Cost and Management Accounting Discussion Paper

Cost and Management Accounting Discussion Paper

Instructions/Descriptions

Cost and Management Accounting Discussion Paper

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Q1. Calculate B.E.P. in units from the following Information: (3 marks)

(a) Sales $ 100,000, Variable Cost $, 50,000, Profit $, 20,000, Units Produced=5000 units

(b) Fixed Cost $= 40,000, Selling price $= 80, Variable cost $= 40

Answer:

Q2. Prepare Journal Entries from the following information relating to Job Costing. (4 marks)

1. a) The material storeroom receives a shipment of direct and indirect materials that cost $ 12,000.
2. b) Materials are sent to the stamping and assembly areas. The Cost of the direct materials is $ 1,500 and the cost of the indirect materials is $ 900.

c)Wages totaling $ 2,000 are accrued; 80 % of these costs are direct labor and 20% are indirect labor.

d)Overhead costs are allocated to work in process using an allocation rate of 150% of direct labor costs.

1. e) Job No. 1205, with a total cost of $ 2,500 is completed.
2. f) Job No. 1205 is shipped to the customer, who is billed for $ 5,000.

Answer:

Q3. In your own words, discuss how WA and FIFO calculate EUP. Give proper examples. (1.5 marks)

Answer:

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Q4. What are “Transferred-in costs” and Spoilage costs? And how they affect EUP calculations? (1.5 marks)

President and Congress Discussion on Followership

Discussion Board questions must be answered thoroughly. Must be APA format, answer thoroughly, must have at least 1-2 verifiable legitimate sources, 300 no less than 250 words as per the instructions answering thoroughly Due Wednesday October 2, 2019. By 11:59 EST. Plagiarism Free. 24 hours.

In a new thread with 300 words or less, and reply to at least two of your classmates, answer the following questions.  Followership – We have been studying and writing about leadership for the past six weeks.  Just as important is followership.  Each one of us has a boss, even the President and Congress, their constituents.  If you are a CEO, you have the board of directors and stock holders as a boss, and the Chairman of the Joint Chiefs of Staff, the President as a boss.  To be a great leader you must be a great follower.  You have done some extensive self-reflection in your assignments, apply that same critical evaluation of yourself to answer the following questions.  Have you mastered followership, in that you are an excellent performer of your craft, and at the same time control your ego?  As a follower, do you like to be led, in the same manner in which you lead?  Following is an individual commitment, leadership takes a group commitment, are you naturally more comfortable being a follower, or a leader?

There are two discussions here that need to be responded to thoroughly. Responses must be on APA format 150+words 1-2 legitimate verifiable sources per response. Due by 11 PM EST Wednesday October 2, 2019. 11:59 PM 24 hours.

#1

Lowe’s Discussion Post:

I’m glad that the topic of followership is being discussed this week.  I read an article years ago about the importance of followership and I truly bought in to the concept.  I very much believe in the value of quality followership as good followers make good leaders look even better.  Without followers, who do the leaders actually lead?  In my opinion, it is essential for all good leaders to understand how to be good followers before they can be good leaders.  It cannot stop there though.  Once in a leadership position, the leader must continue recognizing and rewarding good followership.

Throughout my years as a worker, or grunt as some would refer to the junior ranks, I believe that I was an excellent follower; ego has never been an issue for me.  Work ethic has always been one of my strengths and regardless of what position I am in, I take direction and tasking and run with it.  I have worked for good leaders and bad ones, but I have never allowed the bad ones to shape my followership as I always try to remain focused on the bigger picture.  I believe in hard work and that those who aspire to lead will not get there overnight.  They must first perfect followership before they can be promoted into a leadership role.  I’ve never been in position where I didn’t have a boss, so essentially, even when I have been a supervisor or manager, I still had to practice good followership.

Response:

#2

Reynolds Discussion Post:

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In terms of followership, I would evaluate myself to be an excellent follower.  I hesitate to say I ma excellent in my craft as I still have things to learn and there those who are better than me at in my department, but I have been in the department for 19 years, am a supervisor and am entrusted with duties not all officers are allowed to do.   I feel I do keep my ego in check while in the position I work.  I am about the job, completing the details of the job and not just interested in the headline. While being recognized for the work that went into the project is appreciated, it is most times not why I took on the project in the first place.  I am about giving credit where credit is due. If I play a large role on a project, my name should be out front like everyone else’s. If I just play a support role, even to my subordinates, on a project my name should be in the background even if I outrank those working on the project.

I do prefer to be led in the fashion in which I practice. Leaders who are motivated by headlines but lack in the substance of completing projects are not my preferred leaders to work for. Building a personal “brand” instead of being authentic and doing the job as prescribed, the leader does what they can to make themselves look important and in position for advancement. This style of leadership is superficial and causes others to think someone is something they are really not.

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To this point in my life I have found myself most comfortable in the position most like an executive officer.  I am comfortable in my skills but at times am hesitant to make a decision because of wanting to complete the mission in the way my superior would want me to rather than just accomplishing the mission in a way I would personally do it.  I can be trusted by my superior to carry out instructions and supervise those working on the project so I would say I am most comfortable somewhere in between a leader and a follower.

Response #2

Cost and Management Accounting Discussion Paper

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