Posted: September 10th, 2021

ACC203e Tutor-Marked Assignment Presentation Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage rial Accounting

ACC203e
Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage rial Accounting
Tutor-Marked Assignment
July 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online Presentation
ACC203e Tutor-Marked Assignment

This assignment is worth 14% of the final mark for ACC203e Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage rial Accounting.
The cut-off date for this assignment is 27 September 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online, 2355 hrs.
Note to Students:
You are to include the following particulars in your submission: Course Code, Title of the
TMA, SUSS PI No., Your Name, and Submission Date.
Take note of the following format and writing requirements. Marks will be penalised for
failure to follow requirements.
Format requirements:
 A properly formatted cover page: To include course code, course title, assessment title,
student name(s), student PI Number(s).
 For text, Font style: Times New Roman; Font size: 12; Line spacing: 1.5 lines.
 Include the page number on each page.
 Reference or bibliography at the end (use APA referencing guidelines).
Writing requirements:
 Develop your points in a clear, logical and succinct manner.
 Be mindful of the target audience/reader. Use language appropriate to the reader’s
expected level of knowledge.
 Free from grammatical and typographical errors.
 Provide in-text citations when referencing (use APA referencing guidelines).
 Include less relevant details as an appendix if necessary.
 Good overall presentation of the report.
ACC203e Tutor-Marked Assignment
SINGAPORE UNIVERSITY OF SOCIAL SCIENCES (SUSS) Page 3 of 5
Question 1
The financial controller of your company intends to create two new positions – a financial
accountant and a management accountant.
Required:
He has approached you to write a memorandum of not more than 400 words to the HR manager
to explain the differences between these two roles.
(25 marks)
Question 2
Great Eastern Holdings Limited is a leading insurance company in Singapore, Malaysia, and
other Asian countries.
The company operates through Life Assurance, General Assurance, and Shareholders
segments. The Life Assurance segment provides life, long-term health and accident, annuity,
and unit-linked insurance products. The General Assurance segment offers short term property
and casualty products, including fire or burglary insurance contracts and/or business
interruption contracts, and public liability insurance contracts; and short term medical and
personal accident general insurance products. This segment distributes its products through
bancassurance, agents, brokers, financial advisors, and direct channels. The Shareholders
segment provides fund management services for various products, such as the Asia Pacific
equities, and Asian and global fixed income securities portfolios for Singapore statutory
boards, government-linked corporations, public and private companies, insurance companies,
and charity organizations. The company is also involved in the asset management, and property
investment.[1]
In its 2017 Annual Report, the Chairman and Group CEO stated that they were glad to
announce a set of sterling results that showed improvement in profitability. This clearly showed
that the company has been able to deliver values for their shareholders and customers based on
clear and consistent strategies and the harnessing of technology to further improve overall
productivity and operational efficiency without accompanying increased in costs.[2]
In an article issued by McKinsey & Company, “Successfully reducing insurance operating
costs”, it was observed that “costs at the bottom-quartile players can be more than double of
that of top performers”.[3]
Source:
[1] https://essays.homeworkacetutors.com/write-my-essay/sgx.com/wps/portal/sgxweb/home/company_disclosure/great_eastern_holding
[2] Great Eastern Holdings Limited, Annual Report 2017
[3] McKinsey & Company, “Successfully reducing insurance operating costs – Insights from
McKinsey’s Insurance 360º benchmarking”
ACC203e Tutor-Marked Assignment
SINGAPORE UNIVERSITY OF SOCIAL SCIENCES (SUSS) Page 4 of 5
Required:
(a) Define costs and in the context of an insurance company like Great Eastern Holdings
Limited, give four examples of costs.
(12 marks)
(b) Explain why in the study of management accounting, so much attention is focused on
costs and efficiency.
(12 marks)
(c) Define cost objects. Give four examples of cost objects from the case above. Explain
why managers might be interested in knowing the costs?
(21 marks)
Question 3
The following cost data for the current year relate to Wonder Manufacturing Ltd.
$
Administrative costs 112,500
Advertising expense 74,250
Cost of idle time: production employees 30,000
Depreciation on factory building 86,250
Direct labour 435,000
Direct material purchased 1,575,000
Indirect labour wages 105,000
Indirect labour: CPF & other benefits 22,500
Direct Labour: CPF & other benefits 71,250
CPF & other benefits for production supervisor 6,750
Manufacturing overhead 400,500
Product promotion costs 7,500
Production supervisor’s salary 33,750
Rental of office space for sales personnel 11,250
Sales commissions 3,750
Service department costs 75,000
Total overtime premiums paid 41,250
Direct labour: wages 363,750
Raw materials inventory, 31 July 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online 101,700
Raw materials inventory, 30 June 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online 142,800
Work in process, 31 July 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online 181,950
Work in process, 30 June 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online 164,100
Finished goods, 31 July 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online 79,350
Finished goods, 30 June 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online 55,170
ACC203e Tutor-Marked Assignment
SINGAPORE UNIVERSITY OF SOCIAL SCIENCES (SUSS) Page 5 of 5
Required:
(a) Categorise the above and calculate each of the following costs for the year:
(i) Direct material used.
(ii) Total prime costs.
(iii) Total manufacturing overhead costs.
(iv) Total conversion costs.
(v) Cost of goods manufactured.
(vi) Total period costs.
(vii) Cost of goods sold.
(b) (i) Define controllable costs.
(ii) If the Sales Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage r of Wonder Manufacturing Ltd has the authority to control
all costs related to the sales and marketing function, compute his controllable
costs.
(30 marks)
—- END OF ASSIGNMENT —-

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