In need help with my accounting assignment, as i am not good at accounting no matter how hard i try.
I have attached the assignment. I need the Question 1 & Question 3 done.
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APC 309 Individual assignment General Information Weighting – 100% of the marks for this module This is an individual assignment limited to 3,000 words (+or- 10%), excluding the reference list, bibliography and any appendices. The word count MUST be shown on the front cover of the assignment. Note: see quality Handbook Ref AQH-F15 Guidance for students on the penalty for exceeding the limit for assessed work. All of the learning outcomes for the module are being assessed in this assignment. The learning outcomes are shown in the section entitled “Marking Guide”, which is further on in this document. The University’s policy on cheating collusion and plagiarism will be applied to this piece of work. The assignment has three questions. Only two of the three questions should be answered each question carries the same maximum mark. A printed copy of your assignment, together with a summary Turnitin report (via canvas), should be submitted to the Assignment Submission desk in the Library by 2 p.m. on TBA July 2020. THE FRONT COVER OF YOUR ASSIGNMENT MUST SHOW: 1) YOUR NAME; 2) YOUR STUDENT REGISTRATION NUMBER; 3) THE WORD COUNT (excluding the reference list and bibliography and any appendices) The assignment has three questions only two should be answered. Each question carries the same maximum mark. Assignment Requirements You are required to answer two of the following three questions, each question is worth 50% of the marks: Question 1 ABS Ltd operates a standard marginal cost accounting system. Information relating to product X, which is made in one of the company departments, is given below: Standard marginal Product cost Product X Unit (£) . Direct material 6 kilograms at £4 per kg 24 Direct labour 1 hour at £12 per hour 12 Variable production overhead * 3 39 * Variable production overhead varies with units produced Budgeted fixed production overhead, per month: £106,000. Budgeted production for product X: 20 000 units per month. Actual production and costs for month 6 were as follows: Units of X produced 18 550 ________ (£) Direct materials purchased and used: 113 500kg 442 650 Direct labour: 17 800 hours 223 000 Variable production overhead incurred 58 000 Fixed production overhead incurred 102 000 825 650 You are required to: a) Prepare a columnar statement showing, by element of cost the: (i) original budget; (ii) flexed budget; (iii) actual; (iv) total variances; 15 marks. b) (ii) Subdivide the variances for direct materials and direct labour shown in your answer to a) (i)to(iv) above to be more informative for managerial purposes. 15 marks. c) Critically identify the possible causes of the labour and material variances calculated in the above. 20 marks, Total 50 marks Question 2 Critically evaluate the financial and non-financial (qualitative) issues that may arise when an organisation is considering the following decision making situations: a) Special selling price decisions (involving one-time only orders) 25 marks b) Product mix decisions when capacity constraints exist (limiting factors) 25 marks, Total 50 marks Question 3 a) Critically evaluate the purposes of an efficient budgeting system, highlighting the problems that may arise in the design and implementation of such a system. 20 marks. b) Consider the alternative approaches to an efficient budgeting system that could be formulated and designed to serve organisations that operate in a stable static environment in contrast to those that work within a dynamic innovative environment. 30 marks, Total 50 marks The report should include critical evaluation of the models and concepts proposed outlining their merits and limitations. You may incorporate logical assumptions with regard to the company and use numerical examples to illustrate the models and concepts that you propose to adopt The University policy on cheating collusion and plagiarism will be applied to this piece of work. Guidance: Students are encouraged to be inquisitive and innovative in their approach as to what should be included in this report the following may be of some use in providing guidance as to what could possibly be included, although this is in no way meant to be prescriptive. The aim of the assignment is to help you understand how key areas of strategic management accounting are demonstrated in practice by large, international companies. This will include investigating topics from throughout the course linked to the above issues. Some of the principles, concepts ad models will be more relevant to your chosen approach than others and so it is likely that different students will formulate different approaches to the problems. This is normal, it is not expected that all of the course content will be used in the analysis, concentrate on that which you feel is most important. As part of your work you might find it helpful to briefly explore the underlying theory behind the key areas of investigation that you identify before applying them to report. With a total of 3,000 words you do not have a lot of room for long introductions so assume you are writing to a sophisticated audience who has a working knowledge of strategic management accounting and is well versed in business theory. Numerical examples for illustrative purposes may be of use but should not be the main thrust of the work. If used they should be to provide evidence to support your findings from your other analysis of position and policies. If other sources are used remember to reference everything! Please avoid relying too heavily on descriptive sections reproducing information available from course material or the set text. It is your own logical, evaluation of the situation, the interpretation of course material and presentation, with critical analysis, of a coherent strategic plan that will attract high marks. Marking Guide The learning outcomes for this module assessed by this piece of work are: Knowledge 1. A Critical understanding of a range of key strategic management accounting models and concepts. 2. A Critical understanding of the strategic role of management accounting at local and international level 3. A Critical understanding of the merits and limitations of management accounting theory. Skills 4. How to apply the key management accounting concepts and methodologies in order to contribute to successful decision making in an organisation. In light of this the assessment criteria in the grid below will be used when assessing your work. APC 309 Assignment Generic Assessment Criteria Generic Assessment Criteria – Undergraduate Bachelor’s degree Categories Grade Relevance Knowledge Analysis Argument and Structure Critical Evaluation Presentation Reference to Literature 86 – The work examined is exemplary and provides clear evidence of a complete grasp of the knowledge, understanding and skills appropriate to the Level of the qualification. There is also unequivocal evidence showing that all the learning outcomes and responsibilities appropriate to that Level are fully satisfied. At this level it is expected that the work will be exemplary in all the categories cited above. It will demonstrate a particularly compelling evaluation, originality, and elegance of argument, interpretation or discourse. 100% 76-85% The work examined is excellent and demonstrates comprehensive knowledge, understanding and skills appropriate to the Level of the qualification. There is also excellent evidence showing that all the learning outcomes and responsibilities appropriate to that level are fully satisfied. At this level it is expected that the work will be excellent in the majority of the categories cited above or by demonstrating particularly compelling evaluation and elegance of argument, interpretation or discourse and there may be some evidence of originality The work examined is of a high standard and there is evidence of comprehensive knowledge, understanding and skills appropriate to the Level of the qualification. There is also clearly articulated t evidence demonstrating that all the learning outcomes and responsibilities appropriate to that level are satisfied At this level it is expected that the standard of the work will be high in the majority of the categories cited above or by demonstrating particularly compelling evaluation and elegance of argument, interpretation or discourse. 70 – 75% 60 – 69% Directly relevant to the requirements of the assessment A substantial knowledge of relevant material, showing a clear grasp of themes, questions and issues therein Good analysis, clear and orderly Generally coherent and logically structured, using an appropriate mode of argument and/or theoretical mode(s) May contain some distinctive or independent thinking; may begin to formulate an independent position in relation to theory and/or ti Well written, with standard spelling and grammar, in a readable style with acceptable format Critical appraisal of up-to-date and/or appropriate literature. Recognition of different perspectives. Very good use of source material. Uses a range of Pa ss Some attempt to Adequate knowledge of a fair range of relevant material, with intermittent evidence of an appreciation of its significance Some analytical Some attempt to construct Sound work which Competently Uses a variety of literature which includes some recent texts and/or appropriate literature, though not necessarily including a substantive amount beyond library texts. Competent use of source material. 50 – 59% address the treatment, but a coherent argument, but expresses a coherent written, with only requirements of may be prone to may suffer loss of focus position only in broad minor lapses from the assessment: may drift away description, or to narrative, which and consistency, with issues at stake stated only terms and in uncritical conformity to one or standard grammar, with acceptable from this in less lacks clear vaguely, or theoretical more standard views format focused passages analytical purpose mode(s) couched in simplistic terms of the topic 40 – 49% Some correlation with the requirements of the assessment but there are instances of irrelevance Basic understanding of the subject but addressing a limited range of material Largely descriptive or narrative, with little evidence of analysis A basic argument is evident, but mainly supported by assertion and there may be a lack of clarity and coherence Some evidence of a view starting to be formed but mainly derivative. A simple basic style but with significant deficiencies in expression or format that may pose obstacles for the reader Some up-to-date and/or appropriate literature used. Goes beyond the material tutor has provided. Limited use of sources to support a point. Fa il 35 – 39% Relevance to the A limited Heavy Little evidence of coherent Almost wholly Numerous Barely adequate use of literature. Over reliance on material provided by the tutor. requirements of understanding of a dependence on argument: lacks derivative: the writer’s deficiencies in the assessment may be very narrow range of material description, and/or on development and may be repetitive or thin contribution rarely goes beyond expression and presentation; the intermittent, and may be reduced to its vaguest and least challenging terms paraphrase, is common simplifying paraphrase writer may achieve clarity (if at all) only by using a simplistic or repetitious style The evidence provided shows that the majority of the learning outcomes and responsibilities appropriate to that Level are satisfied – for compensation consideration. 30 – 34% The work examined provides insufficient evidence of the knowledge, understanding and skills appropriate to the Level of the qualification. The evidence provided shows that some of the learning outcomes and responsibilities appropriate to that Level are satisfied. The work will be weak in some of the indicators. 15-29% The work examined is unacceptable and provides little evidence of the knowledge, understanding and skills appropriate to the Level of the qualification. The evidence shows that few of the learning outcomes and responsibilities appropriate to that Level are satisfied. The work will be weak in several of the indicators. 0-14% The work examined is unacceptable and provides almost no evidence of the knowledge, understanding and skills appropriate to the Level of the qualification. The evidence fails to show that any of the learning outcomes and responsibilities appropriate to that Level are satisfied. The work will be weak in the majority or all of the indicators. Skills
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