MULTIMEDIA ro | UNIVERSITY STUDENT IDENTIFICATION NO MULTIMEDIA UNIVERSITY THIRD TRIMFSILR SUPPLEMENTARY EXAMINATION, 2008/2009 SESSION BAC1624 - MANAGEMENT ACCOUNTING 1 (All scetion / Groups) 19 June 2009 9.00 am ~ 12 noon 3 Hours INSTRUCTION TO STUDENT 1. This Question paper consists of 5 pages with 5 Questions only. 2, Attempt ALL questions. 3, Please print all your answers in the Answer Booklet provided.actos MARACEMENT ACCOUNTING | May 2009 QUESTION 1 (20 MARKS! Geegreenthamb Landscape Design Bhd designs landscape plans and plants for the material for clients. On April 1, there were 3 jobs in process. Job 68, 69,70. During April, two more jobs were started. Job 71 and 72. By April 30, Jobs 69, 79 and 72 were completed and sold. The following data were gathered Job 68 Job6o Sob70, Job 71 Job 72 L (RM) ayy | avy | @mM | ep | 4/1 balance: 540 1,230 990 G 6 Direct material | 760 560 B 3500 2750 Direct labor 500 600 90 2500 2600 Overhead applied is applied at the rate of 120% of direct labor cost, Jobs are sold at cost plus 40 pervent. Operating expenses for April total RM3.670 Required: i. Prepare job order cost sheets for each job as at 30April. ( 10 marks) ii Caleulate the ending balance in Work in Process (a6 at April 30) and Cost of good sold for Apri (4 marks) iii. Prepare an income statement for Geegreenthumb T.andscape desiga for the month of April. (4 marks) iv. Describe the differences between job order costing and process costing, and identify the types of firms that would usc each method. (2 marks) (Total: 20 marks) ‘MMZIGCY Page 1 of 5patie MANAGEMENT ACCOUNTING 1 av 2009 QUESTION 2 (20 MARKS) Colgate manufacturing company which uses the weighted average method produces a product that passes through 2 departments: Mixing and Cooking. In the Mixing departinent all materials arc added unifomnly, the following information pertaining to the Ammoxtgiantfg Abas Piwwos (us i jg cevmanes yay A MUU puainan 6 presents complere with respect to conversion costs. The costs assigned to this work is as follows: Material: RM20,000, Labor: RM0,000 Overhead: RM30,000 b. Ending work in process (EWIP), February 28: 50,000 pounds, 60 peroent complete with respect to conversion costs. Units completed and transferred out: 370,000 pounds. The following costs were added during the month: Material: RM 211,000, Labor: RM 100,000 and Overhead :RM270,000 Required: Prepare a physical flow schedule. ( 4 marks) ii, Prepare a schedule of equivalent units. (4 marks) ii, Compute the cost per equivalent units. (4 marks) iv. Compute the cost of goods teansferred out and the cost of ending work in process. (4 marks) v. Prepare cost reconciliation. (4 marks) (Total: 20 marks) MMZIOCY Page Zot