08 Jul WEIMING PTY LTD PRODUCES TURBINES USED IN THE PRODUCTION OF HYDRO-POWERED ELECTRICITY GENERATING EQUIPMENT.
Weiming Pty Ltd Case and Data Schedules
Weiming Pty Ltd Case Background
Weiming Pty Ltd produces turbines used in the production of hydro-powered electricity generating equipment.
The turbines are sold to various engineering companies that produce hydro-powered generators in Australia and Europe.
Projected sales in units for the coming four months are provided in the assignment data sheet.
The following data pertain to production policies and manufacturing specifications followed by Weiming Pty Ltd._x000D_ The following details are provided in the assignment data sheet:
· Finished goods inventory on January 1. · The full absorption cost of the opening finished goods inventory. · The variable manufacturing cost of the opening finished goods inventory. · The desired finished goods ending inventory for each month.
· The data on materials used. · The amount of materials to be on hand at the beginning of the month · This stipulated amount of materials to be on hand at the beginning of the month is exactly the amount of material on hand on January 1. · (Assume that the material costs per unit are the same throughout the current quarter’s production.)
· The direct labour used per unit of output. · The average direct labour cost per hour.
Details of the Overheads for each month are provided in the data list. The Overheads are estimated using a flexible budget formula. (Activity is measured in direct labour hours). You will have to determine the Maintenance cost and relevant statistical data necessary for you to do so is provided in the data List
Monthly selling and administrative overhead expenses are also estimated using a flexible budgeting formula. (Activity is measured in units sold.) Finance charges and bad debts are included in the figures provided and do not need to be identified separately in the selling and administrative overhead expenses. Details are provided in the data list.
Other information provided the assignment data list are: · The unit selling price of the turbines. · The cost of land to be purchased in February. The company plans to purchase the land for future expansion. · The value and timing of dividends paid to shareholders. · Sales are on credit and the cash receipts pattern for each month is provided, as is the level of Accounts Receivable as at January 1. · Amounts not received in the month following the sale are written off as Bad Debts immediately. · The payment for labour and purchases of materials and other costs are for cash and paid for in the month of acquisition. · There is no Accounts Payable amount for this assignment. · The cash balance on January 1.
If the firm develops a cash shortage by the end of the month, sufficient cash is borrowed to cover the shortage (including any interest payments due). Any cash borrowed is repaid one month later, as is the interest due. The annual interest rate is provided with the assignment data.
During the process of preparing the organisation’s budget, the sales manager is discussing the possible outcome of the forthcoming election with the production manager. She noted that if one of the major political parties wins the election and forms government, there is a strong possibility that alternative energy sources such as hydro-powered electricity may no longer be as actively supported by the new government as is the case under the current government.
The sales manager’s primary concern is that the current market for alternative power generation equipment is already volatile and subject to significant uncertainty. The production manager is also concerned about his plans to build the new highly automated manufacturing facility on the land to be purchased in February. This new manufacturing facility will enable him to manufacture, in-house, the major two parts he is now purchasing for assembly and to significantly automate the assembly process that is currently somewhat labour intensive.
His projections for the new facility indicate a reduction in direct material and direct labour costs of 30% but that his fixed manufacturing overheads are likely to increase by 60% due to the increased investment in production capacity.
Sales Actual Sales Volume 3-months to March
January February March April
Units 61,000 48,800 54,900 73,200 146,600
Unit selling price $5,750
The desired finished goods ending inventory for each month is 60% of the next month’s sales.
The full absorption cost of the opening finished goods inventory is $4,270 per unit
The variable manufacturing cost of the opening finished goods inventory is $1,740 per unit
Finished goods inventory on January 1 is 39,000 units.
Materials be on hand at the beginning of the month to produce 20% of that month’s estimated sales.
Direct Materials used per unit Actual Materials Used – 3 Months to March
Bearing Caseing Bearing Caseing
Quantity 4 5 678,800 659,100
Actual Cost of Materials Used – 3 Months to March
Cost per unit $73 $98 $39,641,920 $65,904,690
Actual Labour Used – 3 Months to March
Budgeted Direct Labour time per unit 7 (hrs.) 1,315,190
Actual Cost of Labour Used – 3 Months to March
Direct labour cost per hour $40 $44,716,500
Budgeted Manufacturing Overheads Recent Statistical Data for Mainentance Costs
Fixed Cost Component per month Variable Cost Component per DL Hour Labour Hrs Total Maintenance Cost
Indirect Labour $ – 0 $51.24 1,177,300 $72,224,000
Power $ – 0 $4.88 1,342,000 $78,446,000
Maintenance ??? ??? 1,232,200 $74,298,000
1,122,400 $70,150,000
Supervision $34,160,000 $0.00
Depreciation $3,050,000 $0.00
Rates and Utilities $2,520,500 $0.00
Other $12,200,000 $36.60
January February March
Variable Selling Expenses $52,612,500 $42,090,000 $47,351,250
Fixed selling & admin expenses $21,960,000 $17,568,000 $19,764,000
Total selling & administrative expenses $74,572,500 $59,658,000 $67,115,250
Cash on hand at opening $3,050,000
Annual Interest Rate on Borrowings 12% pa
Cash from Sales 0%
Received in Month of Sale 60%
Received in Month After Sale 38%
Balance of Accounts Receivable at the start of the period 0 $146,614,000
Dividends Paid in February $1,079,700
Land purchased in February $31,720,000
ACT202 – Assignment Details –
&P of &N
Callista Student List
Person ID Surname Title Given Names Mark Grade Teach Period Unit Code Unit Location
287459 . MISS AMANDEEP KAUR 1 2018 ACT202 MELB
294207 . MS ASHIMA KUMARI 1 2018 ACT202 WFD
275143 . MS EKTA RANI 1 2018 ACT202 MELB
295834 . MISS GURPREET KAUR 1 2018 ACT202 MELB
288773 . MISS GURSIMRAN KAUR 1 2018 ACT202 MELB
287404 . MR HARMANPREET SINGH 1 2018 ACT202 MELB
298346 . MR HARSHPREET SINGH 1 2018 ACT202 MELB
283917 . MR HUZAIFA 1 2018 ACT202 WFD
307731 . MR LOVEPREET SINGH 1 2018 ACT202 WFD
291746 . MR MANBRINDER SINGH 1 2018 ACT202 MELB
288270 . MR MOHIT 1 2018 ACT202 MELB
310565 . MRS PAWANDEEP KAUR 1 2018 ACT202 WFD
307620 . MR RAVI W 1 2018 ACT202 WFD
299077 ADHIKARI MR BIGYAN 1 2018 ACT202 MELB
294720 AHMED MR IMTIAZ 1 2018 ACT202 WFD
288492 ARORA MR ASHISH 1 2018 ACT202 MELB
271012 BASNET MS PRATIKSHYA 1 2018 ACT202 WFD
278794 BELL MR LACHLAN DANIEL JOSEPH 1 2018 ACT202 EXT
287954 BENSEN MS CANDICE LEE 1 2018 ACT202 WFD
281846 BHATTARAI MR PRASHANT 1 2018 ACT202 SYDN
297159 BHATTARAI MR TEK NARAYAN 1 2018 ACT202 MELB
284868 BUZON MR RAPHAEL KARLO 1 2018 ACT202 WFD
268238 CHALISE MR BIBEK 1 2018 ACT202 WFD
300276 CHITRAKAR MISS AKRITI 1 2018 ACT202 WFD
246574 COXHILL MRS LAUREN MARIE 1 2018 ACT202 EXT
267044 DALISTAN MS PRYNZES DAELYN 1 2018 ACT202 WFD
291844 DARKER MR RYAN 1 2018 ACT202 WFD
289299 DAS MR TUSHAR KUMAR 1 2018 ACT202 WFD
291146 DESMOND MISS SAMANTHA JANE 1 2018 ACT202 EXT
296999 DHAKAL MR PUKAR 1 2018 ACT202 MELB
295480 DHIRANI MR ALI ARIF 1 2018 ACT202 WFD
113934 DILLON MRS JESSICA LEE 1 2018 ACT202 EXT
286970 DINH MS LAN HUONG 1 2018 ACT202 MELB
263876 DONA MS RUSHANI IMALSHA GUNARATHNA 1 2018 ACT202 MELB
289498 DUMARAOS MR JONATHAN 1 2018 ACT202 WFD
249724 EROCIDO MR JOHN PAUL W 1 2018 ACT202 WFD
295865 FERNANDO MISS MIKA 1 2018 ACT202 WFD
282942 GASKELL MR JASON KARL W 1 2018 ACT202 EXT
286156 GAUTAM MISS LEENA 1 2018 ACT202 MELB
272986 GHIMIRE MR NIKESH 1 2018 ACT202 WFD
294188 GIRI MISS GARIMA 1 2018 ACT202 SYDN
283279 GIRI MISS KAJOL 1 2018 ACT202 SYDN
179647 GLACKIN MR KEVIN W 1 2018 ACT202 EXT
266860 GREGORY MS KATRINA JOY W 1 2018 ACT202 EXT
269369 GURUNG MS PRATIMA 1 2018 ACT202 WFD
278433 HALKITIS MR MIHALIS 1 2018 ACT202 WFD
296022 HAMAL MR RAHUL W 1 2018 ACT202 SYDN
252967 HAQUE MR MD ASHRAFUL 1 2018 ACT202 WFD
301153 HARPER MR BLAKE 1 2018 ACT202 WFD
148173 HEIGHT MR NEIL ANDREW 1 2018 ACT202 WFD
307877 HOANG MR QUOC TUAN W 1 2018 ACT202 WFD
300011 HURLEY MISS REBECCA 1 2018 ACT202 EXT
288126 HYLAND MR DOUGLAS CHRISTOPHER 1 2018 ACT202 EXT
301450 JONES MS GEORGIA CLARE W 1 2018 ACT202 WFD
301776 K C MR PRAFULLA 1 2018 ACT202 WFD
280145 K C MR PRAGYAN 1 2018 ACT202 WFD
293651 KAFLE MR SACHIT 1 2018 ACT202 SYDN
287391 KALPONA MS UMMAY HANI 1 2018 ACT202 WFD
270603 KANDEL MR BIPLAV 1 2018 ACT202 WFD
287991 KATNA MR NIKHIL 1 2018 ACT202 MELB
287699 KAUR MISS SARVJEET 1 2018 ACT202 MELB
289737 KEARIE MISS EUNICE NJERI 1 2018 ACT202 WFD
282304 KHADKA MR SANGAM 1 2018 ACT202 SYDN
300605 KHARAL MR SAKAR 1 2018 ACT202 WFD
300709 KHATRI MR AMARLAL 1 2018 ACT202 WFD
266241 KOSMA MISS ANNA 1 2018 ACT202 EXT
301222 LAI MISS NETANYA 1 2018 ACT202 WFD
312286 LE MS THI BICH TRAN 1 2018 ACT202 MELB
275937 LI MR MENGLONG 1 2018 ACT202 WFD
302049 LINGAD MS LYKA JHAINE OCAMPO 1 2018 ACT202 WFD
267918 MACDONALD MR MICHAEL KIYOSHI 1 2018 ACT202 WFD
287631 MAHARJAN MR AAYUSH 1 2018 ACT202 SYDN
301658 MAHARJAN MISS SWETA 1 2018 ACT202 WFD
301097 MALADY MISS JESSICA ISOBEL 1 2018 ACT202 WFD
286836 MAQSOOD MR TAYYAB 1 2018 ACT202 MELB
301113 MOUSELLIS MISS MARIA 1 2018 ACT202 WFD
302048 MU MS KRISTINA 1 2018 ACT202 WFD
272474 MUNYOKI MR LEE NGIE 1 2018 ACT202 WFD
267674 NAIR MR LACHLAN 1 2018 ACT202 WFD
265573 NAMBIRI MR NAMBIRI W 1 2018 ACT202 EXT
294537 NEUPANE MR AASHISH 1 2018 ACT202 WFD
245344 ONI MR TOUSHIK AZAD 1 2018 ACT202 WFD
299752 OSHIN MR ABDUL RAKIB 1 2018 ACT202 WFD
292635 PAIJA PUN MR SUJAN 1 2018 ACT202 WFD
204386 PAN MRS ZHIFEI 1 2018 ACT202 EXT
295719 PANGENI MR BHUWAN 1 2018 ACT202 SYDN
279930 PASTOR MR JOB MARC ANGELO 1 2018 ACT202 WFD
282571 PATEL MR HARDIKBHAI SURESHBHAI 1 2018 ACT202 WFD
295770 PAUDEL MISS ASHWEETA 1 2018 ACT202 SYDN
301098 PERRY MR JARROD CONNOR 1 2018 ACT202 WFD
135983 PICKERING MS DIEDRE MAY 1 2018 ACT202 EXT
296500 POVEDA ALFONSO MR BENJAMIN 1 2018 ACT202 WFD
301093 QUIJANO MR RONALD VINCENT 1 2018 ACT202 WFD
287244 RANASINGHAGE MR RUWAN CHAMARA 1 2018 ACT202 WFD
278245 ROSAL MS DAYANARA FLORES 1 2018 ACT202 WFD
297757 SAFFOON MRS SADIA 1 2018 ACT202 WFD
297580 SAPKOTA MR POSHAK 1 2018 ACT202 WFD
271390 SAPKOTA MR ROSHAN 1 2018 ACT202 WFD
283647 SAZEED MR MUHAMMAD TOUSIF 1 2018 ACT202 WFD
301483 SHARMA MISS ADITI 1 2018 ACT202 MELB
301775 SITOULA MR SOURAV 1 2018 ACT202 SYDN
287354 SKELLEY MISS ALLISON JOHANNA 1 2018 ACT202 EXT
290204 SOK MR POV 1 2018 ACT202 WFD
205354 SONNTAG MRS KELLY W 1 2018 ACT202 EXT
297323 SUDIRIKKU HENNADIGE MISS UMAYANGANI SHASHIKALA HENNADIGE 1 2018 ACT202 WFD
294788 SUN MR XIANG 1 2018 ACT202 WFD
300610 SUNG MR YEON SEO 1 2018 ACT202 WFD
300582 TAMANG MISS SHANTI 1 2018 ACT202 SYDN
991108 TUCKER MRS SHARON LOUISE W 1 2018 ACT202 EXT
272971 UPRETI MR DIPIT 1 2018 ACT202 SYDN
301095 VARGAS MR CHARLES KENDRIC 1 2018 ACT202 WFD
196758 WATSON MR THOREN ALEX 1 2018 ACT202 WFD
231824 WU MR ZIPING 1 2018 ACT202 WFD
255477 YU MS SUYEONG 1 2018 ACT202 SYDN
294986 ZHANG MRS QIANWEN 1 2018 ACT202 EXT
Student_List
Student List Student Number Mod Index 3 4 6 Student Number Index
287459 MISS AMANDEEP KAUR . MELB 35 3 4 2 65% 55
294207 MS ASHIMA KUMARI . WFD 24 1 1 1 76% 42
275143 MS EKTA RANI . MELB 22 2 3 1 78% 36
295834 MISS GURPREET KAUR . MELB 31 2 4 4 131% 51
288773 MISS GURSIMRAN KAUR . MELB 35 3 4 3 65% 56
287404 MR HARMANPREET SINGH . MELB 25 2 2 6 125% 47
298346 MR HARSHPREET SINGH . MELB 32 3 1 6 132% 53
283917 MR HUZAIFA . WFD 30 1 3 1 70% 42
307731 MR LOVEPREET SINGH . WFD 21 1 2 6 79% 41
291746 MR MANBRINDER SINGH . MELB 29 3 2 3 129% 50
288270 MR MOHIT . MELB 27 1 4 2 127% 37
310565 MRS PAWANDEEP KAUR . WFD 20 3 1 5 80% 40
307620 MR RAVI . WFD 18 1 3 4 118% 27
299077 MR BIGYAN ADHIKARI MELB 34 2 3 5 66% 52
294720 MR IMTIAZ AHMED WFD 24 1 1 4 124% 39
288492 MR ASHISH ARORA MELB 33 1 2 1 133% 48
271012 MS PRATIKSHYA BASNET WFD 13 2 2 4 113% 33
278794 MR LACHLAN DANIEL JOSEPH BELL EXT 37 2 2 1 137% 66
287954 MS CANDICE LEE BENSEN WFD 35 3 4 3 135% 56
281846 MR PRASHANT BHATTARAI SYDN 29 3 2 3 129% 50
297159 MR TEK NARAYAN BHATTARAI MELB 33 1 2 4 67% 57
284868 MR RAPHAEL KARLO BUZON WFD 36 1 1 5 136% 58
268238 MR BIBEK CHALISE WFD 29 3 2 4 129% 45
300276 MISS AKRITI CHITRAKAR WFD 18 1 3 4 118% 39
246574 MRS LAUREN MARIE COXHILL EXT 28 2 1 5 128% 52
267044 MS PRYNZES DAELYN DALISTAN WFD 23 3 4 2 123% 49
291844 MR RYAN DARKER WFD 28 2 1 1 128% 42
289299 MR TUSHAR KUMAR DAS WFD 39 1 4 5 61% 58
291146 MISS SAMANTHA JANE DESMOND EXT 23 3 4 2 123% 49
296999 MR PUKAR DHAKAL MELB 44 3 1 6 56% 59
295480 MR ALI ARIF DHIRANI WFD 28 2 1 6 128% 47
113934 MRS JESSICA LEE DILLON EXT 21 1 2 2 121% 43
286970 MS LAN HUONG DINH MELB 32 3 1 2 132% 49
263876 MS RUSHANI IMALSHA GUNARATHNA DONA MELB 32 3 1 1 132% 66
289498 MR JONATHAN DUMARAOS WFD 40 2 1 1 140% 60
249724 MR JOHN PAUL EROCIDO WFD 28 2 1 1 128% 48
295865 MISS MIKA FERNANDO WFD 35 3 4 6 65% 53
282942 MR JASON KARL GASKELL EXT 27 1 4 1 127% 48
286156 MISS LEENA GAUTAM MELB 28 2 1 4 128% 45
272986 MR NIKESH GHIMIRE WFD 34 2 3 4 134% 51
294188 MISS GARIMA GIRI SYDN 32 3 1 1 132% 48
283279 MISS KAJOL GIRI SYDN 31 2 4 5 69% 46
179647 MR KEVIN GLACKIN EXT 34 2 3 3 66% 50
266860 MS KATRINA JOY GREGORY EXT 28 2 1 3 128% 50
269369 MS PRATIMA GURUNG WFD 35 3 4 5 65% 52
278433 MR MIHALIS HALKITIS WFD 27 1 4 5 73% 46
296022 MR RAHUL HAMAL SYDN 21 1 2 6 121% 35
252967 MR MD ASHRAFUL HAQUE WFD 31 2 4 4 69% 51
301153 MR BLAKE HARPER WFD 13 2 2 5 87% 28
148173 MR NEIL ANDREW HEIGHT WFD 24 1 1 4 76% 45
307877 MR QUOC TUAN HOANG WFD 32 3 1 3 68% 50
300011 MISS REBECCA HURLEY EXT 5 3 2 1 95% 24
288126 MR DOUGLAS CHRISTOPHER HYLAND EXT 27 1 4 3 127% 56
301450 MS GEORGIA CLARE JONES WFD 13 2 2 6 113% 35
301776 MR PRAFULLA K C WFD 24 1 1 4 124% 39
280145 MR PRAGYAN K C WFD 20 3 1 5 80% 34
293651 MR SACHIT KAFLE SYDN 26 3 3 6 74% 41
287391 MS UMMAY HANI KALPONA WFD 30 1 3 4 70% 51
270603 MR BIPLAV KANDEL WFD 18 1 3 5 82% 34
287991 MR NIKHIL KATNA MELB 36 1 1 4 64% 51
287699 MISS SARVJEET KAUR MELB 41 3 2 6 59% 59
289737 MISS EUNICE NJERI KEARIE WFD 36 1 1 1 64% 60
282304 MR SANGAM KHADKA SYDN 19 2 4 6 119% 35
300605 MR SAKAR KHARAL WFD 14 3 3 6 86% 29
300709 MR AMARLAL KHATRI WFD 19 2 4 1 81% 36
266241 MISS ANNA KOSMA EXT 21 1 2 1 79% 36
301222 MISS NETANYA LAI WFD 10 2 3 3 110% 26
312286 MS THI BICH TRAN LE MELB 22 2 3 6 122% 41
275937 MR MENGLONG LI WFD 33 1 2 6 67% 47
302049 MS LYKA JHAINE OCAMPO LINGAD WFD 18 1 3 5 82% 46
267918 MR MICHAEL KIYOSHI MACDONALD WFD 33 1 2 2 133% 61
287631 MR AAYUSH MAHARJAN SYDN 27 1 4 4 73% 45
301658 MISS SWETA MAHARJAN WFD 23 3 4 1 123% 42
301097 MISS JESSICA ISOBEL MALADY WFD 20 3 1 5 80% 46
286836 MR TAYYAB MAQSOOD MELB 33 1 2 3 133% 50
301113 MISS MARIA MOUSELLIS WFD 9 1 2 6 91% 29
302048 MS KRISTINA MU WFD 17 3 2 2 117% 31
272474 MR LEE NGIE MUNYOKI WFD 26 3 3 4 126% 45
267674 MR LACHLAN NAIR WFD 32 3 1 6 132% 47
265573 MR NAMBIRI NAMBIRI EXT 28 2 1 5 72% 46
294537 MR AASHISH NEUPANE WFD 30 1 3 1 70% 48
245344 MR TOUSHIK AZAD ONI WFD 22 2 3 6 122% 41
299752 MR ABDUL RAKIB OSHIN WFD 34 2 3 1 134% 54
292635 MR SUJAN PAIJA PUN WFD 27 1 4 4 73% 45
204386 MRS ZHIFEI PAN EXT 23 3 4 2 123% 37
295719 MR BHUWAN PANGENI SYDN 33 1 2 3 67% 50
279930 MR JOB MARC ANGELO PASTOR WFD 30 1 3 2 130% 55
282571 MR HARDIKBHAI SURESHBHAI PATEL WFD 25 2 2 2 75% 55
295770 MISS ASHWEETA PAUDEL SYDN 30 1 3 3 130% 50
301098 MR JARROD CONNOR PERRY WFD 21 1 2 2 121% 43
135983 MS DIEDRE MAY PICKERING EXT 29 3 2 5 71% 52
296500 MR BENJAMIN POVEDA ALFONSO WFD 22 2 3 1 122% 48
301093 MR RONALD VINCENT QUIJANO WFD 16 2 1 6 84% 41
287244 MR RUWAN CHAMARA RANASINGHAGE WFD 27 1 4 3 127% 56
278245 MS DAYANARA FLORES ROSAL WFD 28 2 1 5 72% 52
297757 MRS SADIA SAFFOON WFD 37 2 2 1 63% 54
297580 MR POSHAK SAPKOTA WFD 31 2 4 1 131% 48
271390 MR ROSHAN SAPKOTA WFD 22 2 3 4 122% 39
283647 MR MUHAMMAD TOUSIF SAZEED WFD 30 1 3 2 70% 55
301483 MISS ADITI SHARMA MELB 19 2 4 1 81% 36
301775 MR SOURAV SITOULA SYDN 23 3 4 5 77% 40
287354 MISS ALLISON JOHANNA SKELLEY EXT 29 3 2 4 129% 57
290204 MR POV SOK WFD 17 3 2 4 117% 27
205354 MRS KELLY SONNTAG EXT 19 2 4 1 119% 36
297323 MISS UMAYANGANI SHASHIKALA HENNADIGE SUDIRIKKU HENNADIGE WFD 26 3 3 5 74% 82
294788 MR XIANG SUN WFD 38 3 3 3 138% 50
300610 MR YEON SEO SUNG WFD 10 2 3 3 110% 26
300582 MISS SHANTI TAMANG SYDN 18 1 3 1 118% 36
991108 MRS SHARON LOUISE TUCKER EXT 28 2 1 5 128% 52
272971 MR DIPIT UPRETI SYDN 28 2 1 2 72% 43
301095 MR CHARLES KENDRIC VARGAS WFD 18 1 3 2 82% 43
196758 MR THOREN ALEX WATSON WFD 36 1 1 4 136% 57
231824 MR ZIPING WU WFD 20 3 1 3 120% 32
255477 MS SUYEONG YU SYDN 30 1 3 2 70% 43
294986 MRS QIANWEN ZHANG EXT 38 3 3 2 138% 55
0 0 0 1 1 3 100% 2
0 0 0 1 1 3 100% 2
0 0 0 1 1 3 100% 2
0 0 0 1 1 3 100% 2
0 0 0 1 1 3 100% 2
0 0 0 1 1 3 100% 2
0 0 0 1 1 3 100% 2
0 0 0 1 1 3 100% 2
0 0 0 1 1 3 100% 2
0 0 0 1 1 3 100% 2
0 0 0 1 1 3 100% 2
0 0 0 1 1 3 100% 2
0 0 0 1 1 3 100% 2
0 0 0 1 1 3 100% 2
0 0 0 1 1 3 100% 2
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0 0 0 1 1 3 100% 2
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0 0 0 1 1 3 100% 2
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0 0 0 1 1 3 100% 2
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0 0 0 1 1 3 100% 2
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0 0 0 1 1 3 100% 2
0 0 0 1 1 3 100% 2
0 0 0 1 1 3 100% 2
999990 TRIAL STUDENT 1 YYY 45 1 2 1 145% 60
999991 TRIAL STUDENT 2 XXX 46 2 3 2 54% 61
999992 TRIAL STUDENT 3 YYY 47 3 4 3 147% 62
999993 TRIAL STUDENT 4 XXX 48 1 1 4 52% 63
999994 TRIAL STUDENT 5 YYY 49 2 2 5 149% 64
999995 TRIAL STUDENT 6 XXX 50 3 3 6 50% 65
999996 TRIAL STUDENT 7 YYY 51 1 4 1 151% 66
999997 TRIAL STUDENT 8 XXX 52 2 1 2 48% 67
999998 TRIAL STUDENT 9 YYY 53 3 2 3 153% 68
999999 TRIAL STUDENT 10 XXX 54 1 3 5 46% 70
Original Data
Sales
January February March april
Units 50,000 40,000 45,000 60,000
Unit selling price $4,300
The desired finished goods ending inventory for each month is 40% of the next month’s sales. varies around 40% based on student number
The full absorption cost of the opening finished goods inventory is $ 3,500 per unit
The variable manufacturing cost of the opening finished goods inventory is $ 1,430
Finished goods inventory on January 1 is 32,000
Materials be on hand at the beginning of the month to produce 40% of that month’s estimated sales. varies around 40% based on student number
Direct Materials used per unit Actual Materials Used – 3 Months to March
Part 714 Part 502 Part 714 Part 502
Quantity 3 4 342,900 67,500 varies based on student number
Cost per unit $60 $80 Actual Cost of Materials Used – 3 Months to March
$24,688,800 $13,784,580 varies based on student number
Actual LabourUsed – 3 Months to March
Direct labor time per unit 6 (hrs.) 592,340 varies based on student number
Direct labor cost per hour $35 Actual Cost of Labour Used – 3 Months to March
$27,247,600 varies based on student number
Manufacturing Overheads
Fixed Cost Component Variable Cost Component Recent Statistical Data for Mainentance Costs
Indirect Labour $ 42.00 Labour Hrs Total Maintenance Cost
Power $ 4.00 965,000 $59,200,000
Maintenance $ 22,742,000 $ 37.78 1,100,000 $64,300,000
Supervision $ 28,000,000 1,010,000 $60,900,000
Depreciation $ 2,500,000 920,000 $57,500,000
Rates and Utilities $ 2,066,000
Other $ 10,000,000 $ 30.00
January February March
Variable Selling Expenses $ 32,250,000 $ 25,800,000 $ 29,025,000
Fixed selling & admin expenses $ 18,000,000 $ 14,400,000 $ 16,200,000
Total selling & administrative expenses $ 50,250,000 $ 40,200,000 $ 45,225,000
Cash on hand at opening $ 2,500,000
Annual Interest Rate on Borrowings 6% pa
Cash from Sales
Received in Month of Sale 20%
Received in Month After Sale 78%
Balance of Accounts Receivable at the start of the period $184,470,000
Dividends Paid in January $885,000
Land purchased in February $26,000,000
Data_Sheet
Hide this section Password big —————->
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CDU: cell and text are white to confuse the unwary click on cell to see the password in the formula bar Worksheets Names Select Base Number Index of 1 FALSE
Student Data Student_Number_Mod_Index 2 3 6
1 Case Details01 Heidegger Pty Ltd Student_Number_Even TRUE
2 Case Details02 Schopenhauer Pty Ltd Student_Number_Schd Production
3 Case Details03 Shariati Pty Ltd Student_Number_Bus_name Weiming Pty Ltd
4 Case Details04 Wittgenstein Pty Ltd Student_Number_Case Case Details06
5 Case Details05 Krishnamurti Pty Ltd Student_Number_Index 122%
6 Case Details06 Weiming Pty Ltd Student_Cost_Sheet 2
Student_Quarter Qtr3
1 Sales Sch01 Business_names
2 Production Sch02 1 Wittgenstein Pty Ltd
3 Direct Materials Sch03 2 Krishnamurti Pty Ltd
4 Direct Labour Sch04 3 Weiming Pty Ltd
5 Overhead Sch05 4 Heidegger Pty Ltd
6 Selling & Admin Sch06 5 Schopenhauer Pty Ltd
7 Ending Finished Goods Sch07 6 Shariati Pty Ltd
8 Cost of Goods Sold Sch08 Part_name Part01 Part02
9 Income Statement Sch09 1 Shaft Bearing
10 Cash Budget Sch10 2 Capacitor Switch
11 Sales Costs Sch11 3 Rotor Blades
4 Cups Vanes
Qtr1 June July August September October 5 Fuse Isolator
Qtr2 September October November December January 6 Bearing Caseing
Qtr3 December January February March April Energy_type Type01 Component
Qtr4 March April May June July 1 wind-powered propellers
2 solar-powered AC/DC Switches
Actual Sales Change 11% 3 hydro-powered turbines
Actual Usage Change Part01 12% 4 wind-powered anemometers
Actual Usage Change Part02 13% 5 solar-powered batteries
Actual Cost Change Part01 20% 6 hydro-powered turbines
Actual Cost Change Part02 33%
Actual Labour Usage Change 24%
Actual Labour Cost Change 15%
Selling Price Constant 3000
CVP_Var_Cost_Change 30%
CVP_Fixed_Cost_Change 60%
Working Parameters
A4 B4 C4 D4 E4 F4 G4 H4 I4
A5 B5 C5 D5 E5 F5 G5 H5 I5
A6 B6 C6 D6 E6 F6 G6 H6 I6
A7 B7 C7 D7 E7 F7 G7 H7 I7
A8 B8 C8 D8 E8 F8 G8 H8 I8
A9 B9 C9 D9 E9 F9 G9 H9 I9
A10 B10 C10 D10 E10 F10 G10 H10 I10
A11 B11 C11 D11 E11 F11 G11 H11 I11
A12 B12 C12 D12 E12 F12 G12 H12 I12
A13 B13 C13 D13 E13 F13 G13 H13 I13
A14 B14 C14 D14 E14 F14 G14 H14 I14
A15 B15 C15 D15 E15 F15 G15 H15 I15
A16 B16 C16 D16 E16 F16 G16 H16 I16
A17 B17 C17 D17 E17 F17 G17 H17 I17
A18 B18 C18 D18 E18 F18 G18 H18 I18
A19 B19 C19 D19 E19 F19 G19 H19 I19
A20 B20 C20 D20 E20 F20 G20 H20 I20
A21 B21 C21 D21 E21 F21 G21 H21 I21
A22 B22 C22 D22 E22 F22 G22 H22 I22
A23 B23 C23 D23 E23 F23 G23 H23 I23
A24 B24 C24 D24 E24 F24 G24 H24 I24
A25 B25 C25 D25 E25 F25 G25 H25 I25
A26 B26 C26 D26 E26 F26 G26 H26 I26
A27 B27 C27 D27 E27 F27 G27 H27 I27
A28 B28 C28 D28 E28 F28 G28 H28 I28
A29 B29 C29 D29 E29 F29 G29 H29 I29
A30 B30 C30 D30 E30 F30 G30 H30 I30
A31 B31 C31 D31 E31 F31 G31 H31 I31
A32 B32 C32 D32 E32 F32 G32 H32 I32
A33 B33 C33 D33 E33 F33 G33 H33 I33
A34 B34 C34 D34 E34 F34 G34 H34 I34
A35 B35 C35 D35 E35 F35 G35 H35 I35
A36 B36 C36 D36 E36 F36 G36 H36 I36
A37 B37 C37 D37 E37 F37 G37 H37 I37
A38 B38 C38 D38 E38 F38 G38 H38 I38
A39 B39 C39 D39 E39 F39 G39 H39 I39
A40 B40 C40 D40 E40 F40 G40 H40 I40
A41 B41 C41 D41 E41 F41 G41 H41 I41
A42 B42 C42 D42 E42 F42 G42 H42 I42
A43 B43 C43 D43 E43 F43 G43 H43 I43
A44 B44 C44 D44 E44 F44 G44 H44 I44
A45 B45 C45 D45 E45 F45 G45 H45 I45
A46 B46 C46 D46 E46 F46 G46 H46 I46
A47 B47 C47 D47 E47 F47 G47 H47 I47
A48 B48 C48 D48 E48 F48 G48 H48 I48
A49 B49 C49 D49 E49 F49 G49 H49 I49
A50 B50 C50 D50 E50 F50 G50 H50 I50
A51 B51 C51 D51 E51 F51 G51 H51 I51
A52 B52 C52 D52 E52 F52 G52 H52 I52
A53 B53 C53 D53 E53 F53 G53 H53 I53
A54 B54 C54 D54 E54 F54 G54 H54 I54
A55 B55 C55 D55 E55 F55 G55 H55 I55
A56 B56 C56 D56 E56 F56 G56 H56 I56
A57 B57 C57 D57 E57 F57 G57 H57 I57
A58 B58 C58 D58 E58 F58 G58 H58 I58
A59 B59 C59 D59 E59 F59 G59 H59 I59
A60 B60 C60 D60 E60 F60 G60 H60 I60
A61 B61 C61 D61 E61 F61 G61 H61 I61
A62 B62 C62 D62 E62 F62 G62 H62 I62
A63 B63 C63 D63 E63 F63 G63 H63 I63
A64 B64 C64 D64 E64 F64 G64 H64 I64
A65 B65 C65 D65 E65 F65 G65 H65 I65
A66 B66 C66 D66 E66 F66 G66 H66 I66
Base Data
ACT202 ASSIGNMENT DATA – SEMESTER 1 2018
Student Number 245344
Student Name MR TOUSHIK AZAD ONI (WFD)
Sales Actual Sales Volume 3-months to March
January February March April
Units 61,000 48,800 54,900 73,200 146,600
Unit selling price $5,750
The desired finished goods ending inventory for each month is 60% of the next month’s sales.
The full absorption cost of the opening finished goods inventory is $4,270 per unit
The variable manufacturing cost of the opening finished goods inventory is $1,740 per unit
Finished goods inventory on January 1 is 39,000 units.
Materials be on hand at the beginning of the month to produce 20% of that month’s estimated sales.
Direct Materials used per unit Actual Materials Used – 3 Months to March
Bearing Caseing Bearing Caseing
Quantity 4 5 678,800 659,100
Actual Cost of Materials Used – 3 Months to March
Cost per unit $73 $98 $39,641,920 $65,904,690
Actual Labour Used – 3 Months to March
Budgeted Direct Labour time per unit 7 (hrs.) 1,315,190
Actual Cost of Labour Used – 3 Months to March
Direct labour cost per hour $40 $44,716,500
Budgeted Manufacturing Overheads Recent Statistical Data for Mainentance Costs
Fixed Cost Component per month Variable Cost Component per DL Hour Labour Hrs Total Maintenance Cost
Indirect Labour $51.24 1,177,300 $72,224,000
Power $4.88 1,342,000 $78,446,000
Maintenance ??? ??? [To be calculated by student] 1,232,200 $74,298,000
1,122,400 $70,150,000
Supervision $34,160,000
Depreciation $3,050,000
Rates and Utilities $2,520,500
Other $12,200,000 $36.60
January February March
Variable Selling Expenses $52,612,500 $42,090,000 $47,351,250
Fixed selling & admin expenses $21,960,000 $17,568,000 $19,764,000
Total selling & administrative expenses $74,572,500 $59,658,000 $67,115,250
Cash on hand at opening $3,050,000
Annual Interest Rate on Borrowings 12% pa
Cash from Sales
Received in Month of Sale 60%
Received in Month After Sale 38%
Balance of Accounts Receivable at the start of the period $146,614,000
Dividends Paid in February $1,079,700
Land purchased in February $31,720,000
Case Details01
Weiming Pty Ltd
Weiming Pty Ltd Case Background
Weiming Pty Ltd produces turbines used in the production of hydro-powered electricity generating equipment.
The turbines are sold to various engineering companies that produce hydro-powered generators in Australia and Europe.
Projected sales in units for the coming four months are provided in the assignment data sheet.
The following data pertain to production policies and manufacturing specifications followed by Weiming Pty Ltd._x000D_ The following details are provided in the assignment data sheet:
· Finished goods inventory on January 1. · The full absorption cost of the opening finished goods inventory. · The variable manufacturing cost of the opening finished goods inventory. · The desired finished goods ending inventory for each month.
· The data on materials used. · The amount of materials to be on hand at the beginning of the month · This stipulated amount of materials to be on hand at the beginning of the month is exactly the amount of material on hand on January 1. · (Assume that the material costs per unit are the same throughout the current quarter’s production.)
· The direct labour used per unit of output. · The average direct labour cost per hour.
Details of the Overheads for each month are provided in the data list. The Overheads are estimated using a flexible budget formula. (Activity is measured in direct labour hours). You will have to determine the Maintenance cost and relevant statistical data necessary for you to do so is provided in the data List
Monthly selling and administrative overhead expenses are also estimated using a flexible budgeting formula. (Activity is measured in units sold.) Finance charges and bad debts are included in the figures provided and do not need to be identified separately in the selling and administrative overhead expenses. Details are provided in the data list.
Other information provided the assignment data list are: · The unit selling price of the turbines. · The cost of land to be purchased in February. The company plans to purchase the land for future expansion. · The value and timing of dividends paid to shareholders. · Sales are on credit and the cash receipts pattern for each month is provided, as is the level of Accounts Receivable as at January 1. · Amounts not received in the month following the sale are written off as Bad Debts immediately. · The payment for labour and purchases of materials and other costs are for cash and paid for in the month of acquisition. · There is no Accounts Payable amount for this assignment. · The cash balance on January 1.
If the firm develops a cash shortage by the end of the month, sufficient cash is borrowed to cover the shortage (including any interest payments due). Any cash borrowed is repaid one month later, as is the interest due. The annual interest rate is provided with the assignment data.
During the process of preparing the organisation’s budget, the sales manager is discussing the possible outcome of the forthcoming election with the production manager. She noted that if one of the major political parties wins the election and forms government, there is a strong possibility that alternative energy sources such as hydro-powered electricity may no longer be as actively supported by the new government as is the case under the current government.
The sales manager’s primary concern is that the current market for alternative power generation equipment is already volatile and subject to significant uncertainty. The production manager is also concerned about his plans to build the new highly automated manufacturing facility on the land to be purchased in February. This new manufacturing facility will enable him to manufacture, in-house, the major two parts he is now purchasing for assembly and to significantly automate the assembly process that is currently somewhat labour intensive.
His projections for the new facility indicate a reduction in direct material and direct labour costs of 30% but that his fixed manufacturing overheads are likely to increase by 60% due to the increased investment in production capacity.
Case Details02
Weiming Pty Ltd
Weiming Pty Ltd Case Background
Weiming Pty Ltd produces turbines used in the production of hydro-powered electricity generating equipment.
The turbines are sold to various engineering companies that produce hydro-powered generators in Australia and Europe.
Projected sales in units for the coming four months are provided in the assignment data sheet.
The following data pertain to production policies and manufacturing specifications followed by Weiming Pty Ltd._x000D_ The following details are provided in the assignment data sheet:
· Finished goods inventory on January 1. · The full absorption cost of the opening finished goods inventory. · The variable manufacturing cost of the opening finished goods inventory. · The desired finished goods ending inventory for each month.
· The data on materials used. · The amount of materials to be on hand at the beginning of the month · This stipulated amount of materials to be on hand at the beginning of the month is exactly the amount of material on hand on January 1. · (Assume that the material costs per unit are the same throughout the current quarter’s production.)
· The direct labour used per unit of output. · The average direct labour cost per hour.
Details of the Overheads for each month are provided in the data list. The Overheads are estimated using a flexible budget formula. (Activity is measured in direct labour hours). You will have to determine the Maintenance cost and relevant statistical data necessary for you to do so is provided in the data List
Monthly selling and administrative overhead expenses are also estimated using a flexible budgeting formula. (Activity is measured in units sold.) Finance charges and bad debts are included in the figures provided and do not need to be identified separately in the selling and administrative overhead expenses. Details are provided in the data list.
Other information provided the assignment data list are: · The unit selling price of the turbines. · The cost of land to be purchased in February. The company plans to purchase the land for future expansion. · The value and timing of dividends paid to shareholders. · Sales are on credit and the cash receipts pattern for each month is provided, as is the level of Accounts Receivable as at January 1. · Amounts not received in the month following the sale are written off as Bad Debts immediately. · The payment for labour and purchases of materials and other costs are for cash and paid for in the month of acquisition. · There is no Accounts Payable amount for this assignment. · The cash balance on January 1.
If the firm develops a cash shortage by the end of the month, sufficient cash is borrowed to cover the shortage (including any interest payments due). Any cash borrowed is repaid one month later, as is the interest due. The annual interest rate is provided with the assignment data.
During the process of preparing the organisation’s budget, the sales manager is discussing the possible outcome of the forthcoming election with the production manager. She noted that if one of the major political parties wins the election and forms government, there is a strong possibility that alternative energy sources such as hydro-powered electricity may no longer be as actively supported by the new government as is the case under the current government.
The sales manager’s primary concern is that the current market for alternative power generation equipment is already volatile and subject to significant uncertainty. The production manager is also concerned about his plans to build the new highly automated manufacturing facility on the land to be purchased in February. This new manufacturing facility will enable him to manufacture, in-house, the major two parts he is now purchasing for assembly and to significantly automate the assembly process that is currently somewhat labour intensive.
His projections for the new facility indicate a reduction in direct material and direct labour costs of 30% but that his fixed manufacturing overheads are likely to increase by 60% due to the increased investment in production capacity.
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