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PASS ACTIVITIES

Facilitator: Julie Zhu


Year: 2019
Semester 1 — week: 8
Unit of Study: ACCT2019 Management Accounting
References: “Management Accounting, 3rd Ed”, Eldenburg, L.G.
Disclaimer: Please don't take PASS materials to your lecturer/tutor! “What happens in PASS stays in PASS…”

PROPOSED AGENDA
1. Accounting Information Systems (30 mins)
2. Revision: Support Department Allocation – Reciprocal Method (20 mins)
3. Revision: COGS Budget (20 mins)

LEARNING OUTCOMES
1. Understand and apply key concepts from the SAP Management
Accounting System
2. Revision of previous accounting concepts

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University of Sydney, and ‘like’ us on Facebook, or search USYDPASS or scan the QR
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ACCOUNTING INFORMATION SYSTEMS (20 minutes)

1. What is a ‘statistical key factor’?


a. A tool used for analysing value-added process
b. A process used for reconciling costs between management and financial accounting
c. A tracing factor used to allocate costs
d. A factor used to determine profitability

2. What is a profit centre?


a. Location of a closed entity used for management accounting
b. Location of revenue and costs
c. Location of cost incurrence
d. Location of a legal accounting entity

3. When is transaction based allocation carried out?


a. Following after periodic allocation
b. In delayed time at the end of a period
c. Following after a transaction has been recorded
d. In real-time

4. Which of the following characteristics best describes assessment allocation?


a. Allocating both primary and secondary cost elements
b. Allocating primary cost elements only
c. Cost elements retains its character
d. A and C
What is the difference between primary cost and secondary cost elements?
DISCLAIMER: PASS materials (e.g., activities/ questions/practice quizzes) have been developed by the PASS team using a range of
resources. Unlike lecture and tutorial materials, the content has not been developed in collaboration with lecturers and it does not have
the status of “formal course content”. Rather, it is based on common questions from students and your facilitator’s experiences. PASS
materials are only intended for PASS sessions and are not to be taken to lecturers or tutors. PASS material is not necessarily representative of
assessable/examinable content but does provide opportunities to deepen and apply your learning in specific unit of studies. For specific
advice on examinable content ALWAYS consult with your lecturers. The PASS team do not know what is on exams and cannot comment
on assessable materials at any time. It is not ethical for PASS facilitators to share their knowledge of the exams they have sat in the past, to
advantage PASS participants against people who do not come to PASS. The PASS management team have instructed PASS facilitators
not to provide such information at anytime.
Primary Cost Elements Secondary Cost Elements

Fill out the table using the different cost allocation methods. (Please note: this is only a guideline to help you,
not an absolute framework).

Activity Allocation

Cost Allocations

Transaction based
Surcharge Allocation
allocation

DISCLAIMER: PASS materials (e.g., activities/ questions/practice quizzes) have been developed by the PASS team using a range of
resources. Unlike lecture and tutorial materials, the content has not been developed in collaboration with lecturers and it does not have
the status of “formal course content”. Rather, it is based on common questions from students and your facilitator’s experiences. PASS
materials are only intended for PASS sessions and are not to be taken to lecturers or tutors. PASS material is not necessarily representative of
assessable/examinable content but does provide opportunities to deepen and apply your learning in specific unit of studies. For specific
advice on examinable content ALWAYS consult with your lecturers. The PASS team do not know what is on exams and cannot comment
on assessable materials at any time. It is not ethical for PASS facilitators to share their knowledge of the exams they have sat in the past, to
advantage PASS participants against people who do not come to PASS. The PASS management team have instructed PASS facilitators
not to provide such information at anytime.
REVISION: SUPPORT DEPARTMENT ALLOCATION – RECIPROCOL METHOD (20 mins)

DIY Breakfast is developing departmental overhead rates based on direct-labour hours for its two production
departments; Cereal and Toast. The Cereal Department employs 20 people and the Toast department
employs 80 people. Each person in these two departments works 2000 hrs per year.

The production related Overheads for Cereal are budgeted at $200 000 and Toast have a budget of $320 000.
Two service departments: Computing and Media Relations directly support the two production departments.
These service departments have budgeted costs of $48 000 and $250 000 respectively.

The production departmental overhead rates CANNOT be determined until the support department costs
have been allocated. The following information regarding the use of the support services is as follows:

Usage of support services

Computing Media Relations Cereal Toast

Computing (hours) 0 1000 1000 8000

Media Relations (mins) 240 000 0 840 000 120 000

Required: Calculate the overhead rates per direct labour hour for the Cereal Department and the Toast
Department. Use the reciprocal services method to allocate service department costs.

DISCLAIMER: PASS materials (e.g., activities/ questions/practice quizzes) have been developed by the PASS team using a range of
resources. Unlike lecture and tutorial materials, the content has not been developed in collaboration with lecturers and it does not have
the status of “formal course content”. Rather, it is based on common questions from students and your facilitator’s experiences. PASS
materials are only intended for PASS sessions and are not to be taken to lecturers or tutors. PASS material is not necessarily representative of
assessable/examinable content but does provide opportunities to deepen and apply your learning in specific unit of studies. For specific
advice on examinable content ALWAYS consult with your lecturers. The PASS team do not know what is on exams and cannot comment
on assessable materials at any time. It is not ethical for PASS facilitators to share their knowledge of the exams they have sat in the past, to
advantage PASS participants against people who do not come to PASS. The PASS management team have instructed PASS facilitators
not to provide such information at anytime.
REVISION: COGS BUDGET (20 mins)

You are the management accountant for Apple. They have recently launched the new iPhone 11 and want to
know what number to record on the financial statements for the cost of goods sold.

For the month of September, units to be produced equal 20000, direct materials usage is budgeted to be
$4.3M, direct labour is budgeted to be $1.2M, and overhead costs are budgeted to be $2.5M. On August 31,
work-in-process inventory was $1200 and 10000 iPhone were completed. On September 31, work-in-process
inventory is estimated to be $1800 and 12000 iPhone’s were completed.

Required: Prepare the COGS Budget for Apple’s iPhone 11.

DISCLAIMER: PASS materials (e.g., activities/ questions/practice quizzes) have been developed by the PASS team using a range of
resources. Unlike lecture and tutorial materials, the content has not been developed in collaboration with lecturers and it does not have
the status of “formal course content”. Rather, it is based on common questions from students and your facilitator’s experiences. PASS
materials are only intended for PASS sessions and are not to be taken to lecturers or tutors. PASS material is not necessarily representative of
assessable/examinable content but does provide opportunities to deepen and apply your learning in specific unit of studies. For specific
advice on examinable content ALWAYS consult with your lecturers. The PASS team do not know what is on exams and cannot comment
on assessable materials at any time. It is not ethical for PASS facilitators to share their knowledge of the exams they have sat in the past, to
advantage PASS participants against people who do not come to PASS. The PASS management team have instructed PASS facilitators
not to provide such information at anytime.
REVISION: JOB COSTING

You are the management accountant at Alienware – a custom gaming laptop manufacturer. Custom laptops
have been ordered by Riot and Blizzard. Use job costing concepts to find the costs of each job.

Direct Direct Estimated Estimated Actual Square Actual Machine


Material Labour Square Feet Machine Hrs Feet Used Hrs Used
Required Required
Riot’s Job $100 $300 10 30 8 34

Blizzard’s $200 $400 20 40 16 42


Job

Total $300 $700 30 70 24 76

1. Use the table above and determine which the most appropriate allocation base for Alienware’s cost pools.

Overhead Cost Pool Estimated OH Cost Actual OH Cost Allocation Base

Factory Rent $1500 $1440

Machine Maintenance $1750 $2280

Total $3250 $3720

Riot’s Job

ACTUAL COSTING NORMAL COSTING


2. Determine the
OH allocation rate

3. Determine the
OH cost of the job

DISCLAIMER: PASS materials (e.g., activities/ questions/practice quizzes) have been developed by the PASS team using a range of
resources. Unlike lecture and tutorial materials, the content has not been developed in collaboration with lecturers and it does not have
the status of “formal course content”. Rather, it is based on common questions from students and your facilitator’s experiences. PASS
materials are only intended for PASS sessions and are not to be taken to lecturers or tutors. PASS material is not necessarily representative of
assessable/examinable content but does provide opportunities to deepen and apply your learning in specific unit of studies. For specific
advice on examinable content ALWAYS consult with your lecturers. The PASS team do not know what is on exams and cannot comment
on assessable materials at any time. It is not ethical for PASS facilitators to share their knowledge of the exams they have sat in the past, to
advantage PASS participants against people who do not come to PASS. The PASS management team have instructed PASS facilitators
not to provide such information at anytime.
4. Determine the
total cost of the
job

Blizzard’s Job

ACTUAL COSTING NORMAL COSTING


2. Determine the
OH allocation rate

3. Determine the
OH cost of the job

4. Determine the
total cost of the
job

5. Calculate NET over / under applied amount for overhead costs.

6. Is the amount material?

DISCLAIMER: PASS materials (e.g., activities/ questions/practice quizzes) have been developed by the PASS team using a range of
resources. Unlike lecture and tutorial materials, the content has not been developed in collaboration with lecturers and it does not have
the status of “formal course content”. Rather, it is based on common questions from students and your facilitator’s experiences. PASS
materials are only intended for PASS sessions and are not to be taken to lecturers or tutors. PASS material is not necessarily representative of
assessable/examinable content but does provide opportunities to deepen and apply your learning in specific unit of studies. For specific
advice on examinable content ALWAYS consult with your lecturers. The PASS team do not know what is on exams and cannot comment
on assessable materials at any time. It is not ethical for PASS facilitators to share their knowledge of the exams they have sat in the past, to
advantage PASS participants against people who do not come to PASS. The PASS management team have instructed PASS facilitators
not to provide such information at anytime.
7. How should the adjustments be recorded?

DISCLAIMER: PASS materials (e.g., activities/ questions/practice quizzes) have been developed by the PASS team using a range of
resources. Unlike lecture and tutorial materials, the content has not been developed in collaboration with lecturers and it does not have
the status of “formal course content”. Rather, it is based on common questions from students and your facilitator’s experiences. PASS
materials are only intended for PASS sessions and are not to be taken to lecturers or tutors. PASS material is not necessarily representative of
assessable/examinable content but does provide opportunities to deepen and apply your learning in specific unit of studies. For specific
advice on examinable content ALWAYS consult with your lecturers. The PASS team do not know what is on exams and cannot comment
on assessable materials at any time. It is not ethical for PASS facilitators to share their knowledge of the exams they have sat in the past, to
advantage PASS participants against people who do not come to PASS. The PASS management team have instructed PASS facilitators
not to provide such information at anytime.