University : European International University UniLearnO is not sponsored or endorsed by this college or university.
Subject Code : MGT510
Assignment Task :

The Purpose and Context
This assignment will help you develop your understanding of the managerial accounting processes and you will earn how different accounting methods create different pictures for a company given the same data.

Case Scenario
Swipe 50 limited manufactures a specialized screen protector for laptops computers. The plus swipe is a screens protector that prevent scratches on laptop screens. The company has been in operation for 3 years and now that company has refined its production process, the directors have decided to focus on the income and cost arising from the activities. Therefore, the CFO, Tamara J. Blooms, wants to focus on product costing. She wants to look into how both absorption and variable costing affect the profits of the company. The following information is available for the month February and March:
 

Direct

 

Additional Information
1. Swipes 50 Ltd. production capacity 20,000 units per month.
2. Fixed production overheads are €28,600 per month.
3. Swipe 50 sells Plus Swipes at €22 each.
4. On 31st January,the company’s warehouse has no Plus Swipes in inventory.
5. Fixed and variable elements(variable portion is incurredbased on units sold) are included in the total administration expenses.

Assignment Instructions
Please create a report for 50 swipes limited and please include the following in your report.
1. Preparea profit statement for Swipe 50 Limited for the month of February and March using:
a. Absorption costing
b. Variable costing
2. Reconcilethe profit calculate dusing absorption costingto that using variable costing.
3. Explain how each method differs fromthe other method and also explain the importanceof the eachmethods.
4. Explain three waysthat Swipes 50 Ltd. can improve its accounting systems. 
5. State why managing accounting jobs are important in a manufacturing company

 

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  • Uploaded By : Grace
  • Posted on : February 23rd, 2018

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