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The Business School

Level 6 Examination

May 2012

Strategic Management Accounting

Date   :   22 May 2012

Time   :   1.30pm

Time Allowed   :   2 hours

Answer ANY TWO questions


Do not open or turn over this exam paper, or start to write anything until told to by the Invigilator.   Starting to write before permitted to do so may be seen as an attempt to use Unfair Means. |

Answer ANY TWO questions

  1. Universal Components Ltd. produces Batteries, Memory Cards and Universal Power Cables for mobile phones within one producing department. Company’s operating results (in £) for March 2012 are as follows:
Sales 2,152,500
Direct labour expense       271,250
Direct material expense         458,000
Manufacturing overheads
Machine related expenses 336,000
Set up labour   40,000
Receiving & production control     180,000
Engineering   100,000
Packaging and shipping 150,000
Total manufacturing overheads     806,000
Gross margin             617,250
Selling and administration expense   559,650
Operating income (pre-tax)     57,600
Company’s pre-tax margin has dropped to less than 3%, far below their historical 10% margin. Management accountant argues that this can be rectified by changing their cost management system. Currently, the overheads are allocated to all three products at 300% of direct labour cost. A study carried out by management accountant had revealed the following:
  * Machine related expenses might relate more to machine hours than to labour hours.
  * A production set up had to be machined in a production run.
  * People in the receiving and production control departments ordered, processed, inspected and moved each run.
  * The work in the packaging and shipping area had increased during the last two years due to increased number of customers.
  * The month study was typical of on-going operations. However,...

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