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Discussion Assignment for ACT500 Managerial Accounting
Discussion Assignment for ACT500 Managerial Accounting
[100 marks] Assignment Question(s):
Salah Surf Boards creates one-of-a-kind boards for competitive surfers. Customers’ requests for materials and the amount of direct work necessary for the finishing process determine the size of the boards.
For 20×5, the following costs are estimated:
The total number of surfboards is 3,000.
45,000 hours of direct labor
The cost of direct materials was SAR 175,000.
SAR 900,000 in direct labor costs
SAR 675,000 was spent on overhead.
Actual costs for 20×5 were as follows:
The total number of surfboards is 3,300.
46,300 hours of direct work
SAR 185,000 for direct materials
SAR 850,000 for direct labor
SAR 664,000 in overhead
a. Explain why this organization should use task costing rather than process costing. [25 points]
b. Salah employs a standard costing system. Overheard is distributed according to direct labor hours. Calculate the cost of making a surfboard with SAR 150 in direct materials and 36 hours of direct labor. [25 points]
c. How much overhead had been assigned to production by the conclusion of 20×5? [25 points]
d. Is the overhead applied too much or too little, and by how much? [20 points]
a. Assume that any overhead that is over or underutilized is added to the cost of products sold. Prepare the adjustment’s journal entry. [5 points]
Discussion Assignment for ACT500 Managerial Accounting
RUBRIC |
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Excellent Quality 95-100%
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Introduction
45-41 points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned. |
Literature Support 91-84 points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned. |
Methodology 58-53 points Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met. |
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Average Score 50-85% |
40-38 points More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided. |
83-76 points Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration. |
52-49 points Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met. |
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Poor Quality 0-45% |
37-1 points The background and/or significance are missing. No search history information is provided. |
75-1 points Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration. |
48-1 points There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met |
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Discussion Assignment for ACT500 Managerial Accounting