MGT402 Assignment 1 Spring 2021 – Assignments – Solution VU
SEMESTER SPRING 2021
COST & MANAGEMENT ACCOUNTING (MGT402) ASSIGNMENT # 01
DUE DATE: August 4, 2021 MARKS: 10
To develop an understanding regarding the Production, Functional and Master budgets
Question: Following information has been extracted from the books of Noor Company and the information is related to manufacturing of a product named XYZ. Following sales budget in units has been estimated based on region client age.
According to company policy, following will be the Finished Goods inventory in units.
Following material (A, B and C) and labor costs were added to manufacture XYZ.
- Material A 2 kg @ Rs. 6 per kg (for manufacturing 1 unit)
- Material B 10 pieces @ Rs. 2 per piece (for manufacturing 1 unit)
- Material C 1 liter @ Rs. 10 per liter (for manufacturing 1 unit)
4 hours were required labor hours to manufacture a unit at rate Rs. 250 per hour
- Do you think that any change in the desired finished goods inventory on January 1 will affect the production requirement for the month of January, February and March? Justify the
- How production requirement for the month of January, February and March will be affected due to decrease in desired finished goods inventory on January 31. Provide justification with your No working is required
- Describe which functional budget(s) will be affected due to decrease in desired finished goods inventory on January 31 and how the change will reflect in the Master
- At the end of the first quarter; it was observed that there was difference in obtained results with budgeted It was reported that desired finished goods inventory on January 31; was 1,000 units but not 1,400 units. Prepare the direct material cost budget for the month of February. Provide complete working in proper format
NOTE: Discuss the affect in particular direction as mentioned in part (b) and (c) on monthly basis and quarterly as well. Recall the concept of production budget while commenting on part (a), (b) and (c)
Grace period of extra 24 hours after the due date is usually available to overcome uploading difficulties. This extra time should only be used to meet the emergencies and above mentioned due dates should always be treated as final to avoid any inconvenience.
- Take help from internet for collecting the
- Carefully watch relevant lectures and consult the relevant material from handouts along with recommended
- Attempt the assignment by yourself and it will be entertained
OTHER IMPORTANT INSTRUCTIONS:
- Make sure to upload the solution file before the due date on
- Any submission made via email after the due date will not be
- Use the font style “Times New Roman” or “Arial” and font size “12”.
- It is advised to compose your document in MS-Word
- You may also compose your assignment in Open Office
- Use black and blue font colors
RULES FOR MARKING
Please note that your assignment will not be graded or graded as Zero (0), if:
- It is submitted after the due
- The file you uploaded does not open or is
- It is in any format other than MS-Word or Open Office; g. Excel, PowerPoint, PDF etc.
- It is cheated or copied from other students, internet, books, journals
Note related to load shedding: Please be proactive
As you know that Post Mid-Term semester activities have been started and load shedding problem is also prevailing in our country now a days. Keeping in view the fact, you all are advised to post your activities as early as possible without waiting for the due date. For your convenience; activity schedule has already been uploaded on VULMS for the current semester, therefore no excuse will be entertained after due date of assignments, quizzes or GDBs.
Students kindly share assignment files in relevant subject timely for discussion/solution.
or directly share with us ” Click here“
QueryVU Telegram Groups subject wise Join Now
QueryVU WhatsApp groups subject wise Join Now
#MGT402 #Assignment #Spring #Assignments #Query