CIMA Study Systems 2006: Management Accounting-Performance by Robert Scarlett

By Robert Scarlett

The 2006 version of CIMA's authentic learn structures were absolutely up-to-date to mirror any alterations within the syllabus. Key sections of the 2006 research platforms are back written via examiners so every one textual content absolutely displays what may be verified within the examination. up-to-date to include legislative and syllabus alterations, the 2006 research structures offer entire examine fabric for the could and November 2005 tests. the recent version continues the preferred loose-leaf structure and comprises: * perform questions all through * entire revision part * subject summaries * prompt studying articles from more than a few journals * might 2005 Q & A's * The reliable examine structures are the one learn fabrics recommended by way of CIMA * up to date to mirror changhes within the syllabus with key sections written by means of examiners * entire built-in package deal incorporating syllabus assistance, complete textual content, urged articles, revision publications and vast query perform

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We feel that California will be rewriting some of the regulations around the performance of our system,’ says Jim Ryan, environmental manager at Aeroscientific. ’ What’s more, Aeroscientific’s system is an ‘excellent source of PR with customers and everyone else,’ Mr. Ryan says. 6 Details of process 67 for August were: Materials transferred from process 57 were 10,000 kg valued at £40,500 Labour/overhead costs were £8,424 Output transferred to finished goods was 8,000 kg Closing WIP was 900 kg Normal process losses are 10% of material input, 100% complete as to labour/overheads at the time of loss and losses have nil scrap value.

2. The work done last period on the opening stock has been excluded from the statement of production. Therefore the costs of the opening stock must be excluded from the statement of costs. Process 2 account Opening stock Process1 Materials added Conversion costs Units 600 4,000 4,600 4,600 £ 1,480 6,280 3,109 14,698 15,567 Process 3* Normal loss Abnormal loss Closing stock Units 3,950 200 100 4,350 4,600 £ 14,122 200 305 15,940 15,567 Abnormal loss account Process 2 £ 305 000 305 Scrap stock Profit and loss £ 100 205 305 *The amount of £14,122 for the transfer to process 3 has been inserted as a balancing figure.

It can also be applied when manufacturing is carried out for the organisation’s own internal purposes, for example in the production of a batch of components to be used in production. 9 Process costing To remind you of the basics of process costing that you learned about in your foundation studies, have a go at the following example. Work through the equivalent units tables carefully and ensure that you understand where each figure comes from. 120 £2,344 2,800 kg 400 kg 10 per cent of materials added in the period The scrapped units were complete in materials added but only 50 per cent complete in respect of conversion costs.

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