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MAA262 – Management Accounting – Trimester 2 2020
Assessment Task 2 – Individual Assignment II
DUE DATE AND TIME: Week 9, 14/05/2021, by 8:00 pm (AEST)
PERCENTAGE OF FINAL GRADE: 20%
WORD COUNT: 2,000 words
Description
This assignment task will consolidate your understanding of some of the key concepts covered in this unit.
Please submit your answers to the questions in the order they are presented, clearly identifying on the
document which question is being addressed. As long as you are identifying which question is being addressed
you are not required to repeat the question on your assignment.
Your response should respond to all questions. The word limit is 2,000 words (maximum) in total, and words
limit includes headings, tables, references and appendices. Note that a contents page, cover page, and an
executive summary are not required. Regarding the formatting of the assignment, there is no specific
requirement regarding font, font size and line spacing. There is no minimum amount of words. Any word above
the limit of 2,000 will be penalised by 1 mark for each additional word, thus 2,010 words have a 10 marks
penalty, 2,020 words have a 20 marks penalty, and henceforth.
Please peruse the discussion forum as you may find the information you are looking for. If you are unable to
find the information regarding the individual assignment you are looking for, please contact the teaching team
by using the discussion forum on CloudDeakin. Contact via email with the unit chair or teaching team should
only be used for a personal and private matter.
Check your student identification for completing the correct assignment version:
VERSION A → Student identification finishing with 0, 1, 2, and 3.
VERSION B → Student identification finishing with 4, 5, and 6.
VERSION C → Student identification finishing with 7, 8, and 9.
Learning Outcomes
This task allows you to demonstrate achievement towards the unit learning outcomes. The ULOs are aligned
with specific graduate learning outcomes – that is, the skills and knowledge graduates are expected to have
upon completion of their studies – and this assessment task is an important tool in determining achievement
of those outcomes.
If you do not demonstrate achievement of the unit learning outcomes, you will not be successful in this unit.
It is good practice to familiarise yourself with the ULOs and GLOs as they provide guidance on the knowledge,
understanding and skills you are expected to demonstrate upon completion of the unit. In this way, they can
be used to guide your study.
Unit Learning Outcomes (ULO) Graduate Learning Outcomes (GLO)
Page 2 of 9
ULO1: Incorporate ethical factors into managerial accounting
decisions.
GLO1
ULO2: Apply cost and budget concepts to the organisation’s
planning, control and management accounting decisions.
GLO1
ULO3: Analyse and evaluate performance measures and link
to organisational strategy.
GLO1 and GLO5
ULO4: Communicate management accounting concepts and
use appropriate technology to provide information to
relevant stakeholders.
GLO2
Submission
You are to submit your assignment in the individual Assignment Dropbox in the MAA262 CloudDeakin unit site
on or before the due date. When uploading your assignment, name your document using the following syntax:
For example, ‘Jones_Barry_123456789_ABC123.doc’.
Submitting a hard copy of this assignment is not required. You must keep a backup copy of every
assignment you submit, until the marked assignment has been returned to you. In the unlikely event
that one of your assignments is misplaced, you will need to submit your backup copy.
Any work you submit may be checked by electronic or other means for the purposes of detecting
collusion and/or plagiarism. When you submit an assignment through your CloudDeakin unit site, you
will receive an email to your Deakin email address confirming that it has been submitted. You should
check that you can see your assignment in the Submissions view of the Assignment Dropbox folder after
upload, and check for, and keep, the email receipt for the submission.
Marking and feedback
The marking rubric for this task is below and also available in the MAA262 CloudDeakin unit site - in the
Assessment folder (under Assessment Resources).
It is always a useful exercise to familiarise yourself with the criteria before completing any assessment
task. Criteria act as a boundary around the task and help identify what assessors are looking for
specifically in your submission. The criteria are drawn from the unit’s learning outcomes ensuring they
align with appropriate graduate attribute/s. Identifying the standard you aim to achieve is also a useful
strategy for success and to that end, familiarising yourself with the descriptor for that standard is highly
recommended.
Students who submit their work by the due date will receive their marks and feedback on CloudDeakin
15 working days after the submission date.
Extensions
Extensions will only be granted for exceptional and/or unavoidable circumstances outside the student’s
control.
Page 3 of 9
Students seeking an extension for an assignment prior to the due date should apply directly to the Unit
Chair by completing the Assignment and Online Test Extension Application Form. Requests for extensions will
not be considered after 12 noon on the due date. Applications for special consideration after the due date
must be submitted via StudentConnect.
Late submission
The following marking penalties will apply if you submit an assessment task after the due date without an
approved extension: 5% will be deducted from available marks for each day up to five days, and work that is
submitted more than five days after the due date will not be marked and will receive 0% for the task.
'Day' means working day for paper submissions and calendar day for electronic submissions. The Unit Chair
may refuse to accept a late submission where it is unreasonable or impracticable to assess the task after the
due date.
Calculation of the late penalty is as follows:
• 1 day late: submitted after Friday 11:59 pm and before Saturday 11:59 pm – 5% penalty.
• 2 days late: submitted after Saturday 11:59 pm and before Sunday11:59 pm – 10% penalty.
• 3 days late: submitted after Sunday 11:59 pm and before Monday 11:59 pm – 15% penalty.
• 4 days late: submitted after Monday 11:59 pm and before Tuesday 11:59 pm – 20% penalty.
• 5 days late: submitted after Tuesday 11:59 pm and before Wednesday 11:59 pm – 25% penalty.
Dropbox closes the Wednesday after 11:59 pm AEST time.
Support
The Division of Student Life (see link below) provides all students with editing assistance. Students who wish
to take advantage of this service must be organized and plan ahead and contact the Division of Student Life in
order to schedule a booking, well in advance of the due date of this assignment.
http://www.deakin.edu.au/about-deakin/administrative-divisions/student-life
Referencing
Any material used in this assignment that is not your original work must be acknowledged as such and
appropriately referenced. You can find information about plagiarism and other study support resources at the
following website: http://www.deakin.edu.au/students/study-support
Use the Harvard style of referencing. More information regarding referencing styles at
https://www.deakin.edu.au/students/studying/study-support/referencing
There is no such thing as a minimum or maximum amount of references to be used in this assignment, and
references should be used only when required. If a question requires research for answering, check the
guidelines available on the academic skills study support page:
http://www.deakin.edu.au/students/studying/study-support/academic-skills
Academic misconduct
For information about academic misconduct, special consideration, extensions, and assessment feedback,
please refer to the document Your rights and responsibilities as a student in this Unit in the first folder next
to the Unit Guide in the Resources area of the CloudDeakin unit site.
Page 4 of 9
Fluffy Unicorn Investments (FUI)
You are an intern working for FUI, a large venture capital firm in Adelaide which does regular due diligences.
Among other regular clients, FUI has done due diligences for Deliziosa Purea & Succhi (DP&S) and Monopattino
Veloce (MV).
For the sake of simplicity, this assignment does not consider taxes and other fees and whenever possible
support your arguments with your calculations.
For the assignment you will be required to answers questions regarding topics which were not taught yet
during the trimester. Whereas some units require students to do some research, which often means searching
in academic books and journals for a suitable solution for the matter discussed, in this unit you must study
parts of the textbook which were not taught yet.
Regarding how answering the questions, please note there is a choice for quality over quantity. This means
most questions are complex but do not require wordy answers. Instead of asking students to define a concept,
often the request is for students to apply a concept to the specific case of the assignment and supporting it
with your own calculations using the data provided on the assignment. When preparing your answers, please
break down the information as much as you can. Please classify apart the items (i.e., break down the items)
because if you are providing the total amounts and they are incorrect, you get zero marks, whereas if you
provide the breakdown and some of items are correct, you can get some marks. Keep in mind you are not
preparing reports for financial accounting, so break down the cost items as much as possible.
Question 1
One of your colleagues at FUI named Jane is concerned whether what she has done something wrong or not
at work. Jane is a management accountant working at FUI, and one of Jane’s close family members owns a
small company, Company Z, which provides service to FUI. When preparing the performance report for the
service providers, Jane noticed Company Z was underperforming, and it was likely to have its contract
terminated by FUI. Before finalising the performance report, Jane calls her relative and tells him regarding the
report she is preparing, and the risk Company Z might have its contract terminated. She also tells her relative
what the other service providers are doing for avoiding being underperforming and keeping their contracts
with FUI.
Required
Please state two of the ethical standards, as provided by the Institute of Management Accountants (IMA)
Statement of Ethical Professional Practice1, which are being jeopardized and justify why these two standards
are being jeopardized. Please explain how Jane could help her relative without jeopardizing these two ethical
standards. (For an answer with more than two ethical standards the first two standards will be marked, and
the remainder will be ignored). (Chapter 1, 10 marks)
1 This is the additional reading for this unit. A copy of the document is available at https://www.imanet.org/insights-and-trends/business-
leadership-and-ethics/ima-statement-of-ethical-professional-practice
Page 5 of 9
Question 2
Deliziosa Purea & Succhi (DP&S) has a whole plant for processing tomatoes. The plant processes tomatoes into
tomato sauce, tomato paste, and tomato puree. As part of the cost planning and cost control of operations
and activities, FUI is currently reviewing the gross-margin percentage of each of its products, using the
estimated net realisable value (NRV) method for allocating joint costs. The company processes tomatoes in
Department #1, out of which come three products: tomato sauce, tomato paste, and tomato puree. Processing
700,000 kg in Department #1 results in 80,000 kg of tomato sauce, 100,000 kg of tomato paste and 20,000 kg
of tomato puree, and the costs in Department #1 are $200,000 in total.
Tomato paste is sold without further processing. Tomato sauce is processed further through Department #2
and the costs are $10,000. Tomato puree is considered a by-product and is processed further through
Department #3 and the costs are $5,000. Tomato sauce sells for $5 per kg, tomato paste sells for $3 per kg,
and tomato puree sells for $1 per kg.
Required
a) Calculate the gross-margin percentage of each product using unit costs per kilogram for tomato sauce,
tomato paste, and tomato puree, treating tomato puree as a by-product. Deduct the estimated NRV
of the by-product produced from the joint cost of tomato sauce and tomato paste. (e.g., Exercise 6.15,
Chapter 6, 10 marks)
b) Calculate the gross-margin percentage of each product using unit costs per kilogram for tomato sauce,
tomato paste, and tomato puree, treating all three as joint products. (e.g., Exercise 6.15, Chapter 6,
10 marks)
Question 3
Deliziosa Purea & Succhi (DP&S) has a department specialised in two products (juice and puree) from a joint
process using fruits. The joint cost of production is $30,000. A total of 6,000 units of juice can be sold at split-
off for $18 per unit or processed further as juice plus at an additional cost of $23,000 and sold for $21 per unit.
A total of 8,000 units of puree can be sold at split-off for $16 per unit or processed further as puree plus at an
additional cost of $15,000 and sold for $17 per unit.
Required
a) What is the difference in profit if the company decides to process further the juice, instead of selling
it at split-off? (e.g., Sell or process further, Chapter 6, 5 marks)
b) What is the difference in profit if the company decides to process further the puree, instead of selling
it at split-off? (e.g., Sell or process further, Chapter 6, 5 marks)
c) How does a reduction on the joint cost of production from $30,000 to $20,000 influences the decision
whether to process further the juice and the puree instead of selling them at split-off? Justify your
answer. (e.g., Sell or process further, Chapter 6, 10 marks)
Question 4
Regarding the manufacture of standard scooters at Monopattino Veloce (MV), the standard costs per unit
being variable manufacturing $8, fixed manufacturing $5. Selling and administrative costs are $3 per unit sold.
Page 6 of 9
The selling price is $19 per unit. Actual and budgeted overhead are the same for the year. Information about
the company production activity for the year is:
Sales 140,000 units
Units produced 155,000 units
Beginning Inventory 1,000 units
As part of the company cost planning and cost control of operations and activities, FIU is now reviewing its
production activity and the potential impact of different stock-costing methods.
Required
a) What is the value of closing inventory of finished goods under absorption costing? (Chapter 7, 10
marks).
b) What is the difference in profit between absorption and variable costing and, for this specific year for
this company, which of the two stock-costing methods has the higher profit and why? (Chapter 7, 10
marks)
Question 5
You have been assigned for reviewing the actual and budgeted figures of the variable manufacturing overhead
of standard scooters at Monopattino Veloce (MV). The management at MV argues there are no evident issues
with the variable manufacturing overhead budget as the static-budget variance is often favourable, which
proves the budgeting process works quite well. The management at MV also argues the employees at the
production line of standard scooters are always highly efficient because of the consistently favourable
efficiency variances.
Your analysis is for a specific month of the year, comparing the budgeted and actual figures. The variable
manufacturing overhead cost is allocated to each standard scooter based on budgeted direct manufacturing
labour-hours per standard scooter. For the specific month of the year, each standard scooter is budgeted to
take 5 labour-hours. Budgeted variable manufacturing overhead cost per labour-hour is $20. The budgeted
number of standard scooters to be manufactured in this given month is 90.
Actual variable manufacturing overhead costs in the given month were $11,500 for 100 standard scooters
started and completed. There was no opening or closing stock. Actual direct manufacturing labour-hours for
this given month were 490.
Required
a) Calculate the static-budget variance, the flexible-budget variance, the sales-volume variance and the
spending and efficiency variances for the given month for the variable manufacturing overhead. (e.g.,
Exercise 16.11, Chapter 16, 10 marks)
b) Explain whether the management is correct or not regarding having a good budgeting process due to
often having a favourable static-budget variance and a consistently favourable efficiency variance. Use
your calculations for supporting your argument. (Chapter 16, 10 marks)
Page 7 of 9
Question 6
Monopattino Veloce (MV) has a division of electric scooters which can produce two different types of scooters,
the Monopattino Elettrico Veloce (MEV), which is faster, and the Monopattino Elettrico Economico (MEE),
which has a longest-lasting battery. There is a question regarding how much should the company produce of
each product.
Table 1 – Scooters Production
Per batch MEV MEE
Sales price $2.00 $5.00
Variable expenses $0.50 $3.00
Contribution margin $1.50 $2.00
Contribution margin ratio 75% 40%
You are analysing the product-mix options under specific capacity constraints: one batch of MEV requires 6
machine hours and one batch of MEE requires 8 machine hours; the company has 15,000 machine hours
available to produce these products.
Required
How many of each batch should Monopattino Veloce (MV) produce for maximizing the profit of the division
of electric scooters and why? Use your calculations for supporting your argument and showing the maximum
contribution margin (i.e., total revenues minus variable expenses) the division of electric scooters can achieve.
(Product-mix decisions under capacity constraints, 10 marks)
Criteria N N P C D HD
2 4 6 7 8 10
Q1: Ethics, ULO1,
GLO1 (10 marks)
Not able to list the
ethical standards or
justify why the
standards are being
jeopardized and how
mitigating the risk.
Not correctly list the
ethical standards or
justify why the
standards are being
jeopardized and how
mitigating the risk.
List some of the
ethical standards or
justify why these
standards are being
jeopardized and how
mitigating the risk.
List the ethical
standards and
partially justify why
the standards are
being jeopardized
and how mitigating
the risk.
List the ethical
standards and
justify why the
standards are being
jeopardized and
how mitigating the
risk.
Clearly and succinctly list
the ethical standards and
justify why the standards
are being jeopardized and
how mitigating the risk.
4 10 14 16 19 25
Q2a-c: Joint costs
and by-products,
ULO4, GLO2 (25
marks)
Not able to calculate
and analyse the joint
costs and by-
products.
Not able to properly
calculate and analyse
the joint costs and
by-products.
Partially calculate
and analyse the joint
costs and by-
products.
Mostly calculate and
analyse the joint
costs and by-
products.
Calculate and
analyse the joint
costs and by-
products.
Calculate and analyse the
joint costs and by-
products in a clearly and
succinctly way, supporting
your answer with sound
information.
2 6 8 10 11 15
Q3: Sell or
process further,
ULO2, GLO1 (15
marks)
Not able to examine
costs regarding sell
or process further.
Not able to properly
examine costs
regarding sell or
process further.
Partially examine
costs regarding sell
or process further.
Calculate and
examine most of the
cost regarding sell or
process further.
Calculate and
examine the costs
regarding sell or
process further.
Calculate and examine
the costs regarding sell or
process further a clearly
and succinctly way,
supporting your answer
with sound information.
3 8 11 13 15 20
Q4: Alternative
stock-costing
methods, ULO3,
GLO1 & GLO5 (20
marks)
Not able to calculate
the inventory and
the difference in
profit.
Not able to properly
calculate the
inventory and the
difference in profit.
Partially calculate
the inventory or the
difference in profit.
Calculate most of the
inventory and the
difference in profit.
Calculate the
inventory and the
difference in profit.
Calculate the inventory
and assess the difference
in profit in clearly and
succinctly way, supporting
your answer with sound
information.
3 8 11 13 15 20
Q5: Flexible
budget, ULO2,
GLO1 (20 marks)
Not able to calculate
and comment on the
variance.
Not able to properly
calculate and
Partially calculate
and comment on the
variance.
Calculate and
comment on most of
the variance.
Calculate and
comment on the
variance.
Calculate and comment
on the variance in a
clearly and succinctly
Page 9 of 9
Criteria N N P C D HD
comment on the
variance.
way, supporting your
answer with sound
information.
2 4 6 7 8 10
Q6: Capacity
constraints,
ULO2, GLO1 &
GLO5 (10 marks)
Not able to calculate
and comment on the
product-mix
decisions under
capacity constraints.
Not able to properly
calculate and
comment on the
product-mix
decisions under
capacity constraints.
Partially calculate
and comment on the
product-mix
decisions under
capacity constraints.
Calculate and
comment on most of
the product-mix
decisions under
capacity constraints.
Calculate and
comment on the
product-mix
decisions under
capacity constraints.
Calculate and comment
on the product-mix
decisions under capacity
constraints in a clearly
and succinctly way,
supporting your answer
with sound information.
0-29% 30-49% 50-59% 60-69% 70-79% 80-100%
For example, ‘Jones_Barry_123456789_ABC123.doc’.
Submitting a hard copy of this assignment is not required. You must keep a backup copy of every
assignment you submit, until the marked assignment has been returned to you. In the unlikely event
that one of your assignments is misplaced, you will need to submit your backup copy.
Any work you submit may be checked by electronic or other means for the purposes of detecting
collusion and/or plagiarism. When you submit an assignment through your CloudDeakin unit site, you
will receive an email to your Deakin email address confirming that it has been submitted. You should
check that you can see your assignment in the Submissions view of the Assignment Dropbox folder after
upload, and check for, and keep, the email receipt for the submission.
Marking and feedback
The marking rubric for this task is below and also available in the MAA262 CloudDeakin unit site - in the
Assessment folder (under Assessment Resources).
It is always a useful exercise to familiarise yourself with the criteria before completing any assessment
task. Criteria act as a boundary around the task and help identify what assessors are looking for
specifically in your submission. The criteria are drawn from the unit’s learning outcomes ensuring they
align with appropriate graduate attribute/s. Identifying the standard you aim to achieve is also a useful
strategy for success and to that end, familiarising yourself with the descriptor for that standard is highly
recommended.
Students who submit their work by the due date will receive their marks and feedback on CloudDeakin
15 working days after the submission date.
Extensions
Extensions will only be granted for exceptional and/or unavoidable circumstances outside the student’s
control.
Page 3 of 9
Students seeking an extension for an assignment prior to the due date should apply directly to the Unit
Chair by completing the Assignment and Online Test Extension Application Form. Requests for extensions will
not be considered after 12 noon on the due date. Applications for special consideration after the due date
must be submitted via StudentConnect.
Late submission
The following marking penalties will apply if you submit an assessment task after the due date without an
approved extension: 5% will be deducted from available marks for each day up to five days, and work that is
submitted more than five days after the due date will not be marked and will receive 0% for the task.
'Day' means working day for paper submissions and calendar day for electronic submissions. The Unit Chair
may refuse to accept a late submission where it is unreasonable or impracticable to assess the task after the
due date.
Calculation of the late penalty is as follows:
• 1 day late: submitted after Friday 11:59 pm and before Saturday 11:59 pm – 5% penalty.
• 2 days late: submitted after Saturday 11:59 pm and before Sunday11:59 pm – 10% penalty.
• 3 days late: submitted after Sunday 11:59 pm and before Monday 11:59 pm – 15% penalty.
• 4 days late: submitted after Monday 11:59 pm and before Tuesday 11:59 pm – 20% penalty.
• 5 days late: submitted after Tuesday 11:59 pm and before Wednesday 11:59 pm – 25% penalty.
Dropbox closes the Wednesday after 11:59 pm AEST time.
Support
The Division of Student Life (see link below) provides all students with editing assistance. Students who wish
to take advantage of this service must be organized and plan ahead and contact the Division of Student Life in
order to schedule a booking, well in advance of the due date of this assignment.
http://www.deakin.edu.au/about-deakin/administrative-divisions/student-life
Referencing
Any material used in this assignment that is not your original work must be acknowledged as such and
appropriately referenced. You can find information about plagiarism and other study support resources at the
following website: http://www.deakin.edu.au/students/study-support
Use the Harvard style of referencing. More information regarding referencing styles at
https://www.deakin.edu.au/students/studying/study-support/referencing
There is no such thing as a minimum or maximum amount of references to be used in this assignment, and
references should be used only when required. If a question requires research for answering, check the
guidelines available on the academic skills study support page:
http://www.deakin.edu.au/students/studying/study-support/academic-skills
Academic misconduct
For information about academic misconduct, special consideration, extensions, and assessment feedback,
please refer to the document Your rights and responsibilities as a student in this Unit in the first folder next
to the Unit Guide in the Resources area of the CloudDeakin unit site.
Page 4 of 9
Fluffy Unicorn Investments (FUI)
You are an intern working for FUI, a large venture capital firm in Adelaide which does regular due diligences.
Among other regular clients, FUI has done due diligences for Deliziosa Purea & Succhi (DP&S) and Monopattino
Veloce (MV).
For the sake of simplicity, this assignment does not consider taxes and other fees and whenever possible
support your arguments with your calculations.
For the assignment you will be required to answers questions regarding topics which were not taught yet
during the trimester. Whereas some units require students to do some research, which often means searching
in academic books and journals for a suitable solution for the matter discussed, in this unit you must study
parts of the textbook which were not taught yet.
Regarding how answering the questions, please note there is a choice for quality over quantity. This means
most questions are complex but do not require wordy answers. Instead of asking students to define a concept,
often the request is for students to apply a concept to the specific case of the assignment and supporting it
with your own calculations using the data provided on the assignment. When preparing your answers, please
break down the information as much as you can. Please classify apart the items (i.e., break down the items)
because if you are providing the total amounts and they are incorrect, you get zero marks, whereas if you
provide the breakdown and some of items are correct, you can get some marks. Keep in mind you are not
preparing reports for financial accounting, so break down the cost items as much as possible.
Question 1
One of your colleagues at FUI named Jane is concerned whether what she has done something wrong or not
at work. Jane is a management accountant working at FUI, and one of Jane’s close family members owns a
small company, Company Z, which provides service to FUI. When preparing the performance report for the
service providers, Jane noticed Company Z was underperforming, and it was likely to have its contract
terminated by FUI. Before finalising the performance report, Jane calls her relative and tells him regarding the
report she is preparing, and the risk Company Z might have its contract terminated. She also tells her relative
what the other service providers are doing for avoiding being underperforming and keeping their contracts
with FUI.
Required
Please state two of the ethical standards, as provided by the Institute of Management Accountants (IMA)
Statement of Ethical Professional Practice1, which are being jeopardized and justify why these two standards
are being jeopardized. Please explain how Jane could help her relative without jeopardizing these two ethical
standards. (For an answer with more than two ethical standards the first two standards will be marked, and
the remainder will be ignored). (Chapter 1, 10 marks)
1 This is the additional reading for this unit. A copy of the document is available at https://www.imanet.org/insights-and-trends/business-
leadership-and-ethics/ima-statement-of-ethical-professional-practice
Page 5 of 9
Question 2
Deliziosa Purea & Succhi (DP&S) has a whole plant for processing tomatoes. The plant processes tomatoes into
tomato sauce, tomato paste, and tomato puree. As part of the cost planning and cost control of operations
and activities, FUI is currently reviewing the gross-margin percentage of each of its products, using the
estimated net realisable value (NRV) method for allocating joint costs. The company processes tomatoes in
Department #1, out of which come three products: tomato sauce, tomato paste, and tomato puree. Processing
700,000 kg in Department #1 results in 80,000 kg of tomato sauce, 100,000 kg of tomato paste and 20,000 kg
of tomato puree, and the costs in Department #1 are $200,000 in total.
Tomato paste is sold without further processing. Tomato sauce is processed further through Department #2
and the costs are $10,000. Tomato puree is considered a by-product and is processed further through
Department #3 and the costs are $5,000. Tomato sauce sells for $5 per kg, tomato paste sells for $3 per kg,
and tomato puree sells for $1 per kg.
Required
a) Calculate the gross-margin percentage of each product using unit costs per kilogram for tomato sauce,
tomato paste, and tomato puree, treating tomato puree as a by-product. Deduct the estimated NRV
of the by-product produced from the joint cost of tomato sauce and tomato paste. (e.g., Exercise 6.15,
Chapter 6, 10 marks)
b) Calculate the gross-margin percentage of each product using unit costs per kilogram for tomato sauce,
tomato paste, and tomato puree, treating all three as joint products. (e.g., Exercise 6.15, Chapter 6,
10 marks)
Question 3
Deliziosa Purea & Succhi (DP&S) has a department specialised in two products (juice and puree) from a joint
process using fruits. The joint cost of production is $30,000. A total of 6,000 units of juice can be sold at split-
off for $18 per unit or processed further as juice plus at an additional cost of $23,000 and sold for $21 per unit.
A total of 8,000 units of puree can be sold at split-off for $16 per unit or processed further as puree plus at an
additional cost of $15,000 and sold for $17 per unit.
Required
a) What is the difference in profit if the company decides to process further the juice, instead of selling
it at split-off? (e.g., Sell or process further, Chapter 6, 5 marks)
b) What is the difference in profit if the company decides to process further the puree, instead of selling
it at split-off? (e.g., Sell or process further, Chapter 6, 5 marks)
c) How does a reduction on the joint cost of production from $30,000 to $20,000 influences the decision
whether to process further the juice and the puree instead of selling them at split-off? Justify your
answer. (e.g., Sell or process further, Chapter 6, 10 marks)
Question 4
Regarding the manufacture of standard scooters at Monopattino Veloce (MV), the standard costs per unit
being variable manufacturing $8, fixed manufacturing $5. Selling and administrative costs are $3 per unit sold.
Page 6 of 9
The selling price is $19 per unit. Actual and budgeted overhead are the same for the year. Information about
the company production activity for the year is:
Sales 140,000 units
Units produced 155,000 units
Beginning Inventory 1,000 units
As part of the company cost planning and cost control of operations and activities, FIU is now reviewing its
production activity and the potential impact of different stock-costing methods.
Required
a) What is the value of closing inventory of finished goods under absorption costing? (Chapter 7, 10
marks).
b) What is the difference in profit between absorption and variable costing and, for this specific year for
this company, which of the two stock-costing methods has the higher profit and why? (Chapter 7, 10
marks)
Question 5
You have been assigned for reviewing the actual and budgeted figures of the variable manufacturing overhead
of standard scooters at Monopattino Veloce (MV). The management at MV argues there are no evident issues
with the variable manufacturing overhead budget as the static-budget variance is often favourable, which
proves the budgeting process works quite well. The management at MV also argues the employees at the
production line of standard scooters are always highly efficient because of the consistently favourable
efficiency variances.
Your analysis is for a specific month of the year, comparing the budgeted and actual figures. The variable
manufacturing overhead cost is allocated to each standard scooter based on budgeted direct manufacturing
labour-hours per standard scooter. For the specific month of the year, each standard scooter is budgeted to
take 5 labour-hours. Budgeted variable manufacturing overhead cost per labour-hour is $20. The budgeted
number of standard scooters to be manufactured in this given month is 90.
Actual variable manufacturing overhead costs in the given month were $11,500 for 100 standard scooters
started and completed. There was no opening or closing stock. Actual direct manufacturing labour-hours for
this given month were 490.
Required
a) Calculate the static-budget variance, the flexible-budget variance, the sales-volume variance and the
spending and efficiency variances for the given month for the variable manufacturing overhead. (e.g.,
Exercise 16.11, Chapter 16, 10 marks)
b) Explain whether the management is correct or not regarding having a good budgeting process due to
often having a favourable static-budget variance and a consistently favourable efficiency variance. Use
your calculations for supporting your argument. (Chapter 16, 10 marks)
Page 7 of 9
Question 6
Monopattino Veloce (MV) has a division of electric scooters which can produce two different types of scooters,
the Monopattino Elettrico Veloce (MEV), which is faster, and the Monopattino Elettrico Economico (MEE),
which has a longest-lasting battery. There is a question regarding how much should the company produce of
each product.
Table 1 – Scooters Production
Per batch MEV MEE
Sales price $2.00 $5.00
Variable expenses $0.50 $3.00
Contribution margin $1.50 $2.00
Contribution margin ratio 75% 40%
You are analysing the product-mix options under specific capacity constraints: one batch of MEV requires 6
machine hours and one batch of MEE requires 8 machine hours; the company has 15,000 machine hours
available to produce these products.
Required
How many of each batch should Monopattino Veloce (MV) produce for maximizing the profit of the division
of electric scooters and why? Use your calculations for supporting your argument and showing the maximum
contribution margin (i.e., total revenues minus variable expenses) the division of electric scooters can achieve.
(Product-mix decisions under capacity constraints, 10 marks)
Criteria N N P C D HD
2 4 6 7 8 10
Q1: Ethics, ULO1,
GLO1 (10 marks)
Not able to list the
ethical standards or
justify why the
standards are being
jeopardized and how
mitigating the risk.
Not correctly list the
ethical standards or
justify why the
standards are being
jeopardized and how
mitigating the risk.
List some of the
ethical standards or
justify why these
standards are being
jeopardized and how
mitigating the risk.
List the ethical
standards and
partially justify why
the standards are
being jeopardized
and how mitigating
the risk.
List the ethical
standards and
justify why the
standards are being
jeopardized and
how mitigating the
risk.
Clearly and succinctly list
the ethical standards and
justify why the standards
are being jeopardized and
how mitigating the risk.
4 10 14 16 19 25
Q2a-c: Joint costs
and by-products,
ULO4, GLO2 (25
marks)
Not able to calculate
and analyse the joint
costs and by-
products.
Not able to properly
calculate and analyse
the joint costs and
by-products.
Partially calculate
and analyse the joint
costs and by-
products.
Mostly calculate and
analyse the joint
costs and by-
products.
Calculate and
analyse the joint
costs and by-
products.
Calculate and analyse the
joint costs and by-
products in a clearly and
succinctly way, supporting
your answer with sound
information.
2 6 8 10 11 15
Q3: Sell or
process further,
ULO2, GLO1 (15
marks)
Not able to examine
costs regarding sell
or process further.
Not able to properly
examine costs
regarding sell or
process further.
Partially examine
costs regarding sell
or process further.
Calculate and
examine most of the
cost regarding sell or
process further.
Calculate and
examine the costs
regarding sell or
process further.
Calculate and examine
the costs regarding sell or
process further a clearly
and succinctly way,
supporting your answer
with sound information.
3 8 11 13 15 20
Q4: Alternative
stock-costing
methods, ULO3,
GLO1 & GLO5 (20
marks)
Not able to calculate
the inventory and
the difference in
profit.
Not able to properly
calculate the
inventory and the
difference in profit.
Partially calculate
the inventory or the
difference in profit.
Calculate most of the
inventory and the
difference in profit.
Calculate the
inventory and the
difference in profit.
Calculate the inventory
and assess the difference
in profit in clearly and
succinctly way, supporting
your answer with sound
information.
3 8 11 13 15 20
Q5: Flexible
budget, ULO2,
GLO1 (20 marks)
Not able to calculate
and comment on the
variance.
Not able to properly
calculate and
Partially calculate
and comment on the
variance.
Calculate and
comment on most of
the variance.
Calculate and
comment on the
variance.
Calculate and comment
on the variance in a
clearly and succinctly
Page 9 of 9
Criteria N N P C D HD
comment on the
variance.
way, supporting your
answer with sound
information.
2 4 6 7 8 10
Q6: Capacity
constraints,
ULO2, GLO1 &
GLO5 (10 marks)
Not able to calculate
and comment on the
product-mix
decisions under
capacity constraints.
Not able to properly
calculate and
comment on the
product-mix
decisions under
capacity constraints.
Partially calculate
and comment on the
product-mix
decisions under
capacity constraints.
Calculate and
comment on most of
the product-mix
decisions under
capacity constraints.
Calculate and
comment on the
product-mix
decisions under
capacity constraints.
Calculate and comment
on the product-mix
decisions under capacity
constraints in a clearly
and succinctly way,
supporting your answer
with sound information.
0-29% 30-49% 50-59% 60-69% 70-79% 80-100%
学霸联盟
Assessment Task 2 – Individual Assignment II
DUE DATE AND TIME: Week 9, 14/05/2021, by 8:00 pm (AEST)
PERCENTAGE OF FINAL GRADE: 20%
WORD COUNT: 2,000 words
Description
This assignment task will consolidate your understanding of some of the key concepts covered in this unit.
Please submit your answers to the questions in the order they are presented, clearly identifying on the
document which question is being addressed. As long as you are identifying which question is being addressed
you are not required to repeat the question on your assignment.
Your response should respond to all questions. The word limit is 2,000 words (maximum) in total, and words
limit includes headings, tables, references and appendices. Note that a contents page, cover page, and an
executive summary are not required. Regarding the formatting of the assignment, there is no specific
requirement regarding font, font size and line spacing. There is no minimum amount of words. Any word above
the limit of 2,000 will be penalised by 1 mark for each additional word, thus 2,010 words have a 10 marks
penalty, 2,020 words have a 20 marks penalty, and henceforth.
Please peruse the discussion forum as you may find the information you are looking for. If you are unable to
find the information regarding the individual assignment you are looking for, please contact the teaching team
by using the discussion forum on CloudDeakin. Contact via email with the unit chair or teaching team should
only be used for a personal and private matter.
Check your student identification for completing the correct assignment version:
VERSION A → Student identification finishing with 0, 1, 2, and 3.
VERSION B → Student identification finishing with 4, 5, and 6.
VERSION C → Student identification finishing with 7, 8, and 9.
Learning Outcomes
This task allows you to demonstrate achievement towards the unit learning outcomes. The ULOs are aligned
with specific graduate learning outcomes – that is, the skills and knowledge graduates are expected to have
upon completion of their studies – and this assessment task is an important tool in determining achievement
of those outcomes.
If you do not demonstrate achievement of the unit learning outcomes, you will not be successful in this unit.
It is good practice to familiarise yourself with the ULOs and GLOs as they provide guidance on the knowledge,
understanding and skills you are expected to demonstrate upon completion of the unit. In this way, they can
be used to guide your study.
Unit Learning Outcomes (ULO) Graduate Learning Outcomes (GLO)
Page 2 of 9
ULO1: Incorporate ethical factors into managerial accounting
decisions.
GLO1
ULO2: Apply cost and budget concepts to the organisation’s
planning, control and management accounting decisions.
GLO1
ULO3: Analyse and evaluate performance measures and link
to organisational strategy.
GLO1 and GLO5
ULO4: Communicate management accounting concepts and
use appropriate technology to provide information to
relevant stakeholders.
GLO2
Submission
You are to submit your assignment in the individual Assignment Dropbox in the MAA262 CloudDeakin unit site
on or before the due date. When uploading your assignment, name your document using the following syntax:
Submitting a hard copy of this assignment is not required. You must keep a backup copy of every
assignment you submit, until the marked assignment has been returned to you. In the unlikely event
that one of your assignments is misplaced, you will need to submit your backup copy.
Any work you submit may be checked by electronic or other means for the purposes of detecting
collusion and/or plagiarism. When you submit an assignment through your CloudDeakin unit site, you
will receive an email to your Deakin email address confirming that it has been submitted. You should
check that you can see your assignment in the Submissions view of the Assignment Dropbox folder after
upload, and check for, and keep, the email receipt for the submission.
Marking and feedback
The marking rubric for this task is below and also available in the MAA262 CloudDeakin unit site - in the
Assessment folder (under Assessment Resources).
It is always a useful exercise to familiarise yourself with the criteria before completing any assessment
task. Criteria act as a boundary around the task and help identify what assessors are looking for
specifically in your submission. The criteria are drawn from the unit’s learning outcomes ensuring they
align with appropriate graduate attribute/s. Identifying the standard you aim to achieve is also a useful
strategy for success and to that end, familiarising yourself with the descriptor for that standard is highly
recommended.
Students who submit their work by the due date will receive their marks and feedback on CloudDeakin
15 working days after the submission date.
Extensions
Extensions will only be granted for exceptional and/or unavoidable circumstances outside the student’s
control.
Page 3 of 9
Students seeking an extension for an assignment prior to the due date should apply directly to the Unit
Chair by completing the Assignment and Online Test Extension Application Form. Requests for extensions will
not be considered after 12 noon on the due date. Applications for special consideration after the due date
must be submitted via StudentConnect.
Late submission
The following marking penalties will apply if you submit an assessment task after the due date without an
approved extension: 5% will be deducted from available marks for each day up to five days, and work that is
submitted more than five days after the due date will not be marked and will receive 0% for the task.
'Day' means working day for paper submissions and calendar day for electronic submissions. The Unit Chair
may refuse to accept a late submission where it is unreasonable or impracticable to assess the task after the
due date.
Calculation of the late penalty is as follows:
• 1 day late: submitted after Friday 11:59 pm and before Saturday 11:59 pm – 5% penalty.
• 2 days late: submitted after Saturday 11:59 pm and before Sunday11:59 pm – 10% penalty.
• 3 days late: submitted after Sunday 11:59 pm and before Monday 11:59 pm – 15% penalty.
• 4 days late: submitted after Monday 11:59 pm and before Tuesday 11:59 pm – 20% penalty.
• 5 days late: submitted after Tuesday 11:59 pm and before Wednesday 11:59 pm – 25% penalty.
Dropbox closes the Wednesday after 11:59 pm AEST time.
Support
The Division of Student Life (see link below) provides all students with editing assistance. Students who wish
to take advantage of this service must be organized and plan ahead and contact the Division of Student Life in
order to schedule a booking, well in advance of the due date of this assignment.
http://www.deakin.edu.au/about-deakin/administrative-divisions/student-life
Referencing
Any material used in this assignment that is not your original work must be acknowledged as such and
appropriately referenced. You can find information about plagiarism and other study support resources at the
following website: http://www.deakin.edu.au/students/study-support
Use the Harvard style of referencing. More information regarding referencing styles at
https://www.deakin.edu.au/students/studying/study-support/referencing
There is no such thing as a minimum or maximum amount of references to be used in this assignment, and
references should be used only when required. If a question requires research for answering, check the
guidelines available on the academic skills study support page:
http://www.deakin.edu.au/students/studying/study-support/academic-skills
Academic misconduct
For information about academic misconduct, special consideration, extensions, and assessment feedback,
please refer to the document Your rights and responsibilities as a student in this Unit in the first folder next
to the Unit Guide in the Resources area of the CloudDeakin unit site.
Page 4 of 9
Fluffy Unicorn Investments (FUI)
You are an intern working for FUI, a large venture capital firm in Adelaide which does regular due diligences.
Among other regular clients, FUI has done due diligences for Deliziosa Purea & Succhi (DP&S) and Monopattino
Veloce (MV).
For the sake of simplicity, this assignment does not consider taxes and other fees and whenever possible
support your arguments with your calculations.
For the assignment you will be required to answers questions regarding topics which were not taught yet
during the trimester. Whereas some units require students to do some research, which often means searching
in academic books and journals for a suitable solution for the matter discussed, in this unit you must study
parts of the textbook which were not taught yet.
Regarding how answering the questions, please note there is a choice for quality over quantity. This means
most questions are complex but do not require wordy answers. Instead of asking students to define a concept,
often the request is for students to apply a concept to the specific case of the assignment and supporting it
with your own calculations using the data provided on the assignment. When preparing your answers, please
break down the information as much as you can. Please classify apart the items (i.e., break down the items)
because if you are providing the total amounts and they are incorrect, you get zero marks, whereas if you
provide the breakdown and some of items are correct, you can get some marks. Keep in mind you are not
preparing reports for financial accounting, so break down the cost items as much as possible.
Question 1
One of your colleagues at FUI named Jane is concerned whether what she has done something wrong or not
at work. Jane is a management accountant working at FUI, and one of Jane’s close family members owns a
small company, Company Z, which provides service to FUI. When preparing the performance report for the
service providers, Jane noticed Company Z was underperforming, and it was likely to have its contract
terminated by FUI. Before finalising the performance report, Jane calls her relative and tells him regarding the
report she is preparing, and the risk Company Z might have its contract terminated. She also tells her relative
what the other service providers are doing for avoiding being underperforming and keeping their contracts
with FUI.
Required
Please state two of the ethical standards, as provided by the Institute of Management Accountants (IMA)
Statement of Ethical Professional Practice1, which are being jeopardized and justify why these two standards
are being jeopardized. Please explain how Jane could help her relative without jeopardizing these two ethical
standards. (For an answer with more than two ethical standards the first two standards will be marked, and
the remainder will be ignored). (Chapter 1, 10 marks)
1 This is the additional reading for this unit. A copy of the document is available at https://www.imanet.org/insights-and-trends/business-
leadership-and-ethics/ima-statement-of-ethical-professional-practice
Page 5 of 9
Question 2
Deliziosa Purea & Succhi (DP&S) has a whole plant for processing tomatoes. The plant processes tomatoes into
tomato sauce, tomato paste, and tomato puree. As part of the cost planning and cost control of operations
and activities, FUI is currently reviewing the gross-margin percentage of each of its products, using the
estimated net realisable value (NRV) method for allocating joint costs. The company processes tomatoes in
Department #1, out of which come three products: tomato sauce, tomato paste, and tomato puree. Processing
700,000 kg in Department #1 results in 80,000 kg of tomato sauce, 100,000 kg of tomato paste and 20,000 kg
of tomato puree, and the costs in Department #1 are $200,000 in total.
Tomato paste is sold without further processing. Tomato sauce is processed further through Department #2
and the costs are $10,000. Tomato puree is considered a by-product and is processed further through
Department #3 and the costs are $5,000. Tomato sauce sells for $5 per kg, tomato paste sells for $3 per kg,
and tomato puree sells for $1 per kg.
Required
a) Calculate the gross-margin percentage of each product using unit costs per kilogram for tomato sauce,
tomato paste, and tomato puree, treating tomato puree as a by-product. Deduct the estimated NRV
of the by-product produced from the joint cost of tomato sauce and tomato paste. (e.g., Exercise 6.15,
Chapter 6, 10 marks)
b) Calculate the gross-margin percentage of each product using unit costs per kilogram for tomato sauce,
tomato paste, and tomato puree, treating all three as joint products. (e.g., Exercise 6.15, Chapter 6,
10 marks)
Question 3
Deliziosa Purea & Succhi (DP&S) has a department specialised in two products (juice and puree) from a joint
process using fruits. The joint cost of production is $30,000. A total of 6,000 units of juice can be sold at split-
off for $18 per unit or processed further as juice plus at an additional cost of $23,000 and sold for $21 per unit.
A total of 8,000 units of puree can be sold at split-off for $16 per unit or processed further as puree plus at an
additional cost of $15,000 and sold for $17 per unit.
Required
a) What is the difference in profit if the company decides to process further the juice, instead of selling
it at split-off? (e.g., Sell or process further, Chapter 6, 5 marks)
b) What is the difference in profit if the company decides to process further the puree, instead of selling
it at split-off? (e.g., Sell or process further, Chapter 6, 5 marks)
c) How does a reduction on the joint cost of production from $30,000 to $20,000 influences the decision
whether to process further the juice and the puree instead of selling them at split-off? Justify your
answer. (e.g., Sell or process further, Chapter 6, 10 marks)
Question 4
Regarding the manufacture of standard scooters at Monopattino Veloce (MV), the standard costs per unit
being variable manufacturing $8, fixed manufacturing $5. Selling and administrative costs are $3 per unit sold.
Page 6 of 9
The selling price is $19 per unit. Actual and budgeted overhead are the same for the year. Information about
the company production activity for the year is:
Sales 140,000 units
Units produced 155,000 units
Beginning Inventory 1,000 units
As part of the company cost planning and cost control of operations and activities, FIU is now reviewing its
production activity and the potential impact of different stock-costing methods.
Required
a) What is the value of closing inventory of finished goods under absorption costing? (Chapter 7, 10
marks).
b) What is the difference in profit between absorption and variable costing and, for this specific year for
this company, which of the two stock-costing methods has the higher profit and why? (Chapter 7, 10
marks)
Question 5
You have been assigned for reviewing the actual and budgeted figures of the variable manufacturing overhead
of standard scooters at Monopattino Veloce (MV). The management at MV argues there are no evident issues
with the variable manufacturing overhead budget as the static-budget variance is often favourable, which
proves the budgeting process works quite well. The management at MV also argues the employees at the
production line of standard scooters are always highly efficient because of the consistently favourable
efficiency variances.
Your analysis is for a specific month of the year, comparing the budgeted and actual figures. The variable
manufacturing overhead cost is allocated to each standard scooter based on budgeted direct manufacturing
labour-hours per standard scooter. For the specific month of the year, each standard scooter is budgeted to
take 5 labour-hours. Budgeted variable manufacturing overhead cost per labour-hour is $20. The budgeted
number of standard scooters to be manufactured in this given month is 90.
Actual variable manufacturing overhead costs in the given month were $11,500 for 100 standard scooters
started and completed. There was no opening or closing stock. Actual direct manufacturing labour-hours for
this given month were 490.
Required
a) Calculate the static-budget variance, the flexible-budget variance, the sales-volume variance and the
spending and efficiency variances for the given month for the variable manufacturing overhead. (e.g.,
Exercise 16.11, Chapter 16, 10 marks)
b) Explain whether the management is correct or not regarding having a good budgeting process due to
often having a favourable static-budget variance and a consistently favourable efficiency variance. Use
your calculations for supporting your argument. (Chapter 16, 10 marks)
Page 7 of 9
Question 6
Monopattino Veloce (MV) has a division of electric scooters which can produce two different types of scooters,
the Monopattino Elettrico Veloce (MEV), which is faster, and the Monopattino Elettrico Economico (MEE),
which has a longest-lasting battery. There is a question regarding how much should the company produce of
each product.
Table 1 – Scooters Production
Per batch MEV MEE
Sales price $2.00 $5.00
Variable expenses $0.50 $3.00
Contribution margin $1.50 $2.00
Contribution margin ratio 75% 40%
You are analysing the product-mix options under specific capacity constraints: one batch of MEV requires 6
machine hours and one batch of MEE requires 8 machine hours; the company has 15,000 machine hours
available to produce these products.
Required
How many of each batch should Monopattino Veloce (MV) produce for maximizing the profit of the division
of electric scooters and why? Use your calculations for supporting your argument and showing the maximum
contribution margin (i.e., total revenues minus variable expenses) the division of electric scooters can achieve.
(Product-mix decisions under capacity constraints, 10 marks)
Criteria N N P C D HD
2 4 6 7 8 10
Q1: Ethics, ULO1,
GLO1 (10 marks)
Not able to list the
ethical standards or
justify why the
standards are being
jeopardized and how
mitigating the risk.
Not correctly list the
ethical standards or
justify why the
standards are being
jeopardized and how
mitigating the risk.
List some of the
ethical standards or
justify why these
standards are being
jeopardized and how
mitigating the risk.
List the ethical
standards and
partially justify why
the standards are
being jeopardized
and how mitigating
the risk.
List the ethical
standards and
justify why the
standards are being
jeopardized and
how mitigating the
risk.
Clearly and succinctly list
the ethical standards and
justify why the standards
are being jeopardized and
how mitigating the risk.
4 10 14 16 19 25
Q2a-c: Joint costs
and by-products,
ULO4, GLO2 (25
marks)
Not able to calculate
and analyse the joint
costs and by-
products.
Not able to properly
calculate and analyse
the joint costs and
by-products.
Partially calculate
and analyse the joint
costs and by-
products.
Mostly calculate and
analyse the joint
costs and by-
products.
Calculate and
analyse the joint
costs and by-
products.
Calculate and analyse the
joint costs and by-
products in a clearly and
succinctly way, supporting
your answer with sound
information.
2 6 8 10 11 15
Q3: Sell or
process further,
ULO2, GLO1 (15
marks)
Not able to examine
costs regarding sell
or process further.
Not able to properly
examine costs
regarding sell or
process further.
Partially examine
costs regarding sell
or process further.
Calculate and
examine most of the
cost regarding sell or
process further.
Calculate and
examine the costs
regarding sell or
process further.
Calculate and examine
the costs regarding sell or
process further a clearly
and succinctly way,
supporting your answer
with sound information.
3 8 11 13 15 20
Q4: Alternative
stock-costing
methods, ULO3,
GLO1 & GLO5 (20
marks)
Not able to calculate
the inventory and
the difference in
profit.
Not able to properly
calculate the
inventory and the
difference in profit.
Partially calculate
the inventory or the
difference in profit.
Calculate most of the
inventory and the
difference in profit.
Calculate the
inventory and the
difference in profit.
Calculate the inventory
and assess the difference
in profit in clearly and
succinctly way, supporting
your answer with sound
information.
3 8 11 13 15 20
Q5: Flexible
budget, ULO2,
GLO1 (20 marks)
Not able to calculate
and comment on the
variance.
Not able to properly
calculate and
Partially calculate
and comment on the
variance.
Calculate and
comment on most of
the variance.
Calculate and
comment on the
variance.
Calculate and comment
on the variance in a
clearly and succinctly
Page 9 of 9
Criteria N N P C D HD
comment on the
variance.
way, supporting your
answer with sound
information.
2 4 6 7 8 10
Q6: Capacity
constraints,
ULO2, GLO1 &
GLO5 (10 marks)
Not able to calculate
and comment on the
product-mix
decisions under
capacity constraints.
Not able to properly
calculate and
comment on the
product-mix
decisions under
capacity constraints.
Partially calculate
and comment on the
product-mix
decisions under
capacity constraints.
Calculate and
comment on most of
the product-mix
decisions under
capacity constraints.
Calculate and
comment on the
product-mix
decisions under
capacity constraints.
Calculate and comment
on the product-mix
decisions under capacity
constraints in a clearly
and succinctly way,
supporting your answer
with sound information.
0-29% 30-49% 50-59% 60-69% 70-79% 80-100%
Submitting a hard copy of this assignment is not required. You must keep a backup copy of every
assignment you submit, until the marked assignment has been returned to you. In the unlikely event
that one of your assignments is misplaced, you will need to submit your backup copy.
Any work you submit may be checked by electronic or other means for the purposes of detecting
collusion and/or plagiarism. When you submit an assignment through your CloudDeakin unit site, you
will receive an email to your Deakin email address confirming that it has been submitted. You should
check that you can see your assignment in the Submissions view of the Assignment Dropbox folder after
upload, and check for, and keep, the email receipt for the submission.
Marking and feedback
The marking rubric for this task is below and also available in the MAA262 CloudDeakin unit site - in the
Assessment folder (under Assessment Resources).
It is always a useful exercise to familiarise yourself with the criteria before completing any assessment
task. Criteria act as a boundary around the task and help identify what assessors are looking for
specifically in your submission. The criteria are drawn from the unit’s learning outcomes ensuring they
align with appropriate graduate attribute/s. Identifying the standard you aim to achieve is also a useful
strategy for success and to that end, familiarising yourself with the descriptor for that standard is highly
recommended.
Students who submit their work by the due date will receive their marks and feedback on CloudDeakin
15 working days after the submission date.
Extensions
Extensions will only be granted for exceptional and/or unavoidable circumstances outside the student’s
control.
Page 3 of 9
Students seeking an extension for an assignment prior to the due date should apply directly to the Unit
Chair by completing the Assignment and Online Test Extension Application Form. Requests for extensions will
not be considered after 12 noon on the due date. Applications for special consideration after the due date
must be submitted via StudentConnect.
Late submission
The following marking penalties will apply if you submit an assessment task after the due date without an
approved extension: 5% will be deducted from available marks for each day up to five days, and work that is
submitted more than five days after the due date will not be marked and will receive 0% for the task.
'Day' means working day for paper submissions and calendar day for electronic submissions. The Unit Chair
may refuse to accept a late submission where it is unreasonable or impracticable to assess the task after the
due date.
Calculation of the late penalty is as follows:
• 1 day late: submitted after Friday 11:59 pm and before Saturday 11:59 pm – 5% penalty.
• 2 days late: submitted after Saturday 11:59 pm and before Sunday11:59 pm – 10% penalty.
• 3 days late: submitted after Sunday 11:59 pm and before Monday 11:59 pm – 15% penalty.
• 4 days late: submitted after Monday 11:59 pm and before Tuesday 11:59 pm – 20% penalty.
• 5 days late: submitted after Tuesday 11:59 pm and before Wednesday 11:59 pm – 25% penalty.
Dropbox closes the Wednesday after 11:59 pm AEST time.
Support
The Division of Student Life (see link below) provides all students with editing assistance. Students who wish
to take advantage of this service must be organized and plan ahead and contact the Division of Student Life in
order to schedule a booking, well in advance of the due date of this assignment.
http://www.deakin.edu.au/about-deakin/administrative-divisions/student-life
Referencing
Any material used in this assignment that is not your original work must be acknowledged as such and
appropriately referenced. You can find information about plagiarism and other study support resources at the
following website: http://www.deakin.edu.au/students/study-support
Use the Harvard style of referencing. More information regarding referencing styles at
https://www.deakin.edu.au/students/studying/study-support/referencing
There is no such thing as a minimum or maximum amount of references to be used in this assignment, and
references should be used only when required. If a question requires research for answering, check the
guidelines available on the academic skills study support page:
http://www.deakin.edu.au/students/studying/study-support/academic-skills
Academic misconduct
For information about academic misconduct, special consideration, extensions, and assessment feedback,
please refer to the document Your rights and responsibilities as a student in this Unit in the first folder next
to the Unit Guide in the Resources area of the CloudDeakin unit site.
Page 4 of 9
Fluffy Unicorn Investments (FUI)
You are an intern working for FUI, a large venture capital firm in Adelaide which does regular due diligences.
Among other regular clients, FUI has done due diligences for Deliziosa Purea & Succhi (DP&S) and Monopattino
Veloce (MV).
For the sake of simplicity, this assignment does not consider taxes and other fees and whenever possible
support your arguments with your calculations.
For the assignment you will be required to answers questions regarding topics which were not taught yet
during the trimester. Whereas some units require students to do some research, which often means searching
in academic books and journals for a suitable solution for the matter discussed, in this unit you must study
parts of the textbook which were not taught yet.
Regarding how answering the questions, please note there is a choice for quality over quantity. This means
most questions are complex but do not require wordy answers. Instead of asking students to define a concept,
often the request is for students to apply a concept to the specific case of the assignment and supporting it
with your own calculations using the data provided on the assignment. When preparing your answers, please
break down the information as much as you can. Please classify apart the items (i.e., break down the items)
because if you are providing the total amounts and they are incorrect, you get zero marks, whereas if you
provide the breakdown and some of items are correct, you can get some marks. Keep in mind you are not
preparing reports for financial accounting, so break down the cost items as much as possible.
Question 1
One of your colleagues at FUI named Jane is concerned whether what she has done something wrong or not
at work. Jane is a management accountant working at FUI, and one of Jane’s close family members owns a
small company, Company Z, which provides service to FUI. When preparing the performance report for the
service providers, Jane noticed Company Z was underperforming, and it was likely to have its contract
terminated by FUI. Before finalising the performance report, Jane calls her relative and tells him regarding the
report she is preparing, and the risk Company Z might have its contract terminated. She also tells her relative
what the other service providers are doing for avoiding being underperforming and keeping their contracts
with FUI.
Required
Please state two of the ethical standards, as provided by the Institute of Management Accountants (IMA)
Statement of Ethical Professional Practice1, which are being jeopardized and justify why these two standards
are being jeopardized. Please explain how Jane could help her relative without jeopardizing these two ethical
standards. (For an answer with more than two ethical standards the first two standards will be marked, and
the remainder will be ignored). (Chapter 1, 10 marks)
1 This is the additional reading for this unit. A copy of the document is available at https://www.imanet.org/insights-and-trends/business-
leadership-and-ethics/ima-statement-of-ethical-professional-practice
Page 5 of 9
Question 2
Deliziosa Purea & Succhi (DP&S) has a whole plant for processing tomatoes. The plant processes tomatoes into
tomato sauce, tomato paste, and tomato puree. As part of the cost planning and cost control of operations
and activities, FUI is currently reviewing the gross-margin percentage of each of its products, using the
estimated net realisable value (NRV) method for allocating joint costs. The company processes tomatoes in
Department #1, out of which come three products: tomato sauce, tomato paste, and tomato puree. Processing
700,000 kg in Department #1 results in 80,000 kg of tomato sauce, 100,000 kg of tomato paste and 20,000 kg
of tomato puree, and the costs in Department #1 are $200,000 in total.
Tomato paste is sold without further processing. Tomato sauce is processed further through Department #2
and the costs are $10,000. Tomato puree is considered a by-product and is processed further through
Department #3 and the costs are $5,000. Tomato sauce sells for $5 per kg, tomato paste sells for $3 per kg,
and tomato puree sells for $1 per kg.
Required
a) Calculate the gross-margin percentage of each product using unit costs per kilogram for tomato sauce,
tomato paste, and tomato puree, treating tomato puree as a by-product. Deduct the estimated NRV
of the by-product produced from the joint cost of tomato sauce and tomato paste. (e.g., Exercise 6.15,
Chapter 6, 10 marks)
b) Calculate the gross-margin percentage of each product using unit costs per kilogram for tomato sauce,
tomato paste, and tomato puree, treating all three as joint products. (e.g., Exercise 6.15, Chapter 6,
10 marks)
Question 3
Deliziosa Purea & Succhi (DP&S) has a department specialised in two products (juice and puree) from a joint
process using fruits. The joint cost of production is $30,000. A total of 6,000 units of juice can be sold at split-
off for $18 per unit or processed further as juice plus at an additional cost of $23,000 and sold for $21 per unit.
A total of 8,000 units of puree can be sold at split-off for $16 per unit or processed further as puree plus at an
additional cost of $15,000 and sold for $17 per unit.
Required
a) What is the difference in profit if the company decides to process further the juice, instead of selling
it at split-off? (e.g., Sell or process further, Chapter 6, 5 marks)
b) What is the difference in profit if the company decides to process further the puree, instead of selling
it at split-off? (e.g., Sell or process further, Chapter 6, 5 marks)
c) How does a reduction on the joint cost of production from $30,000 to $20,000 influences the decision
whether to process further the juice and the puree instead of selling them at split-off? Justify your
answer. (e.g., Sell or process further, Chapter 6, 10 marks)
Question 4
Regarding the manufacture of standard scooters at Monopattino Veloce (MV), the standard costs per unit
being variable manufacturing $8, fixed manufacturing $5. Selling and administrative costs are $3 per unit sold.
Page 6 of 9
The selling price is $19 per unit. Actual and budgeted overhead are the same for the year. Information about
the company production activity for the year is:
Sales 140,000 units
Units produced 155,000 units
Beginning Inventory 1,000 units
As part of the company cost planning and cost control of operations and activities, FIU is now reviewing its
production activity and the potential impact of different stock-costing methods.
Required
a) What is the value of closing inventory of finished goods under absorption costing? (Chapter 7, 10
marks).
b) What is the difference in profit between absorption and variable costing and, for this specific year for
this company, which of the two stock-costing methods has the higher profit and why? (Chapter 7, 10
marks)
Question 5
You have been assigned for reviewing the actual and budgeted figures of the variable manufacturing overhead
of standard scooters at Monopattino Veloce (MV). The management at MV argues there are no evident issues
with the variable manufacturing overhead budget as the static-budget variance is often favourable, which
proves the budgeting process works quite well. The management at MV also argues the employees at the
production line of standard scooters are always highly efficient because of the consistently favourable
efficiency variances.
Your analysis is for a specific month of the year, comparing the budgeted and actual figures. The variable
manufacturing overhead cost is allocated to each standard scooter based on budgeted direct manufacturing
labour-hours per standard scooter. For the specific month of the year, each standard scooter is budgeted to
take 5 labour-hours. Budgeted variable manufacturing overhead cost per labour-hour is $20. The budgeted
number of standard scooters to be manufactured in this given month is 90.
Actual variable manufacturing overhead costs in the given month were $11,500 for 100 standard scooters
started and completed. There was no opening or closing stock. Actual direct manufacturing labour-hours for
this given month were 490.
Required
a) Calculate the static-budget variance, the flexible-budget variance, the sales-volume variance and the
spending and efficiency variances for the given month for the variable manufacturing overhead. (e.g.,
Exercise 16.11, Chapter 16, 10 marks)
b) Explain whether the management is correct or not regarding having a good budgeting process due to
often having a favourable static-budget variance and a consistently favourable efficiency variance. Use
your calculations for supporting your argument. (Chapter 16, 10 marks)
Page 7 of 9
Question 6
Monopattino Veloce (MV) has a division of electric scooters which can produce two different types of scooters,
the Monopattino Elettrico Veloce (MEV), which is faster, and the Monopattino Elettrico Economico (MEE),
which has a longest-lasting battery. There is a question regarding how much should the company produce of
each product.
Table 1 – Scooters Production
Per batch MEV MEE
Sales price $2.00 $5.00
Variable expenses $0.50 $3.00
Contribution margin $1.50 $2.00
Contribution margin ratio 75% 40%
You are analysing the product-mix options under specific capacity constraints: one batch of MEV requires 6
machine hours and one batch of MEE requires 8 machine hours; the company has 15,000 machine hours
available to produce these products.
Required
How many of each batch should Monopattino Veloce (MV) produce for maximizing the profit of the division
of electric scooters and why? Use your calculations for supporting your argument and showing the maximum
contribution margin (i.e., total revenues minus variable expenses) the division of electric scooters can achieve.
(Product-mix decisions under capacity constraints, 10 marks)
Criteria N N P C D HD
2 4 6 7 8 10
Q1: Ethics, ULO1,
GLO1 (10 marks)
Not able to list the
ethical standards or
justify why the
standards are being
jeopardized and how
mitigating the risk.
Not correctly list the
ethical standards or
justify why the
standards are being
jeopardized and how
mitigating the risk.
List some of the
ethical standards or
justify why these
standards are being
jeopardized and how
mitigating the risk.
List the ethical
standards and
partially justify why
the standards are
being jeopardized
and how mitigating
the risk.
List the ethical
standards and
justify why the
standards are being
jeopardized and
how mitigating the
risk.
Clearly and succinctly list
the ethical standards and
justify why the standards
are being jeopardized and
how mitigating the risk.
4 10 14 16 19 25
Q2a-c: Joint costs
and by-products,
ULO4, GLO2 (25
marks)
Not able to calculate
and analyse the joint
costs and by-
products.
Not able to properly
calculate and analyse
the joint costs and
by-products.
Partially calculate
and analyse the joint
costs and by-
products.
Mostly calculate and
analyse the joint
costs and by-
products.
Calculate and
analyse the joint
costs and by-
products.
Calculate and analyse the
joint costs and by-
products in a clearly and
succinctly way, supporting
your answer with sound
information.
2 6 8 10 11 15
Q3: Sell or
process further,
ULO2, GLO1 (15
marks)
Not able to examine
costs regarding sell
or process further.
Not able to properly
examine costs
regarding sell or
process further.
Partially examine
costs regarding sell
or process further.
Calculate and
examine most of the
cost regarding sell or
process further.
Calculate and
examine the costs
regarding sell or
process further.
Calculate and examine
the costs regarding sell or
process further a clearly
and succinctly way,
supporting your answer
with sound information.
3 8 11 13 15 20
Q4: Alternative
stock-costing
methods, ULO3,
GLO1 & GLO5 (20
marks)
Not able to calculate
the inventory and
the difference in
profit.
Not able to properly
calculate the
inventory and the
difference in profit.
Partially calculate
the inventory or the
difference in profit.
Calculate most of the
inventory and the
difference in profit.
Calculate the
inventory and the
difference in profit.
Calculate the inventory
and assess the difference
in profit in clearly and
succinctly way, supporting
your answer with sound
information.
3 8 11 13 15 20
Q5: Flexible
budget, ULO2,
GLO1 (20 marks)
Not able to calculate
and comment on the
variance.
Not able to properly
calculate and
Partially calculate
and comment on the
variance.
Calculate and
comment on most of
the variance.
Calculate and
comment on the
variance.
Calculate and comment
on the variance in a
clearly and succinctly
Page 9 of 9
Criteria N N P C D HD
comment on the
variance.
way, supporting your
answer with sound
information.
2 4 6 7 8 10
Q6: Capacity
constraints,
ULO2, GLO1 &
GLO5 (10 marks)
Not able to calculate
and comment on the
product-mix
decisions under
capacity constraints.
Not able to properly
calculate and
comment on the
product-mix
decisions under
capacity constraints.
Partially calculate
and comment on the
product-mix
decisions under
capacity constraints.
Calculate and
comment on most of
the product-mix
decisions under
capacity constraints.
Calculate and
comment on the
product-mix
decisions under
capacity constraints.
Calculate and comment
on the product-mix
decisions under capacity
constraints in a clearly
and succinctly way,
supporting your answer
with sound information.
0-29% 30-49% 50-59% 60-69% 70-79% 80-100%
学霸联盟
