No referencing needed. Answers must be written in the template.
Swinburne University of Technology ACC10007 Faculty of Business and Law Financial Information for Decision Making ACC10007 Financial Information for Decision Making Semester 2 2020 (24-hour Assessment) ASSESSMENT DETAILS CANDIDATE DETAILS - Student to complete ID: Surname: Given: CANDIDATE DECLARATION (please place an X next to the ) I am the person stated above I agree to obey the Final assessment instructions for proper conduct of the assessment I have read and understood the Instructions to Candidates provided I understand that it is my responsibility to ensure that I have been correctly enrolled for the above subject and that I am fully liable for any outstanding fees and charges I am aware that I am not allowed to present for any special examination unless approval has been granted by the appropriate Swinburne authority. Assessment Declaration Declaration and statement of authorship 1. I have not impersonated, or allowed myself to be impersonated by any person for the purposes of this assessment. 2. This assessment is my/our original work and no part of it has been copied from any other source except where due acknowledgement is made. 3. No part of this assessment has been written for me by any other person except where such collaboration has been authorised by the lecturer/teacher concerned. 4. I have not previously submitted this work for this or any other course/unit. 5. I give permission for my assessment response to be reproduced, communicated, compared and archived for plagiarism detection, benchmarking or educational purposes. I understand that: · Plagiarism is the presentation of another person’s work as though it is your own. It is a form of cheating and is a very serious academic offence that may lead to exclusion from the University. Plagiarised material may be drawn from published and unpublished written documents, interpretations, computer software, designs, music, sounds, images, photographs, and ideas or ideological frameworks gained through working with another person or in a group. Plagiarised material can be drawn from, and presented in written, graphic and visual form, including electronic data and oral presentations. Plagiarism occurs when the origin of the material used is not appropriately cited. I agree and acknowledge that: 1. I have read and understood the Declaration and Statement of Authorship above. 2. I accept that use of my Swinburne account to electronically submit this assessment constitutes my agreement to the Declaration and Statement of Authorship 3. If I do not agree to the Declaration and Statement of Authorship in this context, the assessment outcome may not be valid for assessment purposes and may not be included in my aggregate score for this unit. Further information relating to the penalties for plagiarism (Links to an external site.), which range from a formal caution to expulsion from the University, is contained in the Student Academic Misconduct Regulations 2012 which is available on the Policies and Regulations (Links to an external site.) website. STUDENT SIGNATURE OR EMAIL: DATE INSTRUCTIONS TO CANDIDATES This assessment should reflect your own work. Breach of this requirement will constitute student academic misconduct: https://www.swinburne.edu.au/about/leadership-governance/policies-regulations/statutes-regulations/student-academic-misconduct/#Part_2_Academic_Misconduct_Students All assessments will be put through Turnitin to determine similarities between submissions. Please note the following: · This paper consists of seven (7) questions. · This assessment is worth 50% of the total assessment in the unit. · Marks will be awarded to the candidate based on the detail provided and correctness of their response. · If candidates need to make assumptions when responding to any question, the assumption and the reason for the assumption must be clearly specified in their response. Please upload this Final Assessment Answers Template document on Canvas by Wednesday 11 November 2020 at 9am (there is no requirement to upload the Final Assessment Questions file). Please note that you are permitted to amend this template where necessary. Please use this format as a guide when answering the questions, but the amount space is not indicative of the size of the answer required and you are expected to adjust it for your own purposes. Question 1 (22 marks) Q1 a) Complete the worksheet for the year ending 30 June 2020 (12 marks) WORKSHEET Assets Liabilities & Owners Equity Non Current Non-current Current Current Equity Notes Balance @ beginning transactions/adjustments Q1 b) Prepare are a Statement of Profit or Loss for the year ending 30 June 2020 (5 marks) Q1 c) Prepare a Statement of Financial Position as at the 30 June 2020 (5 marks) Question 2 (18 marks) Q2 a) Calculate the total projected overhead for all tours. Show all calculations. (1 mark) Q2 b) Calculate the predetermined overhead rate under the traditional method used by Lance, based on the number of tours to be undertaken. Show all calculations. (1.5 mark) Q2 c) Calculate the overhead cost of each type of tour (Easy and Advanced) using the traditional method. Show all calculations. (2 marks) Q2 d) Calculate the overhead cost of each tour (Easy and Advanced) using the activity drivers and associated activity costs. Show all calculations. (9.5 marks) Q2 e) Discuss in detail the conclusions you reached regarding the overhead costs for each type of tour for each cost allocation method. (4 marks) Question 3 (14 marks) Q3 a) Prepare a properly classified Statement of Cash Flows for the year ended 30 June 2020 from the above information. Show all workings. (12 marks) Workings Q3 a) Statement of Cash Flows Statement of Cash Flows Q3 b) Provide two reasons why a company may have a net profit but negative cash flows from operating activities. (2 marks) Question 4 (13 marks) Q4 a) Calculate the contribution margin per unit for 2019. (2 marks) Q4 b) What was BPI’s breakeven point in units and dollars for 2019? (2 marks) Q4 c) What was the margin of safety in units and dollars for 2019? (2 marks) Q4 d) How many units of the product would BPI have had to sell in the past year to earn a profit-before-tax of $140,000? (2 marks) Q4 e) If BPI holds the sales price constant and makes the above changes, how many units of product must be sold in 2020 to break even? (3 marks) Q4 f) Based on your findings should BPI go ahead with the changes? (2 marks) Question 5 (10 marks) Q5 a) Should OutTel continue to manufacture the ADM57 part or buy it? (7.5 marks) Q5 b) Would your decision in a) be different if the storage rental was still required? Show your workings. (2.5 marks) Question 6 (14 marks) Q6 a) Calculate the return on investment (ROI) for each of the two stores. (2 marks) Q6 b) Calculate the residual income (RI) for each of the two stores. (2 marks) Q6 c) Discuss the performance of the Hawthorn store in comparison to the Mount Martha store based on absolute profit and your calculations of ROI and RI. (3 marks) Q6 d) The management accountant is concerned that the owner