CLUSTER OF BUSINESS & MANAGEMENT

September 2022

BDAP2203

BASIC OF MANAGEMENT ACCOUNTING

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PUSAT PEMBELAJARAN :

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 Contents
QUESTION 1......................................................................................................................3
The difference between financial and management accounting......................................3
QUESTION 2......................................................................................................................6
The diferrence between process costing and job order costing system...........................6
QUESTIOIN 3.....................................................................................................................8
A) Mixed cost.............................................................................................................8
B)...................................................................................................................................10
i) Variable cost per unit.............................................................................................10
ii) Fixed cost..............................................................................................................10
iii) Cost funtion..........................................................................................................11
iv) operating cost incurred if the weight of fruits is 163,000 kg...............................11
PART II ONLINE CLASS PARTICIPATION.............................................................12

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2
QUESTION 1

The difference between financial and management accounting.

Financial accounting and managerial accounting comprise the majority of accounting
tasks. Given that each of these two accounting subfields represents a distinctively
different career path, it is helpful to discuss the contrasts between them. In general,
managerial accounting refers to the internal procedures used to account for business
activities, whereas financial accounting refers to the compilation of accounting data into
financial statements. The following list of distinctions between managerial and financial
accounting is not exhaustive.

 Valuation
Financial accounting is concerned with knowing the proper value of a company’s assets
and liabilities. Managerial accounting is only concerned with the value these items have
on a company’s productivity.

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3
QUESTION 2
The diferrence between process costing and job order costing system.

In accounting, costing refers to calculating manufacturing expenses such as overhead,

materials, labor and time. Knowing the cost of manufacturing products can help
companies make decisions, including how to price their products and order materials.

Companies can track the costs of the things they create using task order costing and
process costing. However, there are significant distinctions between process costing and
job order costing. It can be useful to efficiently track your company's production
expenses, make sure you're making a profit, and analyze other crucial financial data if
you understand the similarities and differences between the two.

The manufacturing of tiny, one-of-a-kind batches of goods that customers purchase can
be monitored through the use of job order costing. We may monitor project costs via a
task order costing system and make sure that our business makes enough profit on each
order to cover operating costs.

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4
QUESTIOIN 3
A) Mixed cost

Many costs contain both variable and fixed components. These costs are called mixed or
semi variable. With a mixed cost, there is some fixed amount plus a variable component
tied to an activity. It is important to understand the mix of these elements of a cost, so
that one can predict how costs will change with different levels of activity. Typically, a
portion of a mixed cost may be present in the absence of all activity, in addition to which
the cost may also increase as activity levels increase. Mixed costs are harder to evaluate,
because they change in response to fluctuations in volume. But, the fixed cost element
means the overall change is not directly proportional to the change in activity. As the
level of usage of a mixed cost item increases, the fixed component of the cost will not
change, while the variable cost component will increase. The formula for this relationship
is:

Y = a + bx

Y = Total cost
a = Total fixed cost
b = Variable cost per unit of activity
x = Number of units of activity

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iv) operating cost incurred if the weight of fruits is 163,000 kg

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Juicy Fruits Sdn Bhd estimates that 163,000 weight of fruits is needed,
Total cost = Rm44, 700 + RM0.65 (163,000)
= RM150, 650

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