ACCT5016-Management Accounting Practice Examination – Management Assignment Help

Assignment Task

Task 

PART A

Question 1 – Management Accounting in Context and Cost Behavior 
a. Explain the term ‘supply chain’ and its importance to the management of activities. 
b. Name the five areas in which there are standards of ethical conduct for management accountants in Australia. Name the organisations that set these standards. 
c. The management accountant of Aspire Transportation Ltd is developing the budgets for next quarter and needs to estimate a cost function for delivery costs. Information regardingdelivery costs incurred in the past months are:

Required:
i. Using the high-low method, estimate the linear relationship between kilometers covered anddelivery costs. 
ii. If Aspire Transportation Ltd plans to cover 16,900 kilometers for February, what should theestimated delivery costs be?

Question 2 – Costing Concepts and CVP Analysis 
a. Jane’s Clothing Design sells skirts for girls and women. The average selling price and variablecost for each product are as follows:

The fixed costs are $38 400. The sales mix of girls’ skirts to women’s skirts is 35%/65%. That is, 35% ofskirts sold are girls’ skirts and 65% are women’s skirts.

Required:
i. What is the break-even point in units for each type of skirt? 
ii. What is the operating profit when sales total 9000 skirts? 

b. Parvotrib Ltd advises multinational companies on how to manage their tax burden. Parvotrib charges clients for direct professional time at an hourly rate, and support services at 30% of the direct professional costs billed. The three professionals at Parvotrib and their rates per professional-hour are:

Required:
Calculate the amounts that Parvotrib charged to Guguliano Ltd and Amsterdam Enterprises for May2019.

PART B

Question 4 – Activity-based Costing 
Supreme Ceramics Ltd produces classic vases and supreme vases in Adelaide. The budgeted direct costs are $350,000 and $480,000 for producing 4,000 classic vases and 6,000 supreme vases for 2021. The total budgeted indirect manufacturing cost of $890,000 is based on machine setups. The information about the indirect manufacturing cost for 2021 is given as follows:

Required:
i. Calculate the budgeted total cost and unit cost of produces classic vases and supreme vases using the plant-wide costing system. 
ii. Calculate the budgeted total cost and unit cost of produces classic vases and supreme vases using the activity-based costing system. 

Question 5 – Pricing and Decision-making 
a. Discuss the cost-based pricing and market-based pricing with two examples. Explain theimportance of customer-profitability analysis in decision-making.
b. Safe Warehousing Inc. provides storage facilities to one of its customers, Classic Removalists.The following data related to Classic Removalists for 2020:

If Safe Warehousing Inc. drops the Classic Removalists account, it could generate $16,000 incremental future operating income per year from the released space. The warehouse insurance cost of $5,000 is related to Classic Removalists. The general administrative costs will be reduced
by $4,000 per year by dropping the Classic Removalists account.

Required:
Based on relevant-revenues and relevant-cost analysis, should Safe Warehousing Inc. drop the ClassicRemovalists account? Show your calculations. (

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