代写 ACCTG 101

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代写 ACCTG 101

ACCTG 101

Assignment 01

Due Thursday 31 March 2016, 4 pm.

Page 1 of 4

Assignment 01 will be marked out of 45 marks and is worth 5% of your final grade.

Overall Presentation

Submission: Type your answers into the Answer booklet and submit your assignment by 4 pm on Thursday 31

March 2016 via Canvas. See the information provided at the end of this document. Please keep a copy of

your assignment in case there are some technical issues with submission.

Answer Booklet: Answers must be typed into the Answer Booklet using Verdana style and 10 font size. This

provides practice for answering in the test and exam booklets. If calculations or tables are required for an

answer, they should be typed, set out neatly and labelled clearly in the Answer Booklet in the space

provided. Bullet point answers are acceptable only if the whole sentence makes sense.

Workings: For any calculation type questions, you should show all workings, no matter how trivial they may be

as marks are awarded for partial work. This is good practice for the test and exam. These should be typed.

Communication: A high standard of written expression and presentation is expected of your assignment.

Correct spelling and grammar are essential. Discussions should be concise, structured in a logical order,

and relevant to the question. Refer to The Business of Writing: Written Communication Skills for Commerce

Students by E. Manalo, G. Wong-Toi, and M-L. Hansen, 3 rd edition, 2009.

Referencing: APA referencing is to be used where necessary. You DO NOT need to reference the assignment

question. However, you DO need to reference your textbook (or any other text) if you have QUOTED or

PARAPHRASED it. (See the library course page for details on how to use APA referencing). Always answer

the questions in your own words.

Questions 45 marks

1. Business Organisation: 9 marks

Locate the Annual Report for Pumpkin Patch Limited for the year ended 31 July 2015. Using

information from the NZX website (https://www.nzx.com/markets/NZSX) and Pumpkin Patch’s

Annual Report, answer the following questions:

(a) Using the Management report section of the Annual report, discuss three factors that had an

impact on Pumpkin Patch Limited’s financial results and how they contributed to the poor

performance in 2015.

代写 ACCTG 101

(3 marks)

(b) Pumpkin Patch Limited - Directors.

(i) Discuss the role of the directors at Pumpkin Patch Limited. (1 mark)

(ii) Comment on the work experience of the Managing Director in relation to whether it

is or is not adequate for improving the prospects of Pumpkin Patch Limited.

(2 marks)

Assignment 01 Questions DUE DATE: Thursday 31 March 2016 4 pm

Page 2 of 4

(i) Using the NZX website and the financial statements, calculate the Market

Capitalisation of Pumpkin Patch Limited on the 22 nd of March 2016.

(1 mark)

(ii) Explain the concept of Market Capitalisation in your own words.

(2 marks)

(Total 9 marks)

2. Cost-Volume-Profit Analysis: 17 marks

The Barron Furniture Business (BFB), chair manufacturers, requires your assistance in

planning for 2016. You are provided with the following information regarding performance

over the past three years. BHB have a separate operating segment which produces high end

chairs. It is expected that 1,450 high end chairs will be produced and sold during 2016.

2013 2014 2015

Number of high end chairs produced

and sold

1,250 1,100 1,320

Sales revenue $ 398,750 $ 350,900 $ 421,080

Total costs 340,760 321,800 349,300

Operating Profit $ 57,990 $ 29,100 $ 71,780

Required

(a) For Barron Furniture Business’ high end chairs operating segment, calculate the selling

price per unit, and estimate the variable cost per unit and annual fixed costs using high-

low analysis.

(3 marks)

(b) Explain the concept of high-low analysis. (2 marks)

(i) the estimated break-even point (in units) for 2016.

(ii) the estimated margin of safety as a percentage of expected sales for 2016.

(iii) the expected profit for 2016.

(9 marks)

(d) Explain what your answers for part (c) indicate about the high end chairs segment’s

operating risks.

(3 marks)

(Total 17 marks)

Assignment 01 Questions DUE DATE: Thursday 31 March 2016 4 pm

Page 3 of 4

3. Budgeting: 14 marks

Pandora Company’s purchasing manager, Michelle Cain, is preparing a proposed purchases

budget for the next quarter. The manager of the sales department has forwarded her the

following preliminary sales budget.

Budgeted Sales

October $420,000

November $470,000

December $580,000

January $360,000

For budgeting purposes, Michelle estimates that cost of goods sold is 60 percent of sales. The

company has a policy that 40% of the following month’s cost of goods sold should be

maintained in ending inventory. The September ending inventory is $75,000. Pandora makes

all purchases on account and pays 25 percent of the accounts payable in the month of

purchases and the remaining 75 percent in the following month. The balance of accounts

payable at the end of September is $203,000.

Required

(a) Prepare an inventory purchases budget for October, November and December. Determine

the amount of ending inventory that will appear on the projected balance sheet at the end

of December. Explain the trend in the purchases over the budgeted three months.

(7 marks)

(b) Prepare a schedule of cash payments for inventory purchases for October, November and

December. Determine the balance in accounts payable that will appear on the projected

balance sheet at the end of December. Explain the trend in the purchases payments over

the budgeted three months.

(5 marks)

(d) What are two implications for management when preparing a cash budget based on these

two budgets?

(2 marks)

(Total 14 marks)

Assignment 01 Questions DUE DATE: Thursday 31 March 2016 4 pm

Page 4 of 4

4. Costing: 5 marks

McCullum’s Electronics is currently operating at 50 percent capacity and producing 50,000 units

of a patented electronic component. The fixed costs are $100,000 per year. The cost structure

of the component is as follows:

Cost Item Cost Per unit

Direct Materials $1.50 per kg 2kgs

Direct Labour $1.50 per hour 0.5 hour

Variable Overhead $2.00 per unit $2.00

Southee Business has offered to purchase 30,000 of the components at a price of $6.20 per unit.

The normal selling price is $10.50 per component. This special order will not affect any of

McCullum’s ‘normal’ business.

Required:

(a) Calculate the cost of the component for normal orders.

(5 marks)

(Total 5 marks)

Instructions for submission of assignment

An electronic version of your assignment must be submitted on Canvas. Please follow the

instructions below to submit your assignment.

1. Save your assignment as a pdf file.

2. Rename your assignment file name to your last name, followed by a comma and your first

name. For example, Smith, Kate. (The last name is Smith and the first name is Kate.)

3. You can upload the file on Canvas by going to Assignments, then click on the Assignment 01.

You will see the Submit Assignment button on the right-hand side of the webpage. A

message box will show up, and you need to click on the Choose File button to locate your

assignment file, which you had renamed in the above steps and click ok. The last step will be

clicking the Submit Assignment button in the new message box to submit you file.

Note: You can only submit one pdf file per person. If you want to replace the existing file you can

simply repeat the step 3 above. You can do that any time before the due date.

代写 ACCTG 101

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