APC 309 Individual assignment

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APC 309 Individual assignment

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General Information

Weighting – 100% of the marks for this module

This is an individual assignment limited to 3,000 words (+or- 10%), excluding the reference list, bibliography and any appendices. The word count MUST be shown on the front cover of the assignment. Note: see quality Handbook Ref AQH-F15 Guidance for students on the penalty for exceeding the limit for assessed work. 

 

All of the learning outcomes for the module are being assessed in this assignment.

The learning outcomes are shown in the section entitled “Marking Guide”, which is further on in this document.  

 

The University’s policy on cheating collusion and plagiarism will be applied to this piece of work.

 

The assignment has three questions. Only two of the three questions should be answered each question carries the same maximum mark. 

 

A printed copy of your assignment, together with a summary Turnitin report  (via canvas), should be submitted to the Assignment Submission desk in the Library by 2 p.m. on TBA January 2021. 

 

THE FRONT COVER OF YOUR ASSIGNMENT MUST SHOW:

 

  • YOUR NAME;

 

  • YOUR STUDENT REGISTRATION NUMBER;

 

  • THE WORD COUNT (excluding the reference list and bibliography and any appendices)

 

The assignment has three questions only two should be answered. Each question carries the same maximum mark. 

 

Assignment Requirements

You are required to answer two of the following three questions, each question is worth 50% of the marks:

          

Question 1

 

XY Limited is preparing its annual budgets for the year to 31st December 2021. It manufactures and sells one product, which has a selling price of £400.00. The marketing director believes that the price can be increased to £410.00 with effect from 1st July 2021 and that at this price the sales volume for each quarter of 202 1 will be as follows:

  Sales Volume      
Quarter 1 22 000      
Quarter 2 25 000      
Quarter 3 15 000      
Quarter 4 27 500      
         

Sales for each quarter of 2022 are expected to be 40 000 units.

Each unit of the finished product which is manufactured requires four units of

component R and three units of component T. Both items are purchased from an outside supplier. Currently prices are:

 

Component R    £6.00 each

Component T    £2.00 each

The components are expected to maintain their current levels of pricing as above during all quarter periods of 2021.

Assembly of the two components into the finished product requires 6 labour hours:

labour is currently paid £5.50 per hour. A 4% increase in wage costs is anticipated to take effect from 1st October 2021.

Variable overhead costs are expected to be £10 per unit for the whole of 2021, fixed production  overhead costs are excluded from the budget.

Stocks on 31st December 2020 are expected to be as follows:

Finished units   6 000 units

Closing stocks at the end of each quarter are to be as follows:

Finished units   10% of next quarter’s sales

Required:

  1. a) Prepare the following budgets of XY Limited for the year ending 31st December 2021, showing values for each quarter and the year in total:
  2. i) sales budget (in £s and units)                                     ii) production budget (in units)                                            iii) material usage budget (in units)
  3. iv) production cost budget (in £s)                           35 marks

                                                                                                 

  1. b) Explain the meaning and critically evaluate the use of continuous or rolling budgets.

15 marks Total 50 marks

                                                                                                      

   

Question 2

 

Critically evaluate the financial and non-financial (qualitative) issues that may arise when an organisation is considering the following decision making situations:

 

  1. Product mix decisions when capacity constraints exist (limiting factors)

                                                                                                                25 marks

  1. Outsourcing (make or buy) decisions                                                                                      25 marks, Total 50 marks

 

Question 3

 

  1. Critically discuss the many different purposes of a standard costing system.

                                                                                                                          10 marks 

  1. Critically evaluate whether or not Standard Costing procedures can be equally applied to both service industries and manufacturing companies.                             

                                                                                                                             15 marks

  1. The following outcomes were noted for company A using a standard costing and variance analysis system.

 

Material price variance –favourable

Material usage variance –adverse

Wage rate variance -favourable

Labour efficiency variance-adverse

 

Identify and critically evaluate the possible causes of the variances noted above for      company A.

                                                                                                  25 marks, Total 50 marks

The report should include critical evaluation of the models and concepts proposed outlining their merits and limitations. You may incorporate logical assumptions with regard to the company and use numerical examples to illustrate the models and concepts that you propose to adopt

 

The University policy on cheating collusion and plagiarism will be applied to this piece of work.

 

Guidance:

 

Students are encouraged to be inquisitive and innovative in their approach as to what should be included in this report the following may be of some use in providing guidance as to what could possibly be included, although this is in no way meant to be prescriptive.

 

The aim of the assignment is to help you understand how key areas of strategic management accounting are demonstrated in practice by large, international companies. This will include investigating topics from throughout the course linked to the above issues. Some of the principles, concepts and models will be more relevant to your chosen approach than others and so it is likely that different students will formulate different approaches to the problems. This is normal, it is not expected that all of the course content will be used in the analysis, concentrate on that which you feel is most important.

As part of your work you might find it helpful to briefly explore the underlying theory behind the key areas of investigation that you identify before applying them to report.

With a total of 3,000 words you do not have a lot of room for long introductions so assume you are writing to a sophisticated audience who has a working knowledge of strategic management accounting and is well versed in business theory. Numerical examples for illustrative purposes may be of use but should not be the main thrust of the work. If used they should be to provide evidence to support your findings from your other analysis of position and policies. If other sources are used remember to reference everything!

 

Please avoid relying too heavily on descriptive sections reproducing information available from course material or the set text. It is your own logical, evaluation of the situation, the interpretation of course material and presentation, with critical analysis, of a coherent strategic plan that will attract high marks.

 

Marking Guide

The learning outcomes for this module assessed by this piece of work are:

Knowledge

 

  1. A Critical understanding of a range of key strategic management accounting models and concepts.
  2. A Critical understanding of the strategic role of management accounting at local and international level
  3. A Critical understanding of the merits and limitations of management accounting theory.

Skills

  1. How to apply the key management accounting concepts and methodologies in order to contribute to successful decision making in an organisation.

 

In light of this the assessment criteria in the grid below will be used when assessing your work.

 

APC 309 Assignment Generic Assessment Criteria

 

Generic Assessment Criteria – Undergraduate Bachelor’s degree

    Categories
  Grade Relevance                    Knowledge                   Analysis    Argument and Structure              Critical Evaluation     Presentation                Reference to Literature
 

 

 

 

 

 

 

86 –

100%

 

 

The work examined is exemplary and provides clear evidence of a complete grasp of the knowledge, understanding and skills appropriate to the Level of the qualification. There is also unequivocal evidence showing that all the learning outcomes and responsibilities appropriate to that Level are fully satisfied. At this level it is expected that the work will be exemplary in all the categories cited above. It will demonstrate a particularly compelling evaluation, originality, and elegance of argument, interpretation or discourse.
76-85%

 

 

The work examined is excellent and demonstrates comprehensive knowledge, understanding and skills appropriate to the Level of the qualification. There is also excellent evidence showing that all the learning outcomes and responsibilities appropriate to that level are fully satisfied. At this level it is expected that the work will be excellent in the majority of the categories cited above or by demonstrating particularly
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  compelling evaluation and elegance of argument, interpretation or discourse and there may be some evidence of originality
 

70 –

75%

 

The work examined is of a high standard and there is evidence of comprehensive knowledge, understanding and skills appropriate to the Level of the qualification. T here is also clearly articulated t evidence demonstrating that all the learning outcomes and responsibilities appropriate to that level are satisfied At this level it is expected that the standard of the work will be high in the majority of the categories cited above or by demonstrating particularly compelling evaluation and elegance of argument, interpretation or discourse.
60 –

69%

Directly relevant to requirements of assessment the the  A substantial knowledge  of relevant material, showing a clear grasp of themes, questions and

issues therein

 Good analysis,

and orderly

 

 

clear  Generally coherent and logically structured, using an appropriate mode of argument and/or

theoretical mode(s)

May contain some distinctive or independent thinking; may begin to formulate an independent position in relation to theory and/or  Well written, with standard  spelling and grammar, in  a readable style with acceptable format  Critical appraisal of up-todate  and/or appropriate literature. Recognition of different perspectives. Very good use source material. Uses a range of
 

50 –

59%

Some attempt to address the requirements of the                     assessment:

drift away from this in less focused passages

may Adequate knowledge of a fair range of relevant material, with intermittent  evidence of an appreciation of its

significance

 Some analytical treatment, but may be prone to description, or

narrative, which lacks clear

analytical purpose

to Some attempt to construct a coherent argument, but may suffer loss of focus

and consistency, with issues at stake stated only

vaguely, or theoretical

mode(s) couched in simplistic terms

Sound work whichpractice.

expresses a coherent position only in broad

terms          and             in                     uncritical

conformity to one or more standard views

of the topic

Competently

written, with only minor lapses from

standard grammar, with acceptable

format

 

Uses sourcesa  variety of literature which includes some recent texts and/or appropriate literature, though not

 necessarily including a substantive amount beyond library texts. Competent use of source material.

40 –

49%

Some correlation with the requirements of the assessment but there are instances of

irrelevance

 Basic understanding of  the subject but  addressing a limited

range of material

Largely descriptive or narrative, with little  evidence of analysis  A basic argument is evident, but  mainly supported by assertion and there may be a lack of clarity and coherence Some evidence of a view starting to be formed but mainly derivative.  A simple basic style but  with significant deficiencies in expression or format that may pose obstacles for the reader  Some up-to-date and/or

appropriate literature used. Goes

beyond the material tutor has  provided. Limited use of sources to support a point.

35 –

39%

 

Relevance to the requirements of

the              assessment may be very intermittent, and may be                     reduced     to                     its vaguest                     and                     least

challenging terms

A limited understanding of a narrow range of material

 

Heavy dependence on description, and/or on

paraphrase, is common

Little evidence of coherent

argument: lacks

development                and                     may            be

repetitive or thin

 

Almost wholly derivative: the writer’s

contribution                     rarely goes beyond simplifying paraphrase

Numerous

deficiencies in

expression                     and presentation; the

writer          may                     achieve clarity (if at all) only by using a simplistic or repetitious style

Barely adequate use of literature.

Over reliance on material provided  by the tutor.

The evidence provided shows that the majority of the learning outcomes and responsibilities appropriate to that Level are satisfied – for compensation consideration.

of

 

 

30 –

34%

The work examined provides insufficient evidence of the knowledge, understanding and skills appropriate to the Level of the qualification. The evidence provided shows that some of the learning outcomes and responsibilities appropriate to that Level are satisfied. The work will be weak in some of the indicators.

 

 

 

15-29% The work examined is unacceptable and provides little evidence of the knowledge, understanding and skills appropriate to the Level of the qualification. The evidence shows that few of the learning outcomes and responsibilities appropriate to that Level are satisfied. The work will be weak in several of the indicators.
0-14% The work examined is unacceptable and provides almost no evidence of the knowledge, understanding and skills appropriate to the Level of the qualification. The evidence fails to show that any of the learning outcomes and responsibilities appropriate to that Level are satisfied. The work will be weak in the majority or all of the indicators.

 

 

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