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BACC216 Management Accounting

05 / 03 / 2018 Assignment

This paper circulates around the core theme of BACC216 Management Accounting together with its essential aspects. It has been reviewed and purchased by the majority of students thus, this paper is rated 4.8 out of 5 points by the students. In addition to this, the price of this paper commences from £ 89. To get this paper written from the scratch, order this assignment now. 100% confidential, 100% plagiarism-free.

PART 1: Group Assignment (Case Study): (this must be completed as a group of two). Calculations equivalent to 1,000 words. The Group Assignment (Case Study) represents 20% of your assessment in Management Accounting 2. The Group Assignment is due 11.59 pm, 28 August 2016.
Required 1. Using the information in the case and Tables 1 – 5, prepare a flexible budget for the Teddy Bear Toy Company for the year ended June 30, 2016. Analyse the company’s total master (static) budget variance for the year. Compare the flexible and the master (static) budgets and prepare a schedule showing the sales volume variance. Compare the actual results and the flexible budget variance. Subdivide the flexible budget variances into the appropriate price (rate or spending) and efficiency (usage or quantity) variances for materials, labour and variable overhead. Tip: Use an Excel spreadsheet for your calculations.
2. Compute the bonuses earned in fiscal 2016, if any by Ben Hamilton of the purchasing department, Jennifer Boyce of the marketing department and Bill Maxwell of the production department. Tip: Use an Excel Spreadsheet for your calculations.
PART 2 Report (this part is completed as an individual and must be in report format). Approximately one week after Part 1 has been submitted by students, the correct variances and bonuses will be published on the Moodle site. Please use the correct variances and bonuses when preparing your report for submission. Your report must be 1,000 words or under. Information on the format of a report is on the Moodle site, assignments submitted that are not in report format will be severely penalised.
Required: 1. You will be assisting in the investigation of certain variances. Using the information provided formulate some likely explanations for the observed variances.
2. Comment on the advantages and disadvantages of the incentive plan as it applies to department heads. What is the appropriate role of the budget in performance evaluation? What modifications to the incentive plan would you recommend? Why?
3. Suppose that the Teddy Bear Toy Company adopts a balance scorecard to measure its performance. What performance dimensions are typically included in a balanced scorecard? What specific performance measures (indicators) might be included in Teddy Bear Toy Company’s balance scorecard? Use your textbook Langfield-Smith, Thorne, Smith and Hilton (2015) or other references for useful background information on the balanced scorecard. Remember you must correctly reference any sources you have used in preparing your report.


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