Learning Outcomes tested
CO1- explain various costing terms and approach to calculate cost
CO3- prepare budgeting and manufacturing schedule
CO5- suggest solutions to management accounting problem
Select a manufacturer that you are familiar with (it may be a small medium enterprise) and collect information related to this topic. Conduct an interview with the management of the manufacturer, to find out about the steps involved in their manufacturing processes.
You are then required to:
Analyzes the steps involved in the manufacturing processes, and based the costing methods that you have studied, evaluate the costing methods and the overhead allocation that the manufacturer has used. You need to assess whether the costing method used is suitable for the manufacturer and provide recommendations for improvement to the manufacturer.
Your work must be informed and supported by scholarly material that is relevant to and focused on the task(s) set. You should provide evidence that you have accessed a wide range of sources, which may be academic, governmental and industrial; these sources may include academic journal articles, textbooks, current news articles, organisational documents, and websites. You should consider the credibility of your sources; academic journals are normally highly credible sources while websites require careful consideration/selection and should be used sparingly. Any sources you use should be current and up to date, typically published within the last five years or so, though seminal works in the field may be older. You must provide evidence of your research/own reading throughout your work, using in-text citations in the main body of your work and a reference list that is alphabetical at the end of your work. Please use the APA referencing system.