{"id":109360,"date":"2022-12-10T02:54:27","date_gmt":"2022-12-10T02:54:27","guid":{"rendered":"https:\/\/assignmenttutors.net\/blog\/financial-and-managerial-accounting-business-finance-homework-help\/"},"modified":"2022-12-10T02:54:27","modified_gmt":"2022-12-10T02:54:27","slug":"financial-and-managerial-accounting-business-finance-homework-help","status":"publish","type":"post","link":"https:\/\/assignmenttutors.net\/blog\/financial-and-managerial-accounting-business-finance-homework-help\/","title":{"rendered":"Financial and managerial accounting | Business &#038; Finance homework help"},"content":{"rendered":"<div>\n<h4><span>\u00a0<\/span><\/h4>\n<h4><span>Part 1 \u2013 Financial Analysis<\/span><\/h4>\n<p><span>Peter is a self employed music teacher and has the following trial balance:<\/span><\/p>\n<p><span>\u00a0<\/span><\/p>\n<p><span>Trial Balance as at 30 June 2013<\/span><\/p>\n<p><span>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0 Debit \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Credit<\/span><\/p>\n<p><span>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a3\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a3<\/span><\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td valign=\"top\" width=\"213\">\n<p><span>Instruments<\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"213\">\n<p><span>1,500<\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"213\">\n<p><span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" width=\"213\">\n<p><span>Furniture<\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"213\">\n<p><span>400<\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"213\">\n<p><span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" width=\"213\">\n<p><span>Rent for room<\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"213\">\n<p><span>2,400<\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"213\">\n<p><span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" width=\"213\">\n<p><span>Computer<\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"213\">\n<p><span>1,000<\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"213\">\n<p><span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" width=\"213\">\n<p><span>Fees from tuition<\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"213\">\n<p><span>\u00a0<\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"213\">\n<p><span>10,500<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" width=\"213\">\n<p><span>General expenses<\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"213\">\n<p><span>1,000<\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"213\">\n<p><span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" width=\"213\">\n<p><span>Capital<\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"213\">\n<p><span>\u00a0<\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"213\">\n<p><span>3,550<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" width=\"213\">\n<p><span>Bank<\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"213\">\n<p><span>1,500<\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"213\">\n<p><span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" width=\"213\">\n<p><span>Postage and stationery<\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"213\">\n<p><span>50<\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"213\">\n<p><span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" width=\"213\">\n<p><span>Electricity<\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"213\">\n<p><span>300<\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"213\">\n<p><span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" width=\"213\">\n<p><span>Advertising<\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"213\">\n<p><span>300<\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"213\">\n<p><span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" width=\"213\">\n<p><span>Creditors<\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"213\">\n<p><span>\u00a0<\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"213\">\n<p><span>150<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" width=\"213\">\n<p><span>Debtors<\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"213\">\n<p><span>350<\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"213\">\n<p><span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" width=\"213\">\n<p><span>Telephone<\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"213\">\n<p><span>400<\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"213\">\n<p><span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" width=\"213\">\n<p><span>Drawings<\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"213\">\n<p><span>5000<\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"213\">\n<p><span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" width=\"213\">\n<p><span>\u00a0<\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"213\">\n<p><strong><span>14200<\/span><\/strong><\/p>\n<\/td>\n<td valign=\"top\" width=\"213\">\n<p><strong><span>14200<\/span><\/strong><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span>\u00a0<\/span><\/p>\n<p><span>Note: In this case, there are no trading purchases.<\/span><\/p>\n<p><span>\u00a0<\/span><\/p>\n<p><span>Required:<\/span><\/p>\n<p><span>1)<span>\u00a0\u00a0\u00a0 <\/span><\/span><span>Prepare Peter Income Statement for the year ended 30 June 2013 and a Balance Sheet as at 30 June 2013.<\/span><\/p>\n<p><span>(30 marks)<\/span><\/p>\n<p><span>2)<span>\u00a0\u00a0\u00a0 <\/span><\/span><span>Briefly research and discuss the changes in international regulation for reporting financial statements. In particular the changes to the names of profit and loss account.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><\/p>\n<p><span>(20 marks)<\/span><\/p>\n<p><span>\u00a0<\/span><\/p>\n<p><span>\u00a0<\/span><\/p>\n<p><span>\u00a0<\/span><\/p>\n<p><span>\u00a0<\/span><\/p>\n<h4><span>Part 2 \u2013 Performance Evaluation<\/span><\/h4>\n<p><span>\u00a0<\/span><\/p>\n<p><span>The comparative condensed income statements of SPENCER Corporation are shown below.<\/span><\/p>\n<p><span>SPENCER CORPORATION<\/span><\/p>\n<p><span>Comparative Condensed Income Statements<\/span><\/p>\n<p><span>For the Years Ended December 31<\/span><\/p>\n<p><span>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <span>\u00a0\u00a0\u00a0 2013\u00a0\u00a0\u00a0 <\/span>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <span>\u00a0\u00a0\u00a0\u00a02012\u00a0\u00a0\u00a0 <\/span>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><\/p>\n<p><span>Net sales\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 $620,000\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 $500,000<\/span><\/p>\n<p><span>Cost of goods sold\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <span> 450,000<\/span>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <span>\u00a0 400,000<\/span><\/span><\/p>\n<p><span>Gross profit\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 170,000\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 100,000<\/span><\/p>\n<p><span>Operating expenses\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <span>\u00a0\u00a0 54,000<\/span>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <span>\u00a0\u00a0\u00a0 40,000<\/span><\/span><\/p>\n<p><span>Net income\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <span>$116,000<\/span>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <span>$\u00a0 60,000<\/span><\/span><\/p>\n<p><span>\u00a0<\/span><\/p>\n<p><strong><span>Instructions<\/span><\/strong><\/p>\n<p><span>(a)\u00a0\u00a0 Prepare a horizontal analysis of the income statement data for SPENCER Corporation using 2013 as a base. (Show the amounts of increase or decrease.)<\/span><\/p>\n<p><span>(b)\u00a0\u00a0 Prepare a vertical analysis of the income statement data for SPENCER Corporation in columnar form for both years.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span>\u00a0<\/span><span>Question 1 &#8211; Costing<\/span><\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" name=\"_Hlk284444319\"><span><span>\u00a0<\/span><\/span><\/p>\n<p><span>Cakes2Go is a company which manufactures and sells three types of cakes in packets. One of them is called HoneyCake and contains three types of sweeteners: honey, sugar and syrup. The standard materials usage and cost for one unit of HoneyCake (one packet) is as follows:<\/span><\/p>\n<p><span>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a3<\/span><\/p>\n<table border=\"0\">\n<tbody>\n<tr>\n<td valign=\"top\" width=\"102\">\n<p><span>Honey <\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"324\">\n<p><span>20 grams at \u00a30\u00b702 per gram<\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"213\">\n<p><span>0\u00b740<\/span><\/p>\n<p><span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" width=\"102\">\n<p><span>Sugar <\/span><\/p>\n<p><span>\u00a0<\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"324\">\n<p><span>15 grams at \u00a30.03 per gram<\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"213\">\n<p><span>0\u00b745<\/span><\/p>\n<p><span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" width=\"102\">\n<p><span>Syrup<\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"324\">\n<p><span>10 grams at \u00a30\u00b7025 per gram<\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"213\">\n<p><span>0\u00b725<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" width=\"102\">\n<p><span>\u00a0<\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"324\">\n<p><span>\u00a0<\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"213\">\n<p><span>\u2013\u2013\u2013\u2013\u2013<\/span><\/p>\n<p><span>1\u00b710<\/span><\/p>\n<p><span>\u2013\u2013\u2013\u2013\u2013<\/span><\/p>\n<p><span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span>In the three months ended 30 November 2012, Cakes2Go produced 101,000 units of HoneyCake using 2,200 kg of honey, 1,400 kg of sugar and 1,050 kg of syrup. Note: there are 1,000 grams in a kilogram (kg).<\/span><\/p>\n<p><span>Cakes2Go has used activity-based costing to allocate its overheads for a number of years. One of its main overheads is machine set-up costs. In the three months ended 30 November 2012, the following information was available in relation to set-up costs<\/span><\/p>\n<p><span>\u00a0<\/span><\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td valign=\"top\" width=\"319\">\n<p><span>Budget<\/span><\/p>\n<p><span>Total number of units produced <\/span><\/p>\n<p><span>Total number of set ups<\/span><\/p>\n<p><span>Total set-up costs<\/span><\/p>\n<p><span>\u00a0<\/span><\/p>\n<p><span>Actual<\/span><\/p>\n<p><span>Total number of units produced<\/span><\/p>\n<p><span>Total number of set ups<\/span><\/p>\n<p><span>Total set-up costs<\/span><\/p>\n<p><span>\u00a0<\/span><\/p>\n<\/td>\n<td valign=\"top\" width=\"319\">\n<p><span>\u00a0<\/span><\/p>\n<p><span>264,000<\/span><\/p>\n<p><span>330<\/span><\/p>\n<p><span>\u00a352,800<\/span><\/p>\n<p><span>\u00a0<\/span><\/p>\n<p><span>\u00a0<\/span><\/p>\n<p><span>320,000<\/span><\/p>\n<p><span>360<\/span><\/p>\n<p><span>\u00a360,000<\/span><\/p>\n<p><span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span>\u00a0<\/span><\/p>\n<p><span>Required:<\/span><\/p>\n<p><span>(a) Calculate the following variances for materials in HoneyCake:<\/span><\/p>\n<p><span>(i) Total materials usage variance;\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><\/p>\n<p><span>\u00a0(ii) Total materials mix variance;<\/span><\/p>\n<p><span>\u00a0(iii) Total materials quantity (yield) variance.<\/span><\/p>\n<p><span>\u00a0(b) Calculate the following activity-based variances in relation to the set-up cost of the machines:<\/span><\/p>\n<p><span>(i) The expenditure variance;<\/span><\/p>\n<p><span>\u00a0(ii) The efficiency variance.<\/span><\/p>\n<p><span>\u00a0(c) Briefly outline the steps involved in allocating overheads using activity based costing.<\/span><\/p>\n<p><span>(50 marks)<\/span><\/p>\n<p><span>\u00a0<\/span><\/p>\n<p><span>Question 2 \u2013 Budgeting<\/span><\/p>\n<p><span>\u00a0<\/span><\/p>\n<p><span>Write an essay of 1000 words demonstrating your conceptual understanding of the following questions.\u00a0 <\/span><\/p>\n<p><span>\u00a0<\/span><\/p>\n<ol>\n<li><span>Is budgeting used primarily for scorekeeping, attention, directing or problem solving?<\/span><\/li>\n<li><span>How do strategic planning, long range planning and budgeting differ?<\/span><\/li>\n<li><span>Why is budgeted performance better than past performance as a basis for judging actual results?<\/span><\/li>\n<li><span>What are the major benefits of budgeting? <\/span><\/li>\n<li><span>Is budgeting an unnecessary burden for day to day problems? Explain your answer.<\/span><\/li>\n<li><span>Why is the sales forecast the starting point for budgeting?<\/span><\/li>\n<li><span>How do Spreadsheets aid the application of sensitivity analysis?<\/span><\/li>\n<\/ol>\n<p><span>\u00a0<\/span><\/p>\n<p><span>\u00a0<\/span><span>(50 marks)<\/span><\/p>\n<p><span>\u00a0<\/span><\/p>\n<p><span>Total (100 marks)<\/span><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0 Part 1 \u2013 Financial Analysis Peter is a self employed music teacher and has the following trial balance: \u00a0 Trial Balance as at 30 June 2013 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0 Debit \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Credit \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a3\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a3 Instruments 1,500 \u00a0 Furniture 400 \u00a0 Rent for room 2,400 \u00a0 Computer 1,000 \u00a0 Fees from tuition \u00a0 10,500 General [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"class_list":["post-109360","post","type-post","status-publish","format-standard","hentry","category-education"],"_links":{"self":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/109360","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/comments?post=109360"}],"version-history":[{"count":0,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/109360\/revisions"}],"wp:attachment":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/media?parent=109360"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/categories?post=109360"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/tags?post=109360"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}