Management Accounting Assignment
Assignment Cover Sheet
School of Accounting
College of Business
Student Name
Student Number
Unit Name and Number
Management Accounting 200494
Tutorial Group
Tutorial Day and Time
Lecturer/Tutor
Title of Assignment
Major Assignment
Length
N/A
Due Date
This Assignment is due at the beginning of your tutorial class in Week `0, being the week commencing 30th April 2007.
Date Submitted
Campus Enrollment
Parramatta
Declaration
I hold a copy of this assignment that I can produce if the original is lost or damaged.
I hereby certify that no part of the assignment/product has been copied from any other student’s work or from any other source except where due acknowledgement is made in the assignment. No part of this assignment/product for me by another person except where such collaboration has been authorized by the subject lecturer tutor concerned.
Signature:………………………………………………….
Note : An examiner or lecturer/tutor has the right not to mark this assignment if the above declaration has not been signed)
Question No. 1
Lowder Ltd. Builds custom conveyor systems for warehouses and distribution centers. During the month of july, the following occurred :-
a. Material were purchased on account for $ 42,630.00
b. Materials totaling $ 27,000 were requisitioned for use in production - $ 12,500 for job # 703 and the remainder for job # 704.
c. Direct labour payroll for the month was $ 26,320 with an average wage of $ 14 per hour. Job # 703 required 780 direct labour hours and job # 704 required 1,100 direct labour hour.
d. Actual overheads of $ 19,950 were incurred and paid.
e. Overheads are charged to production at the rate of $ 10 per direct labour hour.
f. Job #703 was completed and transferred to finished goods.
g. Job # 704 which was started in July, remained in process at the end of the month.
h. Job # 700 which had been completed in May was sold on account for cost plus 30%.
Beginning balance as of 1 july were as
School of Accounting
College of Business
Student Name
Student Number
Unit Name and Number
Management Accounting 200494
Tutorial Group
Tutorial Day and Time
Lecturer/Tutor
Title of Assignment
Major Assignment
Length
N/A
Due Date
This Assignment is due at the beginning of your tutorial class in Week `0, being the week commencing 30th April 2007.
Date Submitted
Campus Enrollment
Parramatta
Declaration
I hold a copy of this assignment that I can produce if the original is lost or damaged.
I hereby certify that no part of the assignment/product has been copied from any other student’s work or from any other source except where due acknowledgement is made in the assignment. No part of this assignment/product for me by another person except where such collaboration has been authorized by the subject lecturer tutor concerned.
Signature:………………………………………………….
Note : An examiner or lecturer/tutor has the right not to mark this assignment if the above declaration has not been signed)
Question No. 1
Lowder Ltd. Builds custom conveyor systems for warehouses and distribution centers. During the month of july, the following occurred :-
a. Material were purchased on account for $ 42,630.00
b. Materials totaling $ 27,000 were requisitioned for use in production - $ 12,500 for job # 703 and the remainder for job # 704.
c. Direct labour payroll for the month was $ 26,320 with an average wage of $ 14 per hour. Job # 703 required 780 direct labour hours and job # 704 required 1,100 direct labour hour.
d. Actual overheads of $ 19,950 were incurred and paid.
e. Overheads are charged to production at the rate of $ 10 per direct labour hour.
f. Job #703 was completed and transferred to finished goods.
g. Job # 704 which was started in July, remained in process at the end of the month.
h. Job # 700 which had been completed in May was sold on account for cost plus 30%.
Beginning balance as of 1 july were as