Examination for the Bachelor s Degree

Transcription

1 Examination for the Bachelor s Degree name: exam in module: IB@M-Accounting III nationality: 1st examiner: grade: 1st examiner: sign.: matriculation number: 2nd examiner: grade: date: Jan 24th, 2006 sign: time prescribed: 120 min valuation examination aids: calculatior, np. marks from: 120 I herewith apply for publication of my examination result under my matriculation number signature: General examination instructions Pls., enroll into the list distributed Check your examination for completeness. You got tasks 1 to 5 on pages 2 to 5. After completing the exam pls. submit all examination papers including exercise sheets and drafts, if any. Pls., also do in case of prematurely breaking off examination. Pls., follow the instructions given by the supervisor regarding 13 of the final examination regulations for study programs leading to a bachelor s degree (withdrawal, deception, violation of rules). The use of mobile phones is not allowed. Answer in English only.

2 Examination Accounting III FH Osnabrück, page 2 In the examination the total tax rate is 40% and VAT rate is 16%. VAT regularly is to be paid in the next accounting period. Make entries as payables (A/P) or receivables (A/R). Fiscal year starts normally at 1 Jan and ends at 31 December. Tax liabilities are to be shown as liabilities along IAS 12 even if the tax assessment statement is not yet valid. (No provision to be considered, like along GCC) Don t distinguish between cash at bank and cash on hand account. Feel free to show figures to 2 decimal places for values in EUR and one digit right to the decimal point for percentages. If you give me a fantasy name you ll get your result at my website For login the user name has to be FHOSStudent and the password is Remarque. Without fantasy name your result appears there as N.N. Don t send me any s or give me any calls concerning your results. Good Luck! In this examination only 4 tasks count! Task 1 (30 marks) Activity planning Pls. consider that this task isn t related to task 2. Don t use the exhibit of task 2 for your solution! You got an output schedule for a consulting firm. Determine by equation system the activity amount for each cost center. Determine how much activities are performed for internal activity exchange between the cost centers. Draw a diagram showing the internal activity exchanges. The output (to products) is given in the spread sheet below: Consulting 1 Consulting 2 Back office EDP-Service Activity type Cons-h Cons-h O-h EDP-h Output 100 Cons-h 500 Cons-h 0 O-h 130 EDP-h (with: Cons-h = consulting hours, O-h = Office hours, EDP-h = Data processing service hours) Pls., consider internal activity exchange as follows: (1) Consulting1 gets support form the Back office cost center. There is one office-hour planned for every 2 consulting-hours. (2) Cost center Consulting2 gets only one office-hour for 10 consulting-hours. All cost centers are planned to be supported by the EDP service cost center: (3) for 10 consulting-hours cost center Consulting 2 gets one EDP-hour. (4) Cost center Consulting1 is supported by one EDP-hour for every 10 consulting hours. (5) The Back office receives one EDP-hour for every 10 office-hour. (6) EDP cost center is supported by Consulting2. For every 20 EDP-h it is planned that EDP will get one consulting hour. Solution: EDP = 201,11 EDP-h; BO = 101,01 O-h; C1 = 100 Cons-h; C2 = 510,06 Cons-h

3 Examination Accounting III FH Osnabrück, page 3 Task 2 (30 marks) Internal cost allocation Pay attention: This task is not related to task 1. In case you failed task 1 you could pass this task either! Figures and cost center relationships are different! The internal cost allocations are given for the cost centers EDP service, Back office, Consulting 1 and Consulting EDP-h Back office 5 Cons-h 50 O-h 150 O-h Consulting 1 EDP service 100 EDP-h 200 EDP-h Consulting 2 (1) Allocate costs along step down method ignoring the arrow from Consulting 1 to EDP service. (2) Determine cost rates for consulting cost centers Consulting 1 and Consulting 2. Consulting 1 Consulting 2 Back office EDP-Service Primary costs , , , ,00 Activities 500 Cons-h 400 Cons-h 200 O-h 400 EDP-h Solution: 200 EUR/h; 1100 EUR/h Task 3 (30 marks) Cost allocation Determine cost rates of task 2 on basis of an equation system. Now, consider cost center EDP service receiving 5 consulting-hours from cost center Consulting 1. Solution: FC(C1) = ,35 EUR; FC(C2) = ,66 EUR; FC(BO) = FC (EDP) = 0

4 Examination Accounting III FH Osnabrück, page 4 Task 4 (30 marks) Variance analysis A cost center is producing pens. There are two machines that can be used for production alternatively. Machine A produces pens for 20 EUR/p. Machine B produces pens for 10 EUR/p. Fixed costs for machine A are EUR, for machine B are EUR. (1) Draw up a diagram showing the best (most efficient) standard cost function (= target cost function). Now, let s assume your cost function (determined by (1)). You ve planned a production amount of 380 pens. (2) Determine for your production amount (a) standard costs (= Planned cost), allocated cost (b) for a full-cost based accounting system and (c) for a flexible cost accounting system based on marginal costs. (3) You got the following production amounts and actual costs measured. Determine the volume variance (= output variance, v) and consumption variance (= c). Pls. enter your results into the table type below! (4) Enter all values you know into the cost-volume-diagram started already by (1). Case A Case B Case C Actual costs [EUR] 7.800, , ,00 amount [p] cons. variance [EUR] volume variance [EUR] Solution: (1) x for x>=200 and x for x<200; (2) 9800 EUR; 9800 EUR; EUR; (3) consumption variance 200 (600) EUR; 450 EUR; 500 EUR; volume variance 3.473,6 (3.073)EUR, EUR, -316 EUR. Task 5 (30 marks) Calculation and activity based costing Material cost of your product is 890 EUR/p. The cost of the purchase department are EUR and total purchases are EUR. The cost of conversion are (1) production cost and (2) cost for quality assurance. Production costs are allocated by activity type amounts and cost center prices. Quality assurance expenses are to be calculated by an activity based costing system. Production takes place in cost centers A, C, and F. Their final costs and outputs are given in the table below. Each product uses CC A for 3 hours, CC C for 30 min, and CC F for 5 min. CC A CC C CC F Final costs [EUR] , , ,00 output [h]

5 Examination Accounting III FH Osnabrück, page 5 Quality assurance takes place in cost centers Q1 (total costs = EUR) and Q2 ( EUR). You got the following activity analysis from these cost centers. The quality assurance process contains activities 1 (one cost driver used), activity 2 (3 cost driver used), activity 4 (one cost driver used), and activity 8 (one cost driver used in 20%) for each product. Cost for administration are to be considered by an assessment rate based on cost of goods manufactured. Total administration costs are EUR. The total of cost of goods manufactured is EUR. for CC Q1 time spent Amount [CD] Activity 1 10% 200 Activity 2 20% Activity 3 5% 350 Activity 4 10% Activity 5 40% 160 Activity 6 15% 280 for CC Q2 time spent Amount [CD] Activity 4 50% Activity 8 2% 35 Activity 9 8% Activity 10 40% 250 Calculate the lowest cost of goods sold for your product. Solution: 1.051,98 EUR/p END OF EXAMINATION