Accounting is nothing but the record-keeping of all the transactions that are going on in a business or company. Accounting may be defined as summarizing, analyzing, and reporting the various details of the transaction going on in the company to a certain department which can take necessary measure for maximum output. It is generally done to have clarity about the whereabouts of the funds in the company.
The importance of accounting can be determined by the fact that no matter how small the business may be, accounting is done in that business. Taking this into consideration numerous colleges are providing a degree in accounting. Also, the number of students opting for the accounting course is increasing in recent times. But students need to understand the very basics of accounting and complete the assignments and projects given to them which are generally hard and complex which makes the student lose their interest in the subject after some time.
These are generally because of the various small mistakes they make during the completion of the assignment which results in the deduction of marks. Accounting requires excellent mathematics as well as a various understanding of the methods of accounting. There are also some formats which they had to follow and hence making it very difficult for students to achieve good marks. Students also require to learn other subjects as well as completely different assignments which results in a shortage of time for their studies. These reasons are enough to increase the chance of students not scoring good in their examinations.
As we know good marks are necessary for students to stand out from the crowd to get a good and stable job in their future. To reduce these kinds of issues, students must let the professionals complete their accounting assignments and they should study for their exams so that students can get good marks in their examinations. Also, not to say since students are less experienced in accounting, they generally take more time to complete the assignments which are not 100 percent correct hence making their efforts go in vain.
Accounting assignments are hard to complete due to many reasons. Given below are some of the reasons why professionals are required to complete Accounting assignments:
Students get confused upon seeing the numerous online accounting help provider which may make it difficult for students to choose the correct one. The students should choose the provider who is willing to put in the effort as the students themselves put their effort in making the assignments. Students should also check for their validity as this online assignment help may con them and hence, they would lose marks as well as money. Students should look for experts and also the provider with whom the previous students have praised. Not many assignments help providers think about the students because they know once the student comes to them there is no going back. The student should also make sure that the assignment help provider can finish the assignment before the deadline so that students have time to check the results to increase their chance of scoring good marks in their assignments. We at My Assignment Help can provide our clients with a professional-grade solution with no mistakes. What makes us the best? Check the next section.
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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 for weeks 7 to 11 (topics 6-10) inclusive and submit these answers in a single document.
Week 7 (Topic 6) (10 marks)Hi-Tech Products manufactures three (3) types of CD players: Cheap, Econo, and Deluxe. Hi-Tech uses an activity-based product costing system. The company has identified five (5) activities. Each activity, its cost, and related activity driver are identified below:
Activity |
Activity Cost |
Activity Driver |
||||
Material handling |
$225 000 |
Number of parts |
||||
Material insertion |
$2 475 000 |
Number of parts |
||||
Automated machinery |
$840 000 |
Machine hours |
||||
Finishing |
$170 000 |
Labor hours |
||||
Packaging |
$170 000 |
Orders shipped |
Total manufacturing cost $3 880 000
The following information pertains to each product line of CD players:
Cheap |
Econo |
Deluxe |
|
Units to be produced |
10 000 |
5000 |
2000 |
Orders to be shipped |
1000 |
500 |
200 |
Number of parts per unit |
10 |
15 |
25 |
Machine hours per unit |
1 |
3 |
5 |
Labour hours per unit |
2 |
2 |
2 |
Under an activity-based product costing system, what is the cost per unit of Cheap?
Week 8 (Topic 7) (10 marks)Assume for a firm that budgeted production for July and August is 180 000 and 200 000 units respectively. It takes half a kilogram of direct material to make one unit of the finished product. Materials inventory is maintained at 10 percent of the next month's budgeted production needs. If the 30 June inventory of materials was 5000 kg, how many kilograms of direct material should be purchased during July?
Week 9 (Topic 8) (10 marks)Cultco Company Ltd has set the following direct material standards per unit of product: 2.5 kg @ $3.00 per kg; $7.50 per unit. During April, actual direct material purchased and used amounted to 8000 kg at a cost of $3.10 per kg. The actual production amounted to 3000 units. Determine the total material variance.
Week 10 (Topic 9) (10 marks)The Bottle Division produces bottles that can be used by the Cologne Division. The Bottle Division's variable manufacturing cost per unit is $2.00 and shipping costs are $0.10 per unit. The Bottle Division's external sales price is $3.00 per unit. No shipping costs are incurred on sales to the Cologne Division. The Cologne Division can purchase similar bottles in the external market for $2.50. The Bottle Division has sufficient capacity to meet all external market demands in addition to meeting the demands of the Cologne Division.
Using the general rule, calculate the minimum transfer price from the Bottle Division to the Cologne Division. Explain your answer (4 marks)
Chelonia Ltd manufactures small robot toys. It plans to introduce two products, Speedie and Spunkie. It is anticipated that the product mix will be 40% Speedie and 60% Spunkie. One unit of Speedie will be sold for $100, with variable cost equals $40. For a unit of Spunkie, the selling price will be $120 and the variable cost is $70. The fixed cost for producing the two products is $108 000.
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