ACC202 Financial and Managerial Accounting Assignment Answer
In Australia, students can find many public and private universities offering accounting and financial courses. One of them is King’s Own Institute located in Sydney. It is known for offering high-quality courses in business, accounting, and TESOL. In this blog, we are going to discuss all the necessary details related to ACC202 Managerial Accounting assessment, including the case study, the background of the assignment, and what you should know to score well in this task.
Learning Outcomes and Purpose of ACC202: Accounting Assessment
This is a group case study task in which you are required to prepare a report and analysis that should not exceed 2500 words. The key purpose of this assessment is to help university scholars to combine the theoretical aspects and technical skills related to management accounting. Also, students will be able to demonstrate the ability to examine the information and present their findings. As the ACC202 is a group assessment, so you will learn to develop team building, team working, and problem-solving skills. The maximum number of students allowed in a group is 5 and the assignment should be submitted as on or before the last date. Note: If you have included any table or calculation in your paper, you must copy and paste them into a word document and check it via Turnitin.
Based on the above-given case study of Cools Destinations Ltd, you are required to answer a few questions that are given below. But before that, it is necessary to read the case study twice to understand the case scenario. Also, it will help you in answering the questions. Once you have read the whole case study, try to answer the question given below in the snippet.
An Expert’s Approach to solve ACC202 Financial and Accounting assessment Questions
Question 1: In question 1, you are required to answer four different sections. These questions require adequate knowledge of determining cost, for example; the cost of accommodation per person, cost of accommodation per person per day, which will be the maintenance cost of accommodation, etc. You should also use process costing. Process costing can be termed as a technique that helps in evaluating the profit gained from a process and decide what and how performance can be enhanced. Moreover, it assists in examining the product line of business to check the performance of a particular product line and steps to be taken into account accordingly.
Question 2: Question 2 asks you to assess the total profitability statement of accommodation per day per person. Based on the given data in the case study, the total collection from the accommodation will be 2400*5*$40 = $480000. The case study shows that 2400 backpackers will stay for 5 days that is equal to 12000 days and per day charge is $40. The total accommodation service cost is $473400. Now, we have all the required data to calculate profit. So, subtract total revenue from the total cost and you will get the profit.
Question 3: To calculate the cost of ingredients, you have to use the hybrid costing approach. First, you have to assume that the restaurant and kitchen cost per customer depends on hybrid costing. The evening meal is another factor that helps in determining the maximum revenue as it includes the cost of table service, cost of kitchen service and cost of ingredients. However, the result will be like –
Question 4: You must have to discuss whether the evening meal is profitable or not. Therefore, you should understand the above analysis and answer the question accordingly. Also, you must know how to calculate the evening meal cost and profitability.
Reach out to the Accounting Experts for the Best Assistance for Your Assignments
If you are unable to answer these questions, feel free to get help from our experienced managerial accounting assignment experts. They will provide exact accounting assignment solutions for all your questions. Apart from this, you will be provided with a free Turnitin report along with your assignment order. In case, you have already written the ACC202 Financial and Accounting assessment but not sure with its quality, then do avail our proofreading and editing service. Under this service, our accounting assignment help expert will scan your paper to find errors and also check whether you have covered all the details or not and make changes as per the requirements. So, hurry and speak to our customer care team to find out further details on our academic services.