The purpose of Assessment item 1 is to establish the skills needed in the workplace for costing products and services using the appropriate processes and tools and apply analytical processes to construct accounting systems and models using workplace tools. Each question uses realistic data and the professional practices similar to that found in workplaces.
Your assignment consists of different question styles including discussion questions, reports, exercises, problem questions and spreadsheet questions. It assesses learning outcomes as listed in the assignment rationale below.
QUESTION 1 Management accounting
Describe the three factors that drive management accounting work. Give examples (about 150 words).
QUESTION 2 Control
What is meant by the control function of management accounting? Give examples (about 150 words).
QUESTION 3 Cost concepts
Which of the following statement is false?
A. Cost accumulation to determine the cost of goods sold is an example of the control function of management accounting work.
B. Cost represents the value of resources consumed to achieve a specific objective.
C. A cost object is an activity for which a cost is required.
D. A cost driver is an activity that causes costs to change.
E. A variable cost varies proportionately with changes in the cost driver.
Explain your answer.
QUESTION 4 Manufacturing statement and income statement
Spreadsheet. See the Spreadsheet Advice PDF in Interact2 Resources and the examples in your textbook.

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