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Effectively use costing techniques and describe the strengths and limitations of such sequences Analyses accounting information and present reports in various formats Describe and utilize the basic concepts of planning and control systems Student assessment: Provide, In table format as shown below, a schedule of formal assessment tasks and major examinations for the subject/unlit. Assessment Type 3. When assessed Final submission due via Model pm Monday 23 September 2013 Weighting Learning Outcomes Assessed The Assignment is to be submitted using MS Excel as a KOKI Model Assignment which has been setup on the KOKI Model site.
The submission due time and date is: 7. Pm Monday 23 September 2013. A hard copy (Paper copy) of the Case study is to be handed in either at the Lecture or at the beginning of your Tutorial class in Week 10. As part of the Assignment requires you to comment on the outcome of your work in a report format, you may find it much easier to submit the report as a second file prepared in MS Word. (The Assignment has been set to accept up to two files for submission to allow you to do this.
Note ALL calculation worksheets should be submitted on ONE MS Excel Worksheet. Each product should be split into Labor and Material PLUS one Worksheet for Overheads. This will require ONE workbook with SEVEN worksheet tabs. NOT SEVEN separate workbook files. Students should note, that the hard copy is ONLY to ASSIST in marking however the electronic submission MUST occur by the time and date specified above otherwise there will be a 20% penalty for ANY late submission PLUS an additional 5% penalty for each day late after Monday.
No assignment will be marked after one week late. Please do NOT bring Doctor’s Certificates for the due date. As this is the work of an entire group, please ensure you have sufficient group members ready to work to deliver the work ON TIME. ACACIA TO-13 Written Assignment Specification Page 1 ACACIA – Introduction to Management Accounting -rhymester 2 – 2013 Each week you are required to submit one completed component of the Assignment for progress checking. You will be advised in class the component due in the following week.
The final submission is due pm Monday 23 September 2013 (Hard copy due in Lecture (or Tutorial) Week 10 The schedule for the progress checking is as follows: Tuesday Tutorial Class Week 8 10 September: First material and labor variances for at least one of the three products; Tuesday Tutorial Class Week 9 17 September: Overhead variances (both fixed and arable) Monday 23 September Week 10 – Complete assignment lodged via Model (this is the OFFICIAL DUE DATE as described above) Tuesday 24 September Week 10 – Hand in hard copy of complete assignment. This submission is to assist with marking – the due date is MONDAY 23 September! ) Sail- away Sports Limited design and manufacture small sail craft (boats). They manufacture three different model boats as follows: Model ADDS – mm Dinghy sati Boat Model THIS – 3. Mm 2-handed sati Boat Model CBS – 4. Mm 2-handed Sports Boat The following information is known about Sail-away Limited: Sail-sways boats are made in three stages: The HULL (the bottom part of the boat that goes in the water) and the DECK (a cover that is glued to the HULL to make it water-tight) are made from fiberglass.
To make the Hull and Decks, the fiberglass is formed in a MOULD one mould for each component which can be re-used many times. This operation is performed in the Molding Department. Once the hull and deck components are formed and set, they are then sent to the Fitting Department for “FITTING” In the FITTING Department buoyancy devices (foam blocks to prevent the boats from sinking in case of capsize) re fitted and the Hull and Decks are glued together to form the final boat shape (called a ‘HULL UNIT’) along with final fiberglass forming.
The Fitting Department pass these HULL UNITS along to the storage facility to be held for later use. As each unit is supervised by a separate team leader and there may be a separation of time between MOLDING and FITTING, separate Production Process Reports are used for each of the Departments and the finished ‘HULL UNIT’ is considered ‘completed at this stage of production. Page 2 The sails for the boats are standardized designs however each model boat has a efferent-sized sail.
The sails are made in a second production line as the skills required to make sails are quite different to those for molding and fitting the boats. As the sails are standardized in size and materials, Slipway Sports runs a separate production line for the making of the sails. The Sail cloth is quite ‘highlight’ and must avoid unnecessary wastage and is batched according to sail-type then passed to the Stitching and Gluing Department. The Stitching and Gluing Department assembles the sail, using various glues and heat-fusion techniques and some stitching processes to complete each sail.
Once finished, the completed sails must be handled carefully to ensure they are not damaged and are passed to the Packaging Department for careful packaging, labeling and storage ready for sale. Once Sail- away Sports receives the orders from the Schools for their boats, finished Hulls and sails are taken from the Storage Facility and sent to the Rigging Department where final RIGGING (The aluminum masts, pulleys (blocks), cleats (components to hold adjustable ropes in place), rudders, centerboard’s and other necessary components are fitted to the boats in batches according to the number required for each customer order.
With a storage facility that can hold many ‘completed’ HULL UNITS and many SAILS, Sail-away Sports can more evenly space production throughout the year to maintain the labor force over the ‘quiet months’ (typically during Winter) and have plenty of stock ready for the busy periods during Spring and Summer when the ‘Sailing Season’ is fully underway. Finally, each order is sent to the Packaging and Logistics Department where it is given a final quality check, cleaned and packaged for shipping to the Customer with all components packaged together as complete boat sets in ‘ready-to-sail’ condition for use by the schools.
Sail-away Sports has a small sales team and a customer service and training team which are available to visit schools that order their sail boats. These teams are trained in both sailing and can also make small warranty repairs and train school staff on the maintenance and upkeep of the boats. This level of service is highly valued by schools and has led to increasing demand for their products as their reputation for a good quality product and great service has spread among schools so that advertising is rarely required apart from some sponsorship funding to regattas that are often held when intersection competition occurs.
Recently, due to the great success and popularity of their product, the Australian Sports Commission, keen to expand on Australia’s recent success in sailing at the recent Olympic Games, is looking for ways to satisfy increased community interest in the sport of sailing. Along with Yachting Australia (the Sport’s governing body) they are considering offering support to local sailing clubs around Australia to buy small fleets of standardized but competitive sail-boats.
Like most Government bodies however, before they agree to offer contracts to supply to any company, they want to e sure these potential suppliers are well-run and financially stable. Sail-away Sports have been approached and offered an opportunity to participate as a ‘Preferred Supplier’. To obtain this status however they must submit (in confidence) full costing reports to a ‘Review Panel’ who will assess the management and viability of the business before accreditation can be granted.