 Hughesdale, Singapore

Finance

Assignment: 1 Page, Deadline:
1 day

I manage to add some good point from this presentation to my assignment so thank you so much for your help I’m awaiting marks at the moment

flag User ID: 2***49 Hughesdale, New Zealand

HRM

Home Work: 1 Page, Deadline:
6 days

It was good work overall and I love it I will as I said always recommended people if you need help t contact them keep up the good work

flag User ID: 7***37 Hughesdale, United States

It Write Up

Programming: 4 Pages, Deadline:
4 days

Content is related to my view point and all points are well explained with the help of examples

flag User ID: 8***83 Hughesdale, Canada

Civil Law

Essay: 2 Pages, Deadline:
18 hours

Quality work and on time. Great site when you are crunched for time. I will use it in the future.

flag User ID: 8***55 Hughesdale, United States

Networking

Case Study: 8 Pages, Deadline:
4 days

Very pleased with the time of delivery as it was delivered two days before time and also the contents of the file looked really good.

flag User ID: 5***59 Hughesdale, Australia

HRM

Assignment: 2.6 Pages, Deadline:
3 days

The final draft collaborated with the expert and I was fairly good. I still needed to reword and switch around some stuff, but the paper structure was …

flag User ID: 7***07 Hughesdale, United States

Finance

Home Work: 1 Page, Deadline:
13 hours

thank you for fixing my answers and doing it under the 6pm time requested. Deadline was met.

flag User ID: 8***88 Hughesdale, Australia

Assignment

Assignment: 8 Pages, Deadline:
12 days

Decent prices, live chat is a life saving and I have received my essay on time.Bonus, the last one had a very small similarity. I would never change i …

flag User ID: 5***94 Nuneaton, Great Britain

Maths

Home Work: 1 Page, Deadline:
5 days

I just want to thank the person who worked on this assignment, and let them know that I appreciate the care and detail they did on this assignment. I …

flag User ID: 4***77 Nuneaton, United States

Economics

Course Work: 4 Pages, Deadline:
6 days

Thank you for the constant support and understanding and work towards my project

flag User ID: 8***56 Canada

English

Essay: 8 Pages, Deadline:
10 days

the expert who worked on this assignment did a great job of following all the instruction I provided for this assignment and delivered it perfectly. G …

flag User ID: 3***04 Melbourne, Bahrain

Finance

Programming: 2 Pages, Deadline:
23 hours

Good not bad. But if the solution with more analysis and explanation will be great

flag User ID: 8***49 Melbourne, Saudi Arabia

Management

Assignment: 6 Pages, Deadline:
5 days

Perfect work was delivered by the expert, I have been using my assignment help for quite some time now and it has been very helpful in providing excel …

flag User ID: 8***14 Mississauga, Canada

Chemistry

Assignment: 1 Page, Deadline:
5 days

Assignment was completed as requested! Was very organized and neat. Included all the parts!

flag User ID: 2***50 Kitchener, Canada

Psychology

Assignment: 4 Pages, Deadline:
1 day

It was a good one thank you. I did have to correct some of the mistakes. After that, everything was good.

flag User ID: 6***66 Kitchener, United States

Statistics

Programming: 2.6 Pages, Deadline:
7 days

Fully trust this service with perfect score. Would recommend to friends and family. Keep up the good work. Will definitely use the service.

flag User ID: 6***65 Hughesdale, Australia

Management

Essay: 6 Pages, Deadline:
2 days

Perfect score. Great results and the marks was as expected. I trust this service fully with all my assessments.

flag User ID: 6***65 Hughesdale, Australia

Criminal Law

Thesis: 8 Pages, Deadline:
4 days

Great results and the marks was as expected. I trust this service fully with all my assessments.

flag User ID: 6***65 Hughesdale, Australia

Nursing

Home Work: 1 Page, Deadline:
12 hours

Satisfied with the assignment solution. All is correct, no amendment needed.Thanks

flag User ID: 6***60 Hughesdale, United States

Geography

Course Work: 5 Pages, Deadline:
6 days

Fast and prompt assignment writing services. The writer was knowledgeable in the particular subject/topics. Will engage them again for future assignme …

flag User ID: 5***78 Hughesdale, Singapore

Finance

Assignment: 1 Page, Deadline:
1 day

I manage to add some good point from this presentation to my assignment so thank you so much for your help I’m awaiting marks at the moment

flag User ID: 2***49 Hughesdale, New Zealand

HRM

Home Work: 1 Page, Deadline:
6 days

It was good work overall and I love it I will as I said always recommended people if you need help t contact them keep up the good work

flag User ID: 7***37 Hughesdale, United States

It Write Up

Programming: 4 Pages, Deadline:
4 days

Content is related to my view point and all points are well explained with the help of examples

flag User ID: 8***83 Hughesdale, Canada

Civil Law

Essay: 2 Pages, Deadline:
18 hours

Quality work and on time. Great site when you are crunched for time. I will use it in the future.

flag User ID: 8***55 Hughesdale, United States

Networking

Case Study: 8 Pages, Deadline:
4 days

Very pleased with the time of delivery as it was delivered two days before time and also the contents of the file looked really good.

flag User ID: 5***59 Hughesdale, Australia

HRM

Assignment: 2.6 Pages, Deadline:
3 days

The final draft collaborated with the expert and I was fairly good. I still needed to reword and switch around some stuff, but the paper structure was …

flag User ID: 7***07 Hughesdale, United States

Finance

Home Work: 1 Page, Deadline:
13 hours

thank you for fixing my answers and doing it under the 6pm time requested. Deadline was met.

flag User ID: 8***88 Hughesdale, Australia

Assignment

Assignment: 8 Pages, Deadline:
12 days

Decent prices, live chat is a life saving and I have received my essay on time.Bonus, the last one had a very small similarity. I would never change i …

flag User ID: 5***94 Nuneaton, Great Britain

Maths

Home Work: 1 Page, Deadline:
5 days

I just want to thank the person who worked on this assignment, and let them know that I appreciate the care and detail they did on this assignment. I …

flag User ID: 4***77 Nuneaton, United States

callback request mobile

Have any Query?

QUALITY: 100% ORIGINAL PAPER – NO PLAGIARISM – CUSTOM PAPER

Leave a Reply

Your email address will not be published.