Assignment Cost and Management Accounting

a. Explain FIVE (5) differences between managerial accounting and financial accounting.

b. Explain and describe the following items:
i. Features of management accounting.
ii. Concept of cost object
iii. Data and information
iv. List the type of information needed
v. Elements of useful information
(15 Marks)

c. Compute the prime cost, manufacturing cost and total cost of the following information:

The budgeted costs of producing the SC700s in year 2011 were:
RM
Selling price 120 per unit
Direct material 5 per kg
Direct wages 7 per hour
Direct expenses 4 per unit

Variable manufacturing overhead 10 per labour hour
Fixed manufacturing overhead 12 per unit

Selling and distribution overhead 2 per unit
Finance and administration overhead 3 per unit
Usage:
Material 3 kg per unit
Labour 2 hours per unit

(10 Marks)
Instruction:

This is an individual assignment. The student is required to type and print the assignment using Font 12’ Times New Roman. The student is required to submit the hardcopy assignment to your respective lecture on THE DUE DATE. There will be NO MARK awarded for any plagiarism and late submission assignment.

SAPE LEH TOLONG BAGI JAWAPAN NI?

Follow @remy_zakaria