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BFA612

MANAGEMENT AND COST ACCOUNTING

Semester 1, 2020

Assessment task 2: Report

Due date: Week 10 Friday May 8th by 5.00pm

Percentage weighing 20%

Read the following information and answer the questions that follow.

Go to www.Youtube.com and search for ‘ How Its Made’, -online videos that document how

various everyday products (and services) are made. Find a product that interests you and your

group members and answer the following seven questions:

1) Discuss the cost drivers (at least 4) for assigning the cost of activities to cost objects

of the chosen product. Select and critically discuss high and low-cost activities.

2) Identify two variable costs of making the product. Explain -what makes it a variable

cost and why? Give one example of how a manager (in this scenario) can increase

variable costs while decreasing fixed costs.

3) Identify two fixed costs of making the product. Explain – what makes it a fixed cost

and why? Give one example of how a manager (in this scenario) can decrease variable

costs while increasing fixed costs.

4) Using the activity-based costing approach, determine overhead rates for each activity

that is relevant to production. Identify all inputs required. Using excel spreadsheet,

estimate and show all calculations required.

5) Calculate the operating expense of the selected product for 1000 units. Using excel

spreadsheet, estimate and show all calculations required.

6) Using excel spreadsheet, compute how a company that makes this product would

compute gross margin (for 1000 units) and contribution margin (for 1000 units).

Provide one example each and critically discuss the results from your spreadsheet.

7) Discuss how the company can greatly improve its overall profitability by creating

value for waste and developing full environmental costs. Provide 2 recommendations

to the company on the following issues: a) the importance of cost control for business

sustainability b) management accounting innovations

Guidelines:

1. Each group member should browse at least 3-4 videos before selecting one video as a

case for this assessment. This process will require rounds of group discussion. There

should a full consensus within group members in the case (video) selection for your

group assesment. Make sure that you double check you are using the video from How

Its Made. Assessment will not be marked if the video selected is not from the ‘How

Its Made’

2. This assignment is to be submitted online and in a hard copy. Kindly read the

submission guidelines mentioned below.

3. It is important that you show your calculations using excel. You are required to

estimate (where necessary) and determine the outputs for 1000 units.

4. Your discussion should be directly linked to the case selected. Vague and general

discussion will not get marks.

5. It is important that management accounting terminologies and key words are

mentioned in answering the discussion questions.

6. Your assignment must reflect critical analysis skills. Each question should be dealt

with full complexity. Provide high level of detail to reflect critical analysis.

7. Provide calculations and industry examples to back up your claim.

8. This assignment has 7 questions. Answer all the 7 questions.

9. It is important that you consult scholarly/academic/genuine media articles for your

case and provide proper reference.

10. Assignment should meet all the above requirements. Each question should be

addressed thoroughly. Excel examples should be appropriate, logical and included,

where necessary.

11. The report should be professionally presented.

12. Under no circumstances should you share your assessment with other students. This

constitutes academic misconduct and action will be taken. All similarity reports on

Turnitin will be thoroughly checked for matching with other assignments.

Team Operating Guidelines

1. Each student should attend all team meetings decided on by the group. 2. This is a group work. Each group member should equally participate and share the

assessment workload. There should NOT be any free-riders in the group.

3. Each group should comprise of 4 members only.

4. Each student should complete tasks assigned within the group on time.

5. Keep team members informed of any unforeseen difficulties that could affect your

ability to complete your task (eg. illness, poor understanding or lack of knowledge).

6. Contributions should be equal in quality. There should NOT be any free riders in the

group

7. Contribute and share ideas equally with other team members.

8. Use proper referencing with all your contributions.

9. Keep adequate meeting minutes with action items; all members should sign these

as true after each formal meeting. All meeting minutes should be available to

present upon request.

Submission guidelines

Your assignment should have three sections: Executive summary, Main Body (7 questions)

and conclusion. As a group, you must submit two separate files; excel file and word file

(Times New Roman, 12 font size, 1.5 line spacing). In the word file, you should write the

discussion questions. The word limit for this assignment is between 1300-1500 words

including everything.

An electronic copy of your assignment needs to be submitted to the relevant BFA612 MyLO

assignment dropbox by the due date (Week 10 Friday May 8th by 5.00pm) and time. The file

name should include your names and student numbers. Altogether your assignment should

contain excel files and word documents.

Please also submit a hard copy of the assignment (collated in the order noted above). As

campus assignment boxes have been removed, please HAND TO YOUR LECTURER. The due

date and time for hard copies is your normal Week 10 workshop.

If you have any queries on the Case Study Assignment, please post your query to the

Assignment Discussion area on MyLO.

Criterion High Distinction (80-100%) Distinction (70-79%) Credit (60-69%) Pass (50-59%) Fail (0-49%)

Analyse the revenue,

costs and variances

for case studies to

provide answers to

specific questions.

5 marks

Assignment demonstrates an

exemplary analysis and

calculation of cost and

management accounting

principles.

Assignment demonstrates a very

good analysis of cost and

management accounting

principles.

Assignment demonstrates

some reflection on cost and

management accounting

principles.

Assignment

demonstrates general

reflection on cost and

management

accounting principles

Assignment does not

demonstrate any

reflection on cost and

management

accounting principles

Research, interpret

and apply

management

accounting

techniques and

theories specific to

case studies.

5 marks

Excellent and logical use of

management accounting

keywords, techniques and

concepts. Discussion is

systematically supported by

logical real-world

examples/business

examples/research. Application

of management accounting

techniques is exemplary.

Good use of management

accounting keywords,

techniques and concepts. Most

of the arguments are supported

by real world examples/business

examples/research. A good

application of management

accounting techniques is

reflected.

Some awareness of

management accounting

keywords, techniques and

concepts is exhibited. Only a

few arguments are supported

by some general real world

examples/business

examples/research. An

application of management

accounting techniques is

somewhat reflected.

Use of management

accounting techniques

and tools are vague.

Arguments are vaguely

supported by real world

examples/business

examples/research.

Assignment does not

reflect logical and

appropriate use of

management

accounting techniques.

Interpretations are not

insightful and does not

meet this criteria.

Identify social

responsibility and

sustainability issues

in the business

context.

10 marks

Exemplary critical analysis of

key social responsibility and

sustainability issues is

conducted.

A good analysis of majority of

the social responsibility and

sustainability issues is

conducted.

A basic analysis of a few

social responsibility and

sustainability issues is

conducted.

Social responsibility

and sustainability

issues are vaguely

discussed.

Social responsibility

and sustainability

issues are illogical and

do not provide

evidence of meeting

the criteria.

Use interpersonal

skills to provide

recommendations in

the form of a

business report.

5 marks

Report is presented

professionally and has flawless

English. Report demonstrates

exemplary, logical and

genuine recommendations.

Adheres to professional

reporting conventions.

Very good use and expression

of English is reflected. Report

demonstrates logical

recommendations.

Report contains no more than

two writing mistakes (grammar,

spelling, writing error, &

sentence error).

Good use and expression of

English is demonstrated.

Recommendations are

satisfactory but lacks some

clarity.

Report contains no more

than four writing mistakes

(grammar, spelling, writing

error, & sentence error).

A basic use and

expression of English

is demonstrated.

Recommendations are

not very applicable,

general and vague.

Report contains more

than 5 mistakes

(grammar, spelling,

writing error, &

sentence error).

The report does not

reflect minimum

interpersonal skills

criteria.

Recommendations lack

clarity and cannot be

used in the real world.

Apply teamwork

skills to analyse case

studies. Develop a

cohesive team

structure and reflect

on roles of self and

peers.

10 marks

Assignment shows strong

evidence of excellent teamwork

skills. Group members have

contributed equally. Report

reflects quality and uniformity.

Information on team structure,

roles and work distribution is

systematically documented and

presented when asked.

Assignment shows good

evidence of teamwork skills.

Group members have

contributed equally.

Information on team structure,

roles and work distribution is

documented and presented when

asked.

Assignment shows some

evidence of teamwork skills.

Information on team

structure, roles and work

distribution is presented

(when asked) but lacks

clarity.

Assignment shows

minimum evidence of

teamwork skills.

Information (when

asked) on team

structure, roles and

work distribution is

unclear and points

towards some

inconsistencies.

Assignment shows

least evidence of

teamwork skills.