Solved Assignments

ACCT603 Management Accounting – Christchurch Packaging and Just Jeans

Question 1 Christchurch Packaging Corporation uses a job-order costing system with a plantwide overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates:     Machine-hours required to support estimated production 154,000   Fixed manufacturing overhead cost $659,000   Variable manufacturing overhead cost per machine-hour $4.50   Required (show your calculations):   a. Compute the predetermined overhead rate. b. During the year, Job 546 was started and completed. The following information was available with respect to this job:     Direct materials requisitioned $370   Direct labour cost $250   Machine-hours used 34   Compute the total manufacturing cost assigned to Job 546.   c. During the year, the company worked a total of 145,700 machine-hours on all jobs and…

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ACCG8121 Excel S1 2020 – Bikes 2000 Ltd produce two high end bicycle

Scenario Bikes 2000 Ltd produce two high end bicycle products. They need you to create a spreadsheet that can conduct a multi-product Cost Volume Profit Analysis.  You can assume that all products made are sold and that sales price, fixed costs, and the sales mix stay constant. You will need to calculate the labour costs, material costs, fixed costs and variable costs and then work out the break even volume using a weighted contribution margin.  You have also been asked to show a forecast for different unit volumes for a selected product line and produce a break even analysis line chart.  Download the full instructions and a mark breakdown from iLearn.   Start by downloading the assessment workbook from iLearn and…

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ACT502 Management Accounting – Paramel Beverages bottles and John Smith

Question 1 Paramel Beverages bottles two soft drinks under licence to Cadaver Ltd. at its Newcastle plant. Bottling at this plant is highly repetitive, automated process. Empty bottles are removed from their carton, placed on a conveyor, and cleaned, rinsed, dried, filled, capped and heated (to reduce condensation). The only stock held is direct materials or else finished goods. There is no work in process. The two soft drinks bottled by Paramel Beverages are lemonade and diet lemonade. The syrup for both soft drinks is purchase from Cadaver Ltd. Syrup for the regular brand contains a higher sugar content than the syrup for the diet brand. Paramel Beverages uses a lot size of 1,000 cases as the unit of analysis in…

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ACST2001 Financial Modelling – Yolanda

Question 1 Yolanda bought a 180-day $100000 bank bill 74 days ago for $98300.00.She sold it to George today and received $99000.00. Draw a cash flow diagram that captures the details of Yolanda’s transactions. Calculate the purchase yield (simple interest rate) and sale yield (simple interest rate) of this bill (as a percentage, rounded to 2 decimal places). Without any further calculations, explain how the selling price will change if George accepts a lower yield. Calculate capital gain or capital loss component of Yolanda’s investment (in dollars and cents, to the nearest cent). Assuming Yolanda borrowed to purchase the bond, what is the break-even rate of interest of borrowing (simple interest, as a percentage, rounded to 2 decimal places)? If the…

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ACT202 Management Accounting – John Smith and Warsaw Ltd

Q1 John Smith, a college student, plans to sell CD players over the internet & by mail order during the semester to help pay his expenses. He buys the players for $29 & sells them for $50. If payment by cheque accompanies the mail order (estimated to be 40% of sales), he gives 10% discount. If customers include a credit card number for either internet or mail order (estimated 30% of sales), they receive 5% discount. The remaining collections are estimated as follows: One month following 15% Two months following 8% Three months following 5% Uncollectable 2%   Sales forecast are as follows: September 150 units October 250 units November 350 units December 450 units January Business terminated   John plans…

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HA2011 – 2020 – Management Accounting

Question 1 Refer to the following information listed below: Direct material used $150,000 Selling costs $5,000 Indirect labour $7,000 Administrative costs $10,000 Depreciation on factory equipment $70,000 Direct labour $40,000 Overtime premiums paid $20,000 Indirect materials $45,000   Based on the information provided above, calculate the period costs: $15,000 $20,000 $190,000 $372,000   Question 2 Yang Manufacturing makes a product called Yin. The relevant range of operations is between 2,500 units and 10,000 units of Yin per month. Per unit costs at two activity levels are as follows: 5,000 units at $17.00 per unit; 7,500 units at $13.00 per unit. Determine the cost formula that expresses the behaviour of Yang’s total costs.   Question 3 The following information relates to Wells…

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Electro Motors (Electro) is considering a new project to produce electric vehicles

Electro Motors (Electro) is considering a new project to produce electric vehicles for the Australian domestic market and international markets. It has identified a property/plant that was formerly used to build petrol fuelled motor vehicles that could be refitted at minimal cost to manufacture the new electric vehicles. Electro is targeting Australian metropolitan centres for initial sales and expanding into regional centres over the next five years. International demand for electric vehicles is being driven by China and Electro has been in negotiation to provide vehicles to the Chinese market in 2025.   Electro has made the following projections: In the first year 2,000 units will be sold and growing at 10% pa. The price for each unit in the first year…

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HI5001 – 2020 – Accounting for Business Decisions

Question 1 Financial data for Safety Hire as of 30 June 2019 are: Accounts receivable $ 63 000 Wages expense $ 75 000 Equipment hire income 170 000 Advertising expense 30 000 Accounts payable 40 000 Land 75 000 Michael Donato, Capital ? Hire equipment 180 000 Cash at bank 45 000 Loan payable 50 000 Mortgage payable 130 000 Electricity expense 18 000 Building 85 000 Telephone expense 7 500   Required: Prepare an income statement for the month of June and a balance sheet in account format for Safety Hire as at 30 June 2019.   Question 2 On 1 July 2018 Nicole Andreou opened a beauty parlour. The following transactions occurred during the first month of operations (ignore…

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FREE – Evaluate the statement “Accounting is all about numbers.”

Evaluate the statement “Accounting is all about numbers.”. Using the definition of accounting to justify your answer.

ACC5CRE – The statement of comprehensive income of Jonathon Ltd

The statement of comprehensive income of Jonathon Ltd for the year ended 30 June 2020 shows the profit before tax amounted to $240,000, including revenue and expense items.                                                                                             $ Entertainment costs (no-deductible)   7 200 Annual leave expense 12 000 Depreciation expense – Equipment 20 000 Depreciation expense – buildings (non-deductible)   3 200 Rent revenue 12 000 Bad debt expense 24 000 Long service leave expense   6 000   Assets and liabilities as disclosed in the Statement of Financial Position as 30 June 2020.     2020 2019 Assets     Cash 32 000 34 000 Inventories 68 000 62 000 Accounts receivables 200 000 192 000 Allowance for doubtful debts (22, 000) 16 000 Office supplies…

FINM202 – Contact Manufacturing Ltd is considering two alternative investment proposals

Contact Manufacturing Ltd is considering two alternative investment proposals. The first proposal calls for a major renovation of the company’s manufacturing facility. The second involves replacing just a few obsolete pieces of equipment in the facility. The company will choose one project or the other this year, but it will not do both. The cash flows associated with each project appear below and the firm discounts project cash flows at 15%. Year   Renovate   Replace 0 –$9,000,000 –$2,400,000 1 3,000,000 2,000,000 2 3,000,000 800,000 3 3,000,000 200,000 4 3,000,000 200,000 5 3,000,000 200,000   Assignment Calculate the payback period of each project and based on this criterion, indicate which project you would recommend for acceptance. Calculate the net present value…

HI5001 – Elliot Painting Services – Accounting for Business Decisions

Question Worksheet and closing entries The adjusted trial balance columns in the worksheet of Elliot Painting Services are as follows. ELLIOT PAINTING SERVICES Worksheet (Partial) for the year ended 30 June 2019 Account Adjusted trial balance Income statement Balance sheet Debit Credit Debit Credit Debit Credit Cash at Bank                    1,230 Accounts Receivable                 75,600 Prepaid Rent                    1,800 Office Supplies                    8,320 Equipment               160,000 Accumulated Depreciation                 25,000 Accounts Payable                 54,000 Salaries Payable                    8,760 Unearned Revenue                    3,430 F. Elliot, Capital               101,500 F. Elliot, Drawings                 22,000 Painting Revenue               219,650 Salaries Expense               106,000 Rent Expense                    6,050 Depreciation Expense                    8,040 Telephone Expense                    4,020 Office Supplies Used                 10,080 Sundry Expenses                    9,200…