Assignment Task 1: STA101 - Statistics for Business
In the below case study, please make sure you answer all questions and show all necessary working steps. For any part of your answers that used excel, please write your input formula and/or copy your work from excel to your word document.
A student enrolled in the accounting major is attending the first class of the accounting course ACCT101. The student is worried the course is difficult. To alleviate his anxiety the student asks the professor about last year's marks. The professor provides a list of the final marks, which is composed of term work plus the final exam. There are a total 500 students enrolled in this course last semester, the professor provides him a sample of 60 students in one of his tutorial classes. (The 60 students marks will be provided in a separate excel sheet.)
a. Determine the mean, median and mode.
b. Work out the 1st and 3rd quartiles and determine the interquartile range.
c. Calculate the range and the standard deviation of the data set.
d. Professor would like to put these students into the following five categories:
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Grades
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Marks
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Fail
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< 50
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Pass
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50 - 64
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Credit
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65 - 74
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Distinction
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75 - 84
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High Distinction
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85 and above
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Produce a relative frequency distribution, and draw a bar chart and a pie chart. Comment and summarize on your findings.
e. Produce a cumulative frequency distribution, and draw a line chart.
f. Given the confidence level is 90%, work out the significance level and give your interpretation in this question.
Note - Need to support your answers with appropriate Harvard style references where necessary.
Assignment Task 2: ECO202 - Macroeconomics
Question 1: To support people through the economic shock caused by the COVID-19 Pandemic, the Australian Government published some special benefits for those unemployed. How do you think these actions might mitigate the costs of unemployment?
Question 2: An economy is described by the following equations:
C = 1300 + 0.75(Y - T) IP = 500
G = 1200
X = 110
M = 10
T = 1500
Y* = 12000
You are required to:
1. Find a numerical equation linking planned aggregate expenditure to output.
2. Find exogenous expenditure and induced expenditure in this economy.
Question 3: Define the relationship between an interest rate and people's saving rate. Will the decreased saving in Australian households become a big problem for the economy?
Assignment Task 3: ACC203 - Management Accounting
Part A: Practical Questions
Question 1: Barn Farm Pty Ltd, a pet food supplier, employs a process costing system for its manufacturing operations. All direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. The company's production quantity schedule for June 2019 is as following:
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Units (cans)
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Work in process on 1 June (60% complete as to conversion)
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400
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Units started during June
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700
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Total units to account for
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1100
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Units from beginning work in process, which were completed and transferred out during June
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400
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Units started and completed during June
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360
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Work in process on 30 June (20% complete as to conversion)
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340
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Total units accounted for
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110
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Calculate each of the following amounts:
1. Equivalent units of direct material and conversion during June. Use the FIFO method.
2. Equivalent units of direct material and conversion during June. Use the weighted average method.
Question 2: Green Manufacturing Pty Ltd is a computer manufacturing company. At the beginning of 2019, the following estimates were provided for the coming year:
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Machining
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Assembly
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Direct labor-hours
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1,000
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9,000
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Machine-hours
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10,000
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500
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Direct labor cost
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$8,000
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$72,000
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Manufacturing overhead costs
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$25,000
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$360,000
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The accounting records of the company show the following data for Job order from Elite Education:
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Machining
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Assembly
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Direct labor-hours
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50
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120
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Machine-hours
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170
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10
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Direct material cost
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$2,700
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$1,600
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Direct labor cost
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$400
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$900
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Note: overhead costs are applied on the basis of machine-hours for the Machining Department and on the basis of direct labor-hours for the Assembly Department.
Required:
a. Compute the manufacturing overhead allocation rate for each department.
b. Compute the total cost of Job order from Elite Education.
c. Provide possible reasons why Green Manufacturing Pty Ltd uses two different cost allocation rates.
Part B: Analytical Question
Critically discuss the concept of a value chain.
Select any major manufacturing company and describe the segments that you think would be included in its value chain.
Provide a brief explanation of the role of each segment and explain how a retailer could focus on the purchasing segment of their value chain to create competitive advantage.
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