ACC203 ASSIGNMENT

ACC203 ASSIGNMENT
one cover sheet with your SID and name. Please answer all questions including all working process, and submit your assignment through Moodie.
The deadline is at 23:59 on 3010512020, 10, penalty for one day late.
Use your SID and name to be the name of the file.
Question 1– Case Study (Total 18 marks)
Adios Pty Ltd manufactures shower towels for two local football teams in Sydney. The towels are made from fabric with a logo design. by Bayswater Logo design company. The teams are as follows: Vida Glow: with black towels and the Vida Glow logo Champ.: with blue towels and the Champion logo Also, the blue towels are slightly larger than the black towels. The budgeted direct-cost inputs for each towel in 2019 are as follows:
Vida Glow shower towel
Champion shower towel
Black fabric (yard)
5
Blue fabric(yard) Logo patches for each towel I Direct manufacturing labor hours
6
4
5
Inventory at stock for Adios in March 2019 are as follows:
_ Vida Glow shower towel Champion shower towel Black fabric (yard) 01103/2019 40 31/03/2019 30 01/03/2019 — 31/03/2019 — Blue fabric(yard) 0 — 20 20 Logo patches for each towel 50 30 65 30
Unit cost data for direct-cost inputs D*10ininq to February 2019 and March 2019 are as folows:
Feb2019 (actual) March 2019 (budgeted) 131adc fabric (Per Yard) Blue fabric(per yard) $10 14 $11 13 Logo patches for Vida Glow (Per patch) Logo for Champion (Per patch) 8 7 8 9 Manufacturing labor cost per hour 27 28

The budgeted fixed manufacturing ove.ead for March 2019 is $17,625. Both variable and fixed manufacturing overhead costs are allocated to each unit of finish. goods.
Finished-goods inventory for March 2019 are as following,
Vida Glow shower towel
Champion shower towel
Beginning inventory in units
14
20
Beginning inventory in dollars
$1960
$ 2945
Target ending inventory in units
24
30
Budgeted sales for March 2019 are 150 units of the Vida Glow towels and 205 units of the Champion shower towel. The budgeted selling prices per unit in Ma. 2019 are $315 for the Vida Glow towels and $385 for the Champion towels. Assume the following in your answer:
• Work-in-process inventories are negligible and ignored. • Direct materials inventory and finished-goods inventory are cost. using the FIFO method. • Unit costs of direct materials purchased and finished goods are constant in Ma. 2017.
You need to: 1. Prepare the following budgets for March 2019: a. Revenues budget (1 mark) b. Production budget in units (2 mark) c. Direct material usage budget and direct materials purchases budget (3 mark) d. Direct manufacturing labor costs budget (1 mark) e. Manufacturing overhead costs budget (2 ma.) f. Ending inventories budget (direct materials and finish. goods) (3 ma.) g. Cost of goods sold budget (2 mark)
2.Suppose Adias Pry Ltd decides to incorporate continuous improvement into its budgeting process. Describe two areas where it could incorporate continuous improvement into the budget schedules in requirement 1. (4 mark)
Question 2 — Variance Analysis and report (8 marks)
Elite Sweet Pty Ltd is a company that only sells Halloween candies in Australia. Due to the delicate shapes of candies, this company employed a great deal of high skill. employees. T. following information is generated from the company in June 2019. Note the candy was sold in a 12-piece box.

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External Environmental Analysis: Analyze the current situation as described in the case, collect information from authentic sources like firm’s website and must include: A. The firm B. The industry the firm operates in C. Competition D. Major Challenges the firm/industry faced with
The firms Business Strategy: What strategy the firm has adopted (`Cost Leadership’, ‘Differentiation’, ‘Cost Focus’ or ‘Differentiation Focus’) and what are its implications on firm’s economic performance.
Internal Environmental Analysis of the Firm:
You could discuss issues from the following:
• Internal environment. • Rivalry in the industry. • Market growth rate • Firm’s market share. • Firms resources, capabilities, competencies, core competencies and distinctive competences. • Use an appropriate strategic management analysis tool to analyze the situation. Pei form SWOT Analysis:
What Did I Learn from this case study: Answers to the questions (If any): References (APA Format)