BFA612Assesmenttask232 _202005012151502
please go to the youtube website, find the video topic is how is made 323 the frozen french fries. watch the video and answer the questions 2 and question 3. for question 2 should be answer what is cost driver, what is cost driver use for(reference) and describe which cost driver has in frozen french fries this product. and describe the whole activity, which is high cost activity and which is low cost activity. for question 3 what is variable cost and what is fixed cost and how is important, (add reference). find which is variable cost which is fixed cost, why is variable or why is fixed cost, put example and explained for each the picture shows the whole activities and use words to describle these all activities.
BFA612
MANAGEMENT AND COST ACCOUNTING
Semester 1, 2020
Assessment task 2: Report
Due date: Week 10 Friday May 8th by 5.00pm
Percentage weighing 20%
Read the following information and answer the questions that follow.
Go to www.Youtube.com and search for ‘ How Its Made’, -online videos that document how
various everyday products (and services) are made. Find a product that interests you and your
group members and answer the following seven questions:
1) Discuss the cost drivers (at least 4) for assigning the cost of activities to cost objects
of the chosen product. Select and critically discuss high and low-cost activities.
2) Identify two variable costs of making the product. Explain -what makes it a variable
cost and why? Give one example of how a manager (in this scenario) can increase
variable costs while decreasing fixed costs.
3) Identify two fixed costs of making the product. Explain – what makes it a fixed cost
and why? Give one example of how a manager (in this scenario) can decrease variable
costs while increasing fixed costs.
4) Using the activity-based costing approach, determine overhead rates for each activity
that is relevant to production. Identify all inputs required. Using excel spreadsheet,
estimate and show all calculations required.
5) Calculate the operating expense of the selected product for 1000 units. Using excel
spreadsheet, estimate and show all calculations required.
6) Using excel spreadsheet, compute how a company that makes this product would
compute gross margin (for 1000 units) and contribution margin (for 1000 units).
Provide one example each and critically discuss the results from your spreadsheet.
7) Discuss how the company can greatly improve its overall profitability by creating
value for waste and developing full environmental costs. Provide 2 recommendations
to the company on the following issues: a) the importance of cost control for business
sustainability b) management accounting innovations
Guidelines:
1. Each group member should browse at least 3-4 videos before selecting one video as a
case for this assessment. This process will require rounds of group discussion. There
should a full consensus within group members in the case (video) selection for your
group assesment. Make sure that you double check you are using the video from How
Its Made. Assessment will not be marked if the video selected is not from the ‘How
Its Made’
http://www.youtube.com/
https://www.accountingtools.com/articles/2017/5/14/profitability
2. This assignment is to be submitted online and in a hard copy. Kindly read the
submission guidelines mentioned below.
3. It is important that you show your calculations using excel. You are required to
estimate (where necessary) and determine the outputs for 1000 units.
4. Your discussion should be directly linked to the case selected. Vague and general
discussion will not get marks.
5. It is important that management accounting terminologies and key words are
mentioned in answering the discussion questions.
6. Your assignment must reflect critical analysis skills. Each question should be dealt
with full complexity. Provide high level of detail to reflect critical analysis.
7. Provide calculations and industry examples to back up your claim.
8. This assignment has 7 questions. Answer all the 7 questions.
9. It is important that you consult scholarly/academic/genuine media articles for your
case and provide proper reference.
10. Assignment should meet all the above requirements. Each question should be
addressed thoroughly. Excel examples should be appropriate, logical and included,
where necessary.
11. The report should be professionally presented.
12. Under no circumstances should you share your assessment with other students. This
constitutes academic misconduct and action will be taken. All similarity reports on
Turnitin will be thoroughly checked for matching with other assignments.
Team Operating Guidelines
1. Each student should attend all team meetings decided on by the group.
2. This is a group work. Each group member should equally participate and share the
assessment workload. There should NOT be any free-riders in the group.
3. Each group should comprise of 4 members only.
4. Each student should complete tasks assigned within the group on time.
5. Keep team members informed of any unforeseen difficulties that could affect your
ability to complete your task (eg. illness, poor understanding or lack of knowledge).
6. Contributions should be equal in quality. There should NOT be any free riders in the
group
7. Contribute and share ideas equally with other team members.
8. Use proper referencing with all your contributions.
9. Keep adequate meeting minutes with action items; all members should sign these
as true after each formal meeting. All meeting minutes should be available to
present upon request.
Submission guidelines
Your assignment should have three sections: Executive summary, Main Body (7 questions)
and conclusion. As a group, you must submit two separate files; excel file and word file
(Times New Roman, 12 font size, 1.5 line spacing). In the word file, you should write the
discussion questions. The word limit for this assignment is between 1300-1500 words
including everything.
An electronic copy of your assignment needs to be submitted to the relevant BFA612 MyLO
assignment dropbox by the due date (Week 10 Friday May 8th by 5.00pm) and time. The file
name should include your names and student numbers. Altogether your assignment should
contain excel files and word documents.
Please also submit a hard copy of the assignment (collated in the order noted above). As
campus assignment boxes have been removed, please HAND TO YOUR LECTURER. The due
date and time for hard copies is your normal Week 10 workshop.
If you have any queries on the Case Study Assignment, please post your query to the
Assignment Discussion area on MyLO.
Criterion High Distinction (80-100%) Distinction (70-79%) Credit (60-69%) Pass (50-59%) Fail (0-49%)
Analyse the revenue,
costs and variances
for case studies to
provide answers to
specific questions.
5 marks
Assignment demonstrates an
exemplary analysis and
calculation of cost and
management
accounting
principles.
Assignment demonstrates a very
good analysis of cost and
management accounting
principles.
Assignment demonstrates
some
reflection on cost and
management accounting
principles.
Assignment
demonstrates general
reflection on cost and
management
accounting principles
Assignment does not
demonstrate any
reflection on cost and
management
accounting principles
Research, interpret
and apply
management
accounting
techniques and
theories specific to
case studies.
5 marks
Excellent and logical use of
management accounting
keywords, techniques and
concepts. Discussion is
systematically supported by
logical real-world
examples/business
examples/research. Application
of management accounting
techniques is exemplary.
Good use of management
accounting keywords,
techniques and concepts. Most
of the arguments are supported
by real world examples/business
examples/research. A good
application of management
accounting techniques is
reflected.
Some awareness of
management accounting
keywords, techniques and
concepts is exhibited. Only a
few arguments are supported
by some general real world
examples/business
examples/research. An
application of management
accounting techniques is
somewhat reflected.
Use of management
accounting techniques
and tools are vague.
Arguments are vaguely
supported by real world
examples/business
examples/research.
Assignment does not
reflect logical and
appropriate use of
management
accounting techniques.
Interpretations are not
insightful and does not
meet this criteria.
Identify social
responsibility and
sustainability issues
in the business
context.
10 marks
Exemplary critical analysis of
key
social responsibility and
sustainability issues is
conducted.
A good analysis of majority of
the social responsibility and
sustainability issues is
conducted.
A basic analysis of a few
social responsibility and
sustainability issues is
conducted.
Social responsibility
and sustainability
issues are vaguely
discussed.
Social responsibility
and sustainability
issues are illogical and
do not provide
evidence of meeting
the criteria.
Use interpersonal
skills to provide
recommendations in
the form of a
business report.
5 marks
Report is presented
professionally and has flawless
English. Report demonstrates
exemplary, logical and
genuine
recommendations.
Adheres to professional
reporting conventions.
Very good use and expression
of English is reflected. Report
demonstrates logical
recommendations.
Report contains no more than
two writing mistakes (grammar,
spelling,
writing error, &
sentence error).
Good use and expression of
English
is demonstrated.
Recommendations are
satisfactory but lacks some
clarity.
Report contains no more
than four writing mistakes
(grammar, spelling, writing
error, & sentence error).
A basic use and
expression of English
is demonstrated.
Recommendations are
not very applicable,
general and vague.
Report contains more
than 5 mistakes
(grammar, spelling,
writing error, &
sentence error).
The report does not
reflect minimum
interpersonal skills
criteria.
Recommendations lack
clarity and cannot be
used in the real world.
Apply teamwork
skills to analyse case
studies. Develop a
cohesive team
structure and reflect
on roles of self and
peers.
10 marks
Assignment shows strong
evidence of excellent teamwork
skills.
Group members have
contributed equally. Report
reflects quality and uniformity.
Information on team structure,
roles and
work distribution is
systematically documented and
presented when
asked.
Assignment shows good
evidence of
teamwork skills.
Group members have
contributed equally.
Information on team structure,
roles and work distribution is
documented and presented when
asked.
Assignment shows some
evidence of teamwork skills.
Information on team
structure, roles and work
distribution is presented
(when asked) but lacks
clarity.
Assignment shows
minimum evidence of
teamwork skills.
Information (when
asked) on team
structure, roles and
work distribution is
unclear and points
towards some
inconsistencies.
Assignment shows
least evidence of
teamwork skills.
