Enter the accountancy department costs for option a. Accounting Technology Costs.

Enter the accountancy department costs for option a Telford Engineering lost 30% of its exports to CETA customers after MEXIT, reducing sales. COST ACCOUNTING Directorate of Studies, The Institute of Cost Accountants of India 4 (b) EOQ = C 2AO A = Annual requirement = 36,000 units O = Ordering Cost per order = ` 25 C = Carrying cost per unit per annum = 1 × 20% = ` 0. The company is analyzing costs as they have recently fluctuated significantly given an increase in raw material costs and labor. What is the Accounting Department's cost allocated to Department B using the direct method? A. , True or False? The auditors' communication of internal control significant deficiencies should be addressed only to senior management of the company. So, in the step 2, we will calculate the forecast total accounting assets cost for year Apr 21, 2020 · of the remaining accountancy department staff, due to the need for increased overtime and the costs of hiring temporary workers to cover peak times. For items 1-6, enter the Accountancy The documentation of business activities is accomplished through accounting. Study with Quizlet and memorize flashcards containing terms like True or False? Internal control is a process that provides reasonable assurance concerning reliability of financial information. Carry the allocation ratios out to four decimal places, if required. ACCA Ethics Module - Unit 8 Presentation on Strategic options discussed by the sub-committee formed under Head of Accounting, Jamie Roberts. Enter the accountancy department costs for Option B (to the nearest $M'000). Nov 1, 2024 · Reviewed by: Melissa Anderson / First Covered: August 2015 / Updates: 3. Telford Engineering's financial statement shows sales of $8 million with total costs of $6,560, including $2,000 for materials, $3,000 for staff costs across different departments, and $1,560 for other costs like overheads, distribution, general administration and finance. Additionally, it is a public corporation, and the accounting department is involved, which could trigger SOX compliance. The main attraction of 40k is the miniatures, but there are also many video games, board games, books, ect. The tips are: B, C. Option b: Results in a less accurate allocation compared to the plantwide approach. ) When you consider the cost of building an accounting department—wages or salaries, plus the cost of benefits, PTO, IT, overhead, and overtime—these fully loaded costs add up. Question Calculate and compare the forecast total accounting costs in the year following MEXIT under the restructured in-house option (A) to assess which option will be most economical for Telford Engineering in the future. For your answer only provide the Calculate and compare the forecast total accounting costs in the year following MEXIT under the restr economical for Telford Engineering in the future. FebruaryFebruary. Study with Quizlet and memorize flashcards containing terms like The sacrifice that is incurred in order to obtain an alternative option is a(n) _____ cost. a. As i have tried many things . The accounting department costs will be allocated based on the number of employees using the direct method. Aug 21, 2023 · Calculate and compare the forecast total accounting costs in the year following MEXIT under the restructured in-house option (A); to assess which option will be most economical for Telford Engineering in the future. What was the filtration cost per liter? Determine the formula, then enter the amounts to compute the filtration cost per liter. Transferred-in costs or current period costs are costs incurred only while the product is being processed within the current department. 000 $ 20,000 5 Rent Oo Insurance 0 8,500 2,200 40,000 8,500 2,400 38,900 Clothing department Shoes department Totals 127,700 5 128. the cost allocated to a particular user department does not depend on the amount of resources (Enter under-budget amounts with a minus sign. Materials costs as a percentage of sales would match the current rate. like adding 10% to current salaries and 25% additional and calculate the ans but still got incorrect so hep me… Aug 16, 2023 · Calculate and compare the forecast total accounting costs in the year following MEXIT under the outsource option (B); to assess which option will be most economical for Telford Engineering in the future. 3. Section 12: Strategic planning 55. Budget Actual Indirect materials $13,760 $12,298 Indirect labor 17,200 17,716 Utilities 8,600 9,331 Supervision 4,300 4,300 All costs are controllable by the department manager. - In this diagram, there are three circles representing chartered accountants, cost accountants, and management accountants. Lite Co In the Assembly Department of Bridgeport Company, budgeted and actual manufacturing overhead costs for the month of April 2022 were as follows. the user knows the costs in advance and can factor them into ongoing operating choices, b. These costs may be costs incurred in that previous department during this accounting period or a preceding accounting period. Enter the accountancy department costs for Option A (to the nearest $M’000). Key Takeaways: Our #1 ranking school for an affordable online accounting degree is Florida Atlantic University, followed by Cameron University. The Accounting Department costs are probably related to the revenues earned by each division Other overhead costs are allocated arbitrarily so the method used is reasonable Requirement 3. In today’s world, accounting departments run lean. Cost Accounting Revision Sheet Service Department Cost Allocation & Variance Analysis. and more. #COMMUNITY. Enter the accountancy department costs for Option A (to the nearest $M'000). The forecast total accounting costs under the outsource option (B) for Telford Engineering in the year following MEXIT amounts to $921,000. Question 0 2 / 0 3 Calculate and compare the forecast total accounting costs in the year following MEXIT under the outsource option (B); to assess which option will be most economical for Telford Engineering in the future Aug 16, 2023 · Calculate and compare the forecast total accounting costs in the year following MEXIT under the restructured in-house option (A); to assess which option will be most economical for Telford Engineering in the future. 3 the complete reciprocated costs of each support department to all other departments (both support departments and operating departments) on the basis of Oa raw lumber Ob. The accounting department provided the following information about the process for the past four weeks: a. Evidence of a lack of Study with Quizlet and memorize flashcards containing terms like Examples of service departments include, Any cost center whose costs are not allocated to another cost center is called a ___ cost center, Methods to allocate service department costs are the ____, ____, and ____ methods. Enter the appropriate amounts in the associated cells based on the information in the exhibits. , Information that is future oriented and differs among the alternatives is known as ____ _ information. Management's failure to renegotiate unfavorable long-term purchase commitments. For your answer only provide the first three numbers and do not include any symbols, for example, " 5 4 3 ". You will also be required to save all chat communications. Analysis: Option A (In-house with Reduced Staff): Telford Engineering anticipates incurring accounting costs amounting to. Feb 24, 2024 · Cost Accounting. The cost of labor is $45 per hour including benefits. The multifactor productivity ratio for week 1 is enter your response here. 20 EOQ = 0. The company has two service departments, Administrative and Facilities, and two operating departments, Assembly and Wholesaling. administrative salaries Oc. See Answer See Answer See Answer done loading Calculate and compare the forecast total accounting costs in the year following MEXIT under the outsource option ( B ); to assess which option will be most economical for Telford Engineering in the future. No. b) Redundancy planning quiz. Calculate and compare the forecast total accounting costs in the year following MEXIT under the restructured in-house option (A) and the outsource option (B); to assess which option will be most economical for Telford Engineering in the future:-Enter the accountancy department costs for Option A:-Enter the accountancy department costs for Option B: Question 1: Calculate and compare the forecast total accounting costs in the year following MEXIT under the restructured in-house option (A); to assess which option will be most economical for Telford Engineering in the future. First, we need to know the total accounting costs for Telford Engineering under the outsource option (B) in the current year. “treat each strategic option as totally independent” …. 160 comma 000160,000. ) b. If what I described is not available, then from your report, select all the line items. Use a minus sign to indicate a subtraction. 5% to 35%). txt) or read online for free. This should include all direct and indirect costs associated with outsourcing, such as the cost of the outsourcing contract, any Show more… Mar 8, 2022 · but operating with the reduced workforce ue to the need for increased overtime and the costs of hiring temporary workers to cover peak times. See Answer See Answer See Answer done loading Answer to Question 02/03 Calculate and compare the forecast. Assuming the following level of cost-driver volumes for a month, what are the accounting department's estimated costs of doing business using the account analysis approach? • 40 special reports • 2,500 customer accounts maintained 55,000 transactions processed Complete this question by entering your answers in the tabs below. Dec 20, 2023 · as you are on this question , thats mean you successfully passed accountancy costs quiz in unit 8 . Jack Brown Hall, Room 459 (909) 537-5704 Department of Accounting and Finance website; The university offers concentrations in Accounting, Finance and Financial planning within the Bachelor of Arts in Administration and the Master of Business Administration. Feb 19, 2024 · I have been trying to solve the Question from unit 8. The question mentions China and Germany, which have data sovereignty laws that govern storing for information (saved chat logs). You might be surprised to learn that achieving these goals will also reduce costs associated with day-to-day operations, improve your budget, AND improve the happiness of your employees. Calculate the budgeted unit cost of basic and deluxe trophies if Triton allocates overhead costs in each department using activity-based costing, where setup costs are allocated based on number of batches and general overhead costs for each department are allocated based on direct manufacturing labor costs of each department. 2 the set of linear equations to obtain the complete reciprocated costs of each support department. This would be an example of _____. 2 True or False: Conversion costs consist of product costs and period costs. The ACCA Learning Community. Accounting; Accounting questions and answers; The processing department at Splish Corporation evaluated the costs associated with manufacturing paper towels for the past month. Retagged December Feb 24, 2024 · A cost analysis for Department 1, the first department in the manufacturing cycle for the month of April, can be found in the exhibits. i am not asking the answer , its the way to solve it . Look for your old department. 69. Settings; Login; Enter the accountancy department costs for Option A (to the Apr 24, 2020 · Hi! As Kim mentioned earlier there are 4 elements of the total accounting cost for Option B: – The outsourcing cost: 292 – Redundancy cost: 25% of the current annual salaries of the redundancy – but here you have to take into account those who plan to leave before Mexit as the company do not have to pay any redundancy cost after them (this information was in the first spreadsheet) According to the image, the current accounting costs under Option B are listed in the TELFORD ENGINEERING P/L account section. (Enter your answer to the nearest cent. View the EPSM syllabus for full details Telford Engineering's financial statement shows sales of $8 million with total costs of $6,, including $2, for materials, $3, for staff costs across different departments, and $1, for other costs like overheads, distribution, general administration and finance. Intangible benefit e. , True or A subreddit for discussion of everything related to the ACCA (Association of Chartered Certified Accountants). Tangible benefit b. The management accountants can fall into any of the three categories: chartered accountants, cost accountants, or both. Cost accounting is the process of tracking and analyzing business spending to identify areas of waste and opportunities for cost savings. Part 1: Answer: To calculate and compare the forecast total accounting costs in the year following MEXIT under the outsource option (B), follow these steps: Step 1: Determine the Initial Accounting Costs for Telford Engineering (Option A) Calculate the total accounting costs for Telford Engineering based on the provided accountancy department costs for Option A. Business; Accounting; Accounting questions and answers; Q1) Calculate and compare the forecast total accounting costs in the year following MEXIT under the restructured in-house option (A); to assess which option will be most economical for Telford Engineering in the future. Delivery Accounting Laboratory Pathology 6-18: Activity-based costing of order entry costs Hampstead Company's order entry department has 20 operators and costs of $873,600 per year related to salaries, fringe benefits, supervision, occupancy and equipment. Since adding staff is usually not an option, here are seven ways to lighten accounting’s workload. 1. Calculate and compare the forecast total accounting costs in the year following MEXIT under the outsource option (B); to assess which option will be most economical for Telford Engineering in the future. Section 11: Human resource planning. $921,000. File View Insert Format Tools Data Window Help Sun 23 Jul 8:59 PM a g Home Insert Draw Page Layout Formulas Data Review View Tell me Share Calibri (Body) v 12 A A = = I 1 2 wrap Text v Number Merge Centre % Paste A Insert Delete Format 1 Uv = 8389 Sorts Formatting C14 fx -100 A B TELFORD ENGINEERING P/L Account 2 Sales 3 Costs Production costs Your solution’s ready to go! Our expert help has broken down your problem into an easy-to-learn solution you can count on. Answer to Q1) Calculate and compare the forecast total. The reciprocal method allocates services department Rent and depreciation costs may be related to square feet. Once you select it, click Save. Which division manager do you think suggested this new allocation? A B с D E 1 SUPPORT DEPARTMENTS Human Information Resources Systems OPERATING DEPARTMENTS Corporate Consumer Sales Sales $ 75,000 $ 230,000 $ 990,000 $ 485,000 2 Budgeted costs incurred before any 3 interdepartment cost allocations Support work supplied by human 4 resources department 5 Budgeted number of employees Support work supplied by Ransom Widgets allocates the estimated cost of its accounting department, $200,000, to its production and sales departments since the accounting department supports these departments with regard to payroll and accounts payable functions. One of the division managers has done some research on activity-based costing and proposes the use of different allocation bases for the different indirect costs - number of employees for HR costs, total revenues for accounting department costs, square Assuming the following level of cost-driver volumes for a month, what are the accounting department's estimated costs of doing business using the account analysis approsch? - 40 special reports - 2,500 customer accounts maintained - 55,000 transactions processed - 40 special reports - 2,500 customer accounts maintained - 55,000 transactions In the given question, the cost of the accounting department is not related to any part of the product or service, This is an example of a period cost which should be expensed outright and won't be part of the manufacturing cost. Return on investment Unit 8 Strategic Options Presentation PDF - Free download as PDF File (. Meet with process owners and gain an understanding of how their Assign the support department costs by using the sequential method, allocating accounting costs first. Here are some effective accounting department structure best practices: 1. (Enter your response rounded to two decimal places. ) The department allocation approach can impact the accuracy of cost allocation in the following ways: Option a: Does not affect the accuracy of cost allocation. 1-Calculate and compare the forecast total accounting costs in the year following MEXIT under the restructured in-house option (A); to assess which option will be most economical for Telford Engineering in the future. She was interviewed by David and is excited about the proposed system that will utilize electronic funds transfer. Break even analysis d. To qualify, you must have maintained good academic standing with the university and taken the following courses during your undergraduate studies: Variety of Accounting Degree and Certificate options to meet the demands of today’s job market; Lower tuition costs over major universities; ACC’s Accounting Program is accredited by the Accreditation Council for Business Schools and Programs (ACBSP). What is the cost per unit for transactions processed? b. $10,000. Which regulations do you need to worry about? We would like to show you a description here but the site won’t allow us. Nov 14, 2023 · Outsourcing would mean that 40% of the other non-staff accounting department costs could be saved each year 8 19 20 Note: The remaining staff to be retained under the Outsource Option will be as follows: 21 Head of Accounting (unchanged salary) + 2 Fully Qualified (FQ) Accountants and one Part Qualified (PQ) Accountant 22 72 Your solution’s ready to go! Our expert help has broken down your problem into an easy-to-learn solution you can count on. Which of the following matters would an auditor most likely consider to be a significant deficiency to be communicated to the audit committee? A. Gustavson Corporation uses the direct method to allocate service department costs to operating departments. if variances are misused as a club to negatively reinforce employees, morale may suffer and employees may make dysfunctional decisions 3. Assuming the following level of cost-driver volumes for a month, what are the accounting department’s estimated costs of doing business using the account analysis approach? 40 special reports; 2,500 customer accounts The supplier___ is compared to the internally generated documents of the voucher system to ensure the quantity and costs agree with what has been ordered and received. Qualified (FQ) Accountants + 3 Part Qualified (PQ) Accountants + 4 Accounting Technicians Qualified (FQ) Accountants and one Part Qualified (PQ) Accountant re not to be replaced, and the company will continue to operate the accountancy function in-house Dec 12, 2023 · can any one help me with the answers of about accounting department costs option a and option b. For items 1-6, enter the appropriate amount in the associated cell. , The process that begins by attempting to increase price to meet reported product costs, losing market, reporting higher costs, and so on until out if business is the _______ ___________. (Round your answers to the nearest dollar. What is the value of the inventory transferred to the next department if beginning inventory was 2,000 units; 9,000 units were started; and 1,000 units were in ending inventory? The correct journal entry to apply manufacturing costs to processing Department #1 would be to _____ Manufacturing overhead and _____ Work in process-Department #1 work in process Recording the transfer of partially completed products from one processing department to another, requires a journal entry that affects the May 10, 2022 · highest costs has its costs allocated, and so forth until the service department with the lowest costs has had its costs allocated. 546 24,573 20,392 8,513 10,530 8,786 Week 4 985 9,476 A cost analysis for Department 1, the first department in the manufacturing cycle for the month of April, can be found in the exhibits. g. i have been working on these options for almost 15 days but cant get the right answer , can you please share the way you solve it please . B. Many of our prospective clients come to us asking about accounting technology integrations and automation options. Show more… Answer to 1 - Calculate and compare the forecast total. e. I am struggling with this . Recurring operating losses that may indicate going concern problems. Study with Quizlet and memorize flashcards containing terms like When a company uses only one rate to allocate overhead costs, the accounting system treats all overhead as if the costs were ______. Top. Your solution’s ready to go! Our expert help has broken down your problem into an easy-to-learn solution you can count on. my email perwinhassan93@gmail. $80,000 C. Variable costs 1 support department costs and reciprocal relationships in the form of linear equations. assembly labor's wages Od. Warhammer 40k is a franchise created by Games Workshop, detailing the far future and the grim darkness it holds. 15-5 The use of budgeted indirect cost allocation rates rather than actual indirect rates has several attractive features to the manager of a user department: a. that are all connected in the 40k universe. Section 12: Strategic planning The cost of labor is $55 per hour including benefits. The third method is the most complicated but also the most accurate. , After obtaining an understanding of internal The Filtration Department completely processed. A building is acquired on January 1, at a cost of $900,000 with an estimated useful life of 10 years and salvage value of $81,000. Compute depreciation expense for the first three years using the double-declining-balance method. If all reconciles, the accounting department will record the purchase in the accounting records. ) Plant Manager, Ohio Factory Controllable Costs Budgeted Actual Over (Under) Budget Salaries, department managers 20. Accounting Technology Costs. This post has been hidden 27 student(s) online now Back to Posts You are working for a multinational public corporation. See Answer See Answer See Answer done loading Oct 8, 2022 · MEXIT under the outsource option in the spreadsheet). . We would like to show you a description here but the site won’t allow us. Option 1 would leave the department with a head of accounting, 2 FQ accountants, 3 PQ accountants, and 4 technicians at 10% higher pay plus 25% extra in costs. #EPSM. com thanks Apr 9, 2022 · Hello friends, can anyone help me with the answers to cost related to option A and option B in Unit 8 Section 6. c) Deciding on who to retain. Adams Manufacturing's five manufacturing departments had the following operating and cost information for the two most recent months of activity: Units produced May - 10,000 June - 20,000 Costs in each department Department A May - $10,000 June - $10,000 Department B May - $25,000 June - $50,000 Department C May - $35,000 June - $45,000 At Symtecks, the output of a process is valued at $110 per unit. Conduct process walk-throughs. , 2021/ Qualifying Examinations as Part of the Accountancy Program Retention Policy supervision, control, and regulation Jun 11, 2021 · strategic options identified by the sub-committe strategic option 1- cost reduction • cutting costs is a key strategy to turn around. Telford Engineering imports 50% of its materials from CETA and import costs will be affected by the lower exchange rate post MEXIT. After taking into account vacations and holidays, Hampstead calculated that each operator worked about 1,920 hours per year. accounting department costs Show transcribed image text There are 3 steps to solve this one. Sales price per unit ($)1b. See Answer See Answer See Answer done loading Q Question 01 Calculate and compare the forecast total accounting costs in the year following MEXIT under the restru Answered over 90d ago Q What would be the predicted sales with the following data: Distance from the capital = 150 Population = 15000 Ticket bar VIDEO ANSWER: Solution for this question is, first we will identify the relevant cost for accountancy department under the reconstructed in the house option A. New. Jun 1, 2024 · Calculate and compare the forecast total accounting costs in the year following MEXIT under the restructured in-house option (A); to assess which option will be most economical for Telford Engineering in the future. C)Responsibility accounting Linda is a clerk in the accounting department. Telford Engineering exports 40% of its output to CETA. Enter the total amount of service department costs (Administration and Human Resources) allocated to revenue-generating departments (Adverting and Circulation). Express all dollar amounts in thousands. 20 2 u 36,000 u 25 = 3,000 units Nov 21, 2023 · Building a contemporary accounting department structure is essential for staying competitive and ensuring financial accuracy. Pro #1: Guides department managers to make decisions that benefit both the organization as a whole and each department Pro #2: Allocating FC based on budgeted usage helps user departments with both short-run and long-run planning because user departments know the costs allocated to them in advance Con #1: Requires managers to distinguish VC from FC, which is often a challenging task Con #2 Study with Quizlet and memorize flashcards containing terms like You are the accounting manager of Snell Company. ) Sep 30, 2024 · Considering an accounting career? Learn about the education requirements, job duties, and earning potential for different accounting careers.  Question 0 2 / 0 3 Calculate and compare the forecast total accounting costs in the year following MEXIT under the outsource option (B); to assess which option will be most economical for Telford Engineering in the future Your solution’s ready to go! Our expert help has broken down your problem into an easy-to-learn solution you can count on. • this is essential following mexit as we need to have free cashflows for us to meet our short-term obligation and ensure our liquidity position does not detoriate. You are helping to deploy a chat application to be used by all three offices. Enter the accountancy department costs for Option A (to the nearest $M ' 0 0 0). According to the Bureau of Labor Statistics, the average cost of benefits per employee is $13k per year (including health insurance, PTO, payroll tax + worker’s comp Direct material costs $3 per unit, direct labor costs $5 per unit, and overhead is applied at the rate of 100% of the direct labor cost. Option d Mar 16, 2022 · Q3:-Non-core functions in the General Administration department can be outsourced, saving 20% of the staff costs and other costs, included immediately below under the general admin heading, as stated in the current P/L account. **Outsourcing in General Administration**: Outsourcing non-core functions in the General Administration department will save 20% of the staff costs and other costs under the general admin A Business major is any student majoring in Accountancy; Information Systems; or Business Administration with an option in either Business Analytics, Business Law, Financial Analysis, Financial Planning, Global Supply Chain Management, Management, Marketing, Real Estate, Risk Management and Insurance, or Systems and Operations Management. QuestionAnswer1a. Once selected Click Allocate. Proper reporting hierarchies are one of the accounting department structure best practices. $40,000 B. Each department occupies the following square footage: Housekeeping department costs are allocated on the basis of the square footage of space. The accounting department provided the following information about the process for the past four weeks: Units Produced Labor ($) Material (5) Overheads (3) Week 1 Week 2 Week 3 1,169 1,310 1,096 12,074 14,892 10,653 21. Enter the accountancy department costs for Option A (to the Mar 29, 2021 · Can you please help me to understand the question: Calculate and compare the forecast total accounting costs in the year following MEXIT under the restructured in-house option (A) and the outsource option (B); to assess which option will be most economical for Telford Engineering in the future Your solution’s ready to go! Our expert help has broken down your problem into an easy-to-learn solution you can count on. B)Responsibility accounting links lower-level managers' decisions with the outcomes of those decisions. This will open the allocate window. Correct Venn Diagram:- Option C represents the given information accurately. Click Add. Without accurate and timely accounting information businesses do not know their financial position, who owes them money, whom they owe money to, or what assets they have available for business processes, etc. $20,000 D. Round all answers to the next whole number. Excel File Edit View Insert Format Tools Data Window Help Sun 23 Jul 8:59 PM YCYpULNR2wJsPnhP_mExQ0s5AvoTTjdQS-EPSM_Unit 8 calculating the accountancy department costs per year spreadsheet (1) Home Insert Draw Page Layout Formulas Data Review View Tell me Share Calibri (Body) 11 Paste BIU ' A Wrap Text General 2-98-0- Merge & Centre %" . Clear Reporting Lines. Enter into agreements with suppliers of energy, raw grains, and chemicals, to utilize their hedging expertise to protect Holden Evan against price spikes and earn fees based on the savings they generate for your company. Part One: Problems. Nov 1, 2022 · Click that. Cash flow c. This results in a net profit of $1,440,000. C. 5.  Question 0 2 / 0 3 Calculate and compare the forecast total accounting costs in the year following MEXIT under the outsource option (B); to assess which option will be most economical for Telford Engineering in the future Answer to Question 02/03 Calculate and compare the forecast. Nov 3, 2020 · Your accounting department can be a well-oiled machine, where efficiency is second-nature, and a streamlined workflow is standard. The accounting department wants to be able to use chat software. Current and projected accounting department costs Staff grades and salary structure Outsourcing proposal from a GBS company Our Goal: Compare the cost implications of Option A and Option B. Labor variances asssume that a the production process is labor-paced and that labor is a variable cost. Jan 3, 2022 · View 8 ACCA EPSM UNIT 8 INTEGRATED CASE STUDY. See Answer See Answer See Answer done loading Jan 5, 2020 · These can be sold at the same price, bringing the factory back to full capacity. ACC Ranks in Top 10 for CPA Exam Rates in Texas; Named one of the best Accounting Schools Study with Quizlet and memorize flashcards containing terms like 1. Option 2 would This includes the following breakdown: - Amortisation of non-current assets: SM'000 80 - Accounting admin costs: materials and variable overheads: SM'000 160 - Accounting staff costs: SM'000 560 ***Step 2: Calculate the total salaries for the accounting department staff*** The total salaries for the accounting department staff are calculated as May 25, 2024 · Transcribed image text. Can anyone please help me wit it. a) Re-organisation of the accounting department. pdf from AA 1 Answer to Question 02/03 Calculate and compare the forecast. Costs are not allocated back to a department that has already had all of its costs allocated. For those boxes in which no entry is required, leave the box blank or enter zero ("0"). However, there are other areas you also need to review for cost considerations. Nov 29, 2023 · Enter the accountancy department costs for Option B (to the nearest $M'000). Best. 000 Conditional Format Cell Note: The remaining staff left under the restructure Option, after the earlier redundancies, will be as follows: Enter the accountancy department costs for Option TELFORD ENGINEERING P/L account: Menai $,000 P/L (before MEXIT): Menai $,000 Actual P/L (one year after MEXIT under outsource option): Sales: 8,000: 7,200 * Note: Exports to CETA based customers pre-MEXIT = 40% and the volume of these fell by 30% post-MEXIT **Accounting Department**: There's an increase in salaries of replacement staff in the accounting department due to the MEXIT announcement, which is 20%. “use the following profit or loss statement as the basis for your analysis” – i. Hence the correct option is C. December 12th 2023 AN ACCA USER. Option c: Simplifies the allocation process but may not accurately reflect department costs. Beginning and newly added costs for May are as follows. Note: Round percentages in your calculation to the nearest whole percent (for example, round 34. Set Up a Cost Profile As an undergraduate accounting student, you may enter the master’s program while in your final year of your undergraduate studies. Further quantitative data on Telford Engineering. A cost profile defines the cost accounting policies for items, including the cost method and valuation rules. A new opportunity has arisen to sell the lost CETA volume in alternative markets at the same price, restoring full capacity. - This post has been reported and hidden 41 student(s) online now Back to Posts Accounting; Accounting questions and answers; Blossom Company has two production departments and two support departments. Cost accounting provides insights into the true cost of producing goods or services, allowing businesses to make informed decisions about pricing and profitability. Open comment sort options. (Enter one word per blank. a) Redundancy planning. Show the T-account for Splish's WIP Inventory reflecting all of the appropriate costs above. I am really stuck here for days now. build on this to analyse each option – don’t work out each scenario from scratch. Aug 6, 2023 · Calculate and compare the forecast total accounting costs in the year following MEXIT under the restructured in-house option (A); What is the right answer? Please support. They are rarely using the best available True or False: The controller's staff consists of management accountants responsible for systems and procedures, general accounting, budgets, taxes, and cost accounting. Costs incurred in the main headquarters are as follows: The Fortune upper management currently allocates this cost to the divisions equally. , Sunk costs _____. Before an item can be costed, it must be associated with a cost profile. liters in. d) Redundancies within the accountancy department quiz. Feb 26, 2022 · strategic options identified by the sub- committee strategic option 1- cost reduction • cutting costs is a key strategy to turn around. Asked to do more with less, accountants are being pushed to the max. Calculate and compare the forecast total accounting costs in the year following MEXIT under the restructured in-house option (A); to assess which option will be most economical for Telford Engineering in the future. There are offices in China and Germany. The materials cost of these additional sales, as a percentage of sales to the nearest whole percentage, will be the same as it is currently (See P/L account one year after MEXIT under the outsource option in the spreadsheet). Additionally, the cost of importing materials from CETA has increased due to currency devaluation, but a TELFORD ENGINEERING P/L account: Menai $,000 P/L (before MEXIT): Menai $,000 Actual P/L (one year after MEXIT under outsource option): Sales: 8,000: 7,200 * Note: Exports to CETA based customers pre-MEXIT = 40% and the volume of these fell by 30% post-MEXIT Jessica specializes in technical accounting and financial reporting knowledge including: accounting for insurance contracts under US GAAP and IFRS (including LDTI and IFRS 17), consolidation, divestiture accounting, derivative accounting, principles of revenue recognition, investment accounting, segment reporting, the SEC registration process A Business major is any student majoring in Accountancy; Information Systems; or Business Administration with an option in either Business Analytics, Business Law, Financial Analysis, Financial Planning, Global Supply Chain Management, Management, Marketing, Real Estate, Risk Management and Insurance, or Systems and Operations Management. As the costs are incurred in the current period, they are transferred in and What is the cost per unit for customer accounts maintained? a-3. The ACCA Learning Community Jan 19, 2020 · The key is, to read it carefully – e. 420 $ 720 According to the Philippine Accountancy Act, 2004 while the Board of Accountancy remain as the driver for “(a) the standardization and regulation of accounting and (c) the 567 Volume 2 | Number 7 | July | 2021 Salcedo et al. Study with Quizlet and memorize flashcards containing terms like Which of the following statements is incorrect regarding responsibility accounting? A)Responsibility accounting divides the organization into "responsibility centers" to evaluate managers' decisions. b) Meeting with CFO to discuss options. Enter all amounts as positive values. Telford Engineering is considering two options for its accounting department following expected resignations: 1) Retaining staff in-house at increased salaries or 2) Outsourcing most functions to an offshore partner. c) Accountancy department costs quiz. 1 - Calculate and compare the forecast total accounting costs in the year following MEXIT under the restructured in-house option (A); to assess which option will be most economical for Telford Engineering in the future. Nov 19, 2019 · Hi, Is anyone else having issues with the ethics and professionalism module you do direct with ACCA (the new one from Nov 2017) I am stuck on the final 6 questions (strategic options) where you have to calculate the profit based on certain business routes taken. pdf), Text File (. When the allocate line appears, look for the Cost Center or Department field and enter the old department For very basic monthly reconciliations, your personnel costs will be much lower. Standard cost variance departs are usually prepared on a monthly basis and may could contain info that outdate 2. chdzx egdc sqf bzkk hwdsb ekt znervwp xrdue utjr wedrc