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Please read and understand it. It’s not that difficult. Just go along with it.

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I am Dr Liza, your lecturer for MAF551. I hope that by the end of this course, you will know more about management accounting and fall in love with it.

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KALENDAR AKADEMIK SESI I 2021_2022_KUMPULAN B_V2

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Please read an article here titled "Is it still a lesson to learn?" on page 62 - 66.

Then, give your comments on what you have read.
- Do you agree/disagree with what you read?
- Have you any experience regarding this matter that you want to share?
- or anything that you think is worth sharing. anything at all...

You are to place your comment based on your class folder below:
- Go to your class;
- Click on "add comment"
- then write your comment
- don't forget to leave your name in the bracket after your comment. E.g (Amir Asyraff, 3D).
- Done!!!

You may also read other people's comments. Read, and learn from it!

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If you are from Class 3A, please drop your comment here.

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If you are from Class 3B, please drop your comment here.

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If you are from Class 3C, please drop your comment here.

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If you are from Class 3D, please drop your comment here.

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If you are from Class 3E, please drop your comment here.

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If you are from Class 3F, please drop your comment here.

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This would be your syllabus for this semester. Go thru it and try to imagine all the topics. Have you heard about them?

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1.  Budgeting
2.  Budgetary Control
3.  Standard Costing and Variance  Analysis
4.  Decision Making
* Limiting Factors
* Make or Buy
* Special Order
* Discontinuing a Product or       Segment
* Further Processing
5.  Pricing Decision
6.  Responsibility Accounting and Transfer Pricing

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*  Discussion - 4 Topics (10%)
(Topic 1, 4, 5 & 6)
*  Test 1 (20%) - Topics 1 - 5
*  Case Study (10%)
*  Final Assessment (60%)

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3 Types of Manufacturing Costs (Direct Materials, Direct Labor, Manufacturing Overhead)

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Fixed and Variable Costs (Cost Accounting Tutorial #3)

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The High Low Method (for estimating mixed costs in accounting)

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79.  Managerial Accounting Ch9 Pt1: Budgeting

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Watch this video so that you will know what is Budgeting…

Why do companies prepare budget?

Let’s comment a lil bit on what you understand about budgeting. Click comment and write your comment.

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79.  Managerial Accounting Ch9 Pt1: Budgeting

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80.  Managerial Accounting Ch9 Pt2: Master Budget

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Let’s get to know this big master - Its big master budget.

What it is? Why do we call it master?
He must be someone big, right?

So watch the video so that you will know  what are covered under the master budget.

So, are you clear about master budget? Come on, share your thought at the comment section!

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80.  Managerial Accounting Ch9 Pt2: Master Budget

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Let’s watch how do we prepare the sales budget. Or called as the foundation budget in the video.

Why do we call it a foundation budget? Is it very important?

Let’s find out! Then comment about this topic.

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Can you see how does Sales Budget relate to Production Budget?

You can? Wow…. Write your comment below.

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Ok, so where do you get the information to prepare the DM budget?

And why do we prepare the the DM budget?

Sales Budget? Prodcution Budget?

Drop a comment below.

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What? We even prepare the DL budget? Why?

Drop a comment!

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Now, can you see how do we plan everything in our factory, put everything together so that we can come up with how much cost will we incur for a period of time?

This is what we do in the budgeting process.

Are you clear?

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Selling, General, and Administrative Expense Budget

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Ok, let’s move from production to selling and admin. Do we also make a budget for selling and admin? Why?

What do we use to start our Selling and Admin Budget? Drop a comment.

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Selling, General, and Administrative Expense Budget

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OMG!!! There are so many videos to watch!   Hwaaaaaa….

But don’t worry, they are quite short and focus on one topic at a time.

Can you understand them all? Do you feel burdened?

Pls let me know how you feel. Remember, I am here to help you.

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Ok, if you feel like there’s just too many videos to watch and you don’t have time for it, then you can just refer to this note when you are doing your exercises.

It’s short and concise. This is just only short note, not your sole reference. Ok?

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Now, try to look at this question, answer it, and THEN ONLY LOOK AT THE SOLUTION PROVIDED. So that you know whether you really understand what you are learning.

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Now, answer these questions. Can you answer them all?

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Now, what is cash budget?

Where do the data to prepare the cash budget come from?

Can you see the whole picture now? From the sales budget until the cash budget.

Drop your comment. Let me know how do you understand it so far.

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Ok, now read this note to further understand the cash budget.

Best of luck. Not that difficult, right?

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Ok, try to answer this question before looking at its solution.

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Ok, test your understanding by answering this tutorial questions. Can you answer them all?

Drop a comment and tell me your problem.

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Pls read this carefully. Understand the illustration.

When you finish it, you will see that understanding the cost behaviour is very important for this topic.
* What is variable cost?
* What is fixed cost?
* What is mixed cost?
* How do you separate the mixed cost?

If you are still not clear on this concept, then please watch the videos that i put earlier.

This topic is rather short, unlike the functional budget. But doing the questions correctly would require more thinking…

I am sure you can answer it correctly. Just be extra careful with its tedious calculation.

Best of luck.

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Ok, now look at this illustration. Once you can understand this, in syaa Allah, you can answer any questions on flexible budget.

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Your tutorial questions will come from the past years question. Ask you can see, every sem, instead of functional budget, this topic will be asked in the final exam. So make sure you practice a lot of past years exam, then in syaa Allah, scoring your final exam will be a breeze.

This file contains the answer keys to the questions. So, once you have answered the questions, check your answer here.

Best of luck, everyone. I am sure you can do it successfully.

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So what do you think? Easy peasy, right?

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STANDARD COSTING & VARIANCE ANALYSIS: AN INTRODUCTION

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STANDARD COSTING & VARIANCE ANALYSIS: AN INTRODUCTION

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Please read and understand this note to kick start your new topic.

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MORE NOTES ON STANDARD COSTING AND VARIANCE

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MORE NOTES ON STANDARD COSTING AND VARIANCE

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Keep reading to enhance your understanding.

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STANDARD COST CARD AND VARIANCE: AN EXAMPLE - WANNA TWO PLASTIC

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STANDARD COST CARD AND VARIANCE: AN EXAMPLE - WANNA TWO PLASTIC

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Use this question as an illustration. Now try to do the standard cost card.

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NOW, WATCH THIS VIDEO TO UNDERSTAND HOW TO PREPARE THE STANDARD COST CARD

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NOW, WATCH THIS VIDEO TO UNDERSTAND HOW TO PREPARE THE STANDARD COST CARD

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Read this notes.

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Pls watch this video

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Direct Material and Labour Variance by Dr Lizz

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Now, a lil bit on overhead variance

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Then watch this video so that you will better understand it.

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Variance Analysis (Part 2/2) : Overhead Variance by Dr. Lizz

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Ok, now a lil bit on sales variance.

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Ok, watch this video, especially crafted for you...

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TRY TO ANSWER THE SAMPLE QUESTION OF WANNA TWO PLASTIC

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TRY TO ANSWER THE SAMPLE QUESTION OF WANNA TWO PLASTIC

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Look and try this question. Then look at the solution.

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Solve this to see if you have understood them all.

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MATERIAL MIX AND YIELD VARIANCE: A VIDEO

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MATERIAL MIX AND YIELD VARIANCE: A VIDEO

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This video will make you understand the topic better

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Now, read about labour mix and yield variance. Easy peasy. You can do it. Come on….

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LABOUR MIX AND YIELD VARIANCE: THE VIDEO

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LABOUR MIX AND YIELD VARIANCE: THE VIDEO

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Watch this video to make the topic easier and clearer.

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Try to answer this question first before looking at the solution.

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PLANNING AND OPERATIONAL VARIANCE: SOME NOTES

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PLANNING AND OPERATIONAL VARIANCE: SOME NOTES

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Go thru this note. In syaa Allah, you will understand it.

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PLANNING AND OPERATING VARIANCE: THE VIDEO

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PLANNING AND OPERATING VARIANCE: THE VIDEO

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Pls watch this video if you don’t understand the topic.

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Try to solve the question before looking at the solution.

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Solve this questions

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DO THE PAST YEAR QUESTIONS AND CHECK YOUR ANSWERS HERE

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DO THE PAST YEAR QUESTIONS AND CHECK YOUR ANSWERS HERE

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Some notes

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Watch this video so that you can better understand it...

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Watch this video so that you can better understand it...

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Please watch this video to understand the topic

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An illustration to help you

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Try to solve the problem first before you look at the solution.

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Now try to answer these questions.

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PAST SEM EXAM QUESTIONS AND KEY ANSWERS:

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PAST SEM EXAM QUESTIONS AND KEY ANSWERS:

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Pls do these questions for revision:

June 2019 - Q3 - Crunch Bunch:

Shortage: Mat B - 630
CM/LF(ranking/Units to prod):
Lucky = 3(2/1,920);
Happy = 4(1/1,800);
Cheery = 2.50(3/350)

Maximum profit = RM4,070

JANUARI 2018 Q3 - QUPINK SDN BHD

CM/LF(ranking/Units to prod):
Lecitin = 6 (1/300units);
Omega = 5 (4/0); Omega 3 = 5.20 (3/80);
FishOil = 5.50 (2/200 units)

Maximum profit = RM18,760
Revised NP = RM23,850

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Make or buy (Part 2): An Illustration by Dr Lizz

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SOME MORE EXERCISES FROM THE PAST SEM Q:

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SOME MORE EXERCISES FROM THE PAST SEM Q:

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Q3 DEC 2016 MAA DIVISION

Total Manufacturing cost = 9,569,400
Total purchasing cost = 10,244,500

Q3 JUN 2016 - INTAN BAIDURI

A. Relevant cost/unit of:
IB1 = 16.50
IB2 = 14.50
IB3 = 11.50
IB4 = 11.00

B. Cost of making vs buying:
IB1 = 132,000 vs 120,000
IB2 = 232,000 vs 263,000
IB3 = 368,000 vs 380,000
IB4 = 264,000 vs 300,000

C.  Yes, accept the proposal as it will increase the profit by 187,500

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This is your manual for MAF251 that we are going to use this sem. Pls go thru it and refer to it for any tutorial. This manual is only a guideline to MAF251 and should be used with other materials. IT IS NOT YOUR ONLY MATERIAL, BUT SHOULD BE COMPLEMENTED WITH OTHER REFERENCES.

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This is your manual for MAF251 that we are going to use this sem. Pls go thru it and refer to it for any tutorial. This manual is only a guideline to MAF251 and should be used with other materials. IT IS NOT YOUR ONLY MATERIAL, BUT SHOULD BE COMPLEMENTED WITH OTHER REFERENCES.

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Please remember that this copy is just only for your use and not to be shared with others outside of UiTM Terengganu. YOU CAN USE QUESTIONS IN THIS MANUAL FOR FURTHER EXERCISES.

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Please read this note on Special Order

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Happy watching.... hope you can understand

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AN ILLUSTRATION TO HELP YOU BETTER UNDERSTAND IT.

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Accept or Reject (2/2): An illustration by Dr Lizz

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TRY TO SOLVE THE QUESTIONS BEFORE LOOKING AT THE SOLUTION

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Solve this question

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Please try these questions also...

Q3 Dec2019 (b)
The company will suffer a loss of RM110,000 if accepting the special order.

Q3 Dec 2018 (b)
the company's profit will decrease by RM1,500 if the special order is accepted.

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Read this and understand the basic concept

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Try the question first. Then only refer to the answer.

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Ok, now try to solve these questions and see if you can do all of them...

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the key answers are in red...

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MAF551 -Test 1 (Jun 2021) Question with key answers

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We will discuss the answer in the class.

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Read the notes first

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YOUR VIDEO TO MAKE YOU BETTER UNDERSTAND IT.

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YOUR VIDEO TO MAKE YOU BETTER UNDERSTAND IT.

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Now, solve the question first. Then only look at the answer.

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Ok, test if you can really understand the topic. Answer these questions.

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Solve this question

Q3 JUN 2018  (Zin Rubber Bhd)

a.  Silicon and Bilicon
b.  Silicon = 15,198
Bilicon = 9,000
Dilicon = 1,902

c.  i. profit 325,000 (if company still has axcess capacity, SO should be accepted; otherwise, consider the OC if no excess capacity)

c. ii. reasons for difference in sales price:
Silicon - 55,000 units for SO
Bilicon - no additional demand in open market, so it needs to be sold at separation points;
Dilicon - will only provide positive controbution to the company if it is sold at separation point

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Go thru this to give you some ideas.

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Learn how to set the price of a product.

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Things you should know...

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Watch this video to further understand the topic.