ALTERNATIVE ASSESSMENT

Regulations

A. Late Submission

• A 10% deduction per day of total coursework marks (excluding weekends and public holidays).
• Late submission between 5 to 10 days, results in a 50% deduction of total coursework marks.
• Late submission past 10 days results in an automatic 0% for coursework and the student will be barred from the final examination.

B. Deliverables

Students must submit all materials supporting their coursework listed in the deliverable section.

• The coursework must be done individually and must be entirely your own work. Please make sure that you are aware of the rules concerning plagiarism. If you are unclear about them, please consult your program coordinator/lecturer.

• content, proper citations, references, and appendixes.
• The coursework write up must be able to demonstrate critical analysis and application of both theory and practical issues to the company that you have selected.
• Student may include additional relevant data/information apart from the proposed guidelines in conjunction to your research. Additional marks will be awarded for such attempt.
• Your word count should not be more than 500 words for each theory question.
• Your answer must be submitted through Blackboard

Learning Outcomes tested

Assessment Criteria  : Students must demonstrate the ability to:

LO1: Evaluate the theories and concepts of management accounting techniques to support the management processes of planning, control and decision making.LO2: Apply and analyse important performance indicators and their measurement for internal control, decision making and planning for the future. LO3: Evaluate and appraise the budgetary process undertaken in a typical business organisation.LO4: Critically interpret and effectively communicate relevant management accounting techniques and concepts in a given situation using a range of methodsLO5: Identify and critically evaluate the contributions which management accounting makes to organizational control by applying computational techniques in a given situation

To evaluate motivational consideration that should be made in the setting up of a budgetary planning and control system.     To evaluate the application of responsibility accounting in the context of the given.       To evaluate the importance of relevant cost in in capital budgeting.             To evaluate the importance of setting standards in management accounting.

 QUESTION

Question 1

Beacon Chemicals plc is considering buying some equipment to produce a chemical named X14. The new equipment’s capital cost is estimated at RM100,000 and if its purchase is approved now, the equipment can be bought and commence production by the end of this year. RM50,000 has already been spent on research and development work. Estimates of revenues and costs arising from the operation of the equipment as follows:

	Year 1	Year 2	Year 3	Year 4	Year 5
Selling price  (RM per unit)	100	120	120	100	80
Sales volume (units)	800	1000	1200	1000	800
Variable costs (RM per unit)	50	50	40	30	40
Fixed costs (RM000)	30	30	30	30	30

If the equipment is bought, sales of some existing products will be lost and this will result in a loss of contribution of RM15 000 a year over its life.

The accountant has informed you that the fixed costs include depreciation of RM20, 000 a year on the new equipment. They also include an allocation of RM10,000 for fixed overheads. A separate study has indicated that if the new equipment were bought additional overheads excluding depreciation arising from producing the chemical would be RM8,000 a year. Production would require additional working capital of RM30,000. Ignore taxations. Beacon Chemicals plc has an average cost of capital of 8% in money terms.

Required:

1. Calculate the payback period, net present value, and accounting rate of return of the planned investment project.                                                    (20 marks)
2. Critically evaluate the importance of relevant cost in capital budgeting.

                                                                                                           (10 marks)

                                                                                               (Total : 30 marks)

Question 2

Pikachu Corp. produces and sells one type of metal casting. For the month ended 31 January 2020 the following information had been established:

Production and sales                                       1,100 castings

Revenue                                                          RM70,950

Material used                                                  33,600 kg at a total cost of RM20,832

Labour hours worked                                      1,820 hours at a total cost of RM14,742

Variable production overhead incurred          RM10,500

Fixed production overhead incurred              RM15,500

The following standard and budgeted information is also available:

Standard material cost per casting                  30 kg at a standard price of RM0.60 per kg

Standard labour hour per casting                    1.75 hours at a standard rate of RM8.00 per hour

Variable production overhead                        RM6.00 per hour

Fixed production overhead                             RM9.00 per hour

Budgeted fixed production overhead            RM189,000 per year

Budgeted production and sales                      1,000 castings per month

Budgeted unit selling price                             RM64

Required:

1. Calculate ALL variances and prepare and operating statement for the month ending 31 January 2020                                                                     

(20 marks)

• Critically evaluate the importance of setting standards in management accounting.                                                                                         (10 marks)

                                                                                               (Total : 30 marks)

Question 3

Many organizations have successfully implemented budgetary systems in the planning and control of their day-to-day operations. Some organizations have implemented budgetary systems with proper consideration of motivational issues which have enabled the work force to be more productive.

Required

Evaluate the motivational considerations that should be made in the setting up of

a budgetary planning and control system.                                .             (20 marks)                                                                                              

Question 4

A Japanese owned company in Malaysia, manufactures a range of products by passing materials through a number of processes. A number of service departments provide support to the production processes.                 

Required :

In relation to the above statement, evaluate the application of responsibility accounting in the context of the above situation.                                 ( 20 marks)

Word limit is 500 words for each theory question.

(Total =100 marks)

Please refer to the marks allotment sheet

Note:

Refer Appendix 1 for the marks allocation.

The total marks for this assignment is 50% of overall assessment for this module.

* The detailed marking criteria’s for the allocation of xx marks is provided in Appendix 1

LENGTH REQUIRED

500 words +/- 10% for each theory question.  Any deviation from this will be penalized. The answer must be written in an academic style with full references using the APA referencing method for citation and list of reference.

FORMATTING AND LAYOUT

• A Microsoft Office Word Document or other relevant applications as permitted by module lecturer/ typed using computer. Usage of typewriter or hand – written is STRICTLY not allowed.
• 12 font size, Time New Roman font and bold title and sub titles
• A4 sized paper
• Fully justified alignment
• 1½ line spacing
• Margins of 1” at top and bottom; left and right

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