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Student Number: (enter on the line below)
Student Name: (enter on the line below)

TIME ALLOWED: 4.5 hours
All answers must be submitted within this time frame. Late submissions are not accepted.
Assessment Weight: 50 total marks
• All questions must be answered by using the answer boxes provided in this paper.
• Your answers must be submitted in this document to Blackboard by the published due date and time. Late submissions are not accepted.
• Before commencing, save this document with your Student Number and Unit Code as the file name e.g. EMV12345 HI5017
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Please make sure you follow the submission instructions at the end of this paper.
This assessment consists of six (6) questions and is designed to assess your level of knowledge of the key topics covered in this unit.
Question 1 (7 marks)
a) Evaluate how useful managerial accounting is in organisations. Provide examples in your answer. (3 marks)
ANSWER a): ** Answer box will enlarge as you type
b) Fast Call Ltd, a call centre company, has the following cost data for the past year.
Month Number Overtime
of Calls Wages ($)
July 11 000 7 400
August 9 000 6 900
September 5 000 6 500
October 9 000 6 600
November 8 000 6 800
December 11 000 7 450
January 12 500 7 890
February 8 000 6 800
March 1 000 6 050
April 7 000 6 100
May 5 000 6 200
June 10 000 7 300
i) Using the high-low method, express the company’s overtime wages as an equation where x represents the number of calls. (3 marks)
ii) Predict the overtime wages if 12,000 calls are answered. (1 mark)
Question 2 (11 marks)
a) Explain if using volume-based cost drivers are relevant in the costing systems of 21st century organisations. (3 marks)
b) Blanky Ltd manufactures small and large electric blankets. The company’s most popular product is Deluxe. The following are Deluxe’s data for next year’s budget:
Activity Cost Driver Cost driver volume/year Cost pool
Purchasing Purchase orders 1,600 $80,000
Setting Batches produced 2,500 $115,000
Materials handling Materials movements 8,000 $98,000
Inspection Batches produced 2,500 $75,000
Machining costs Machine hours 50,000 $145,000
Finishing Labour hours 16,000 $400 000
Actual production data for the year for Deluxe were:
Purchase orders 30
Output 20,000 units
Batches produced 180
Materials movements 800
Machine hours 1600
Labour hours 8000
Calculate the manufacturing overhead cost applied to Deluxe using the ABC system. Round answers to two (2) decimal places. (3 marks)
i. Calculate the overhead cost per unit using the ABC system. (1 mark)
ii. The company used a single plant-wide overhead rate in the past. This would result in an applied manufacturing overhead of $26 560 or $1.33 per unit. Compare this figure to your answer in (c), and comment on its implications on the cost of the company’s products. (4 marks)
Question 3 (7 marks)
Trackers Ltd is a retailer of a popular outdoor tracker gadget and provides you with the following information for the preparation of its 1st quarter budget: July - September. Actual and budgeted sales are as follows:
Month Sales ($) Units sold
May 250,000 2,500
June 280,000 2,800
July 300,000 3,000
August 400,000 4,000
September 350,000 3,500
October 370,000 3,400
Additional information:
i) Purchases are budgeted at $5.00 per unit and are paid for in full in the month after purchase.
ii) Closing inventory must equal 30% of the next month’s sales.
iii) 40% of its sales are in cash, and the remainder is on credit sales. Credit sales are collected as follows: 50% in the month of sale, 40% in the month after the sale, 5% in the second month after the sale.
iv) Assume that credit sales for May and June have all been collected in the last quarter.
v) The balance in the bank account as of 30 June is $10,000.
a) Prepare a purchase budget (in units and $) for the 1st quarter. (Purchases are based on expected sales). (3 marks)
b) Prepare the schedule of expected cash collections from Accounts Receivable for the 1st quarter. (3 marks)
c) Comment on the company’s credit collection policy. (1 mark)
Question 4 (7 marks)
a) Name two non-financial performance measures for the following businesses:
• A 3-star hotel
• An international airline company
Make sure that your measures are specific to each type of business. (2 marks)
b) Assume the following objectives have been developed for Recycle Plastics Ltd, whose management is considering designing a balanced scorecard.
Financial perspective Improve profitability
Customer perspective Improve customer satisfaction
Increase market share
Internal business process perspective Improve recycling time
Improve the quality of products
Learning and growth perspective Train staff in plastics awareness
Develop innovative products
Using the Balanced Scorecard and based on the objectives provided, draw a strategy map for Recycle Plastics Ltd. (5 marks)
Question 5 (11 marks)
Enviro Doors Ltd sells a single product - sliding doors to home improvement retailers nationwide.
The company is planning for next year, and the following profit statement was recently discussed at the management meeting.
Sales (16,000 units @ $120) $1,920,000
Variable costs (16,000 units @ $68) $1,088,000
Contribution margin $ 832,000
Fixed costs $ 40,500
Net income (loss) $ 791,500
a) How many units must be sold to break even? (2 marks)
b) How much is the total break-even sales dollars for the company? (1 mark)
c) Based on the above information, the national sales manager believes that if they invest an additional $32,000 in advertising, they will increase sales volume by 10,000 units. Prepare a forecasted contribution margin income statement for Enviro Doors Ltd if they incur additional advertising costs. (4 marks)
d) Do you think it’s a good suggestion? Explain. (2 marks)
e) Suggest another way the company can increase its profits next year. (2 marks)
Question 6 (7 marks)
a) ‘While it is important to have an understanding of the costs of providing goods and services, costing information is certainly not the major driver of prices in most organisations.’
Discuss what the above statement means. Include examples in your answers. (3 marks)
b) The Cake Factory bakes and sells a standard-size sponge vanilla cake for $1.75 each. The cost of producing 500,000 standard vanilla cakes in the prior year was:

At the start of the current year, The Cake Factory received a special order for 18,000 standard sponge vanilla cakes to be sold for $1.50 each. The company estimates it will incur an additional $1,000 in total fixed costs to lease a special machine that shapes the cake. This order will not affect any of its other operations.
Should the company accept the special order? Show your work. (4 marks)
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