Business Accounting

BAAB 1014 BUSINESS ACCOUNTING Assignment Guidelines and Rubrics TEST - 20% Leaming outcomes 1. Explain the basic concepts of accounting, bookkeeping and cost accounting terminology. 2. Systematically recording business transactions in appropriate accounting records. 3. Prepare basic financial statements, management reports and various alternative cost management system Instructions: Answer all questions. QUESTION 1 Multi Cakes Sdn Bhd is involved in selling cakes. You are required to classify the following costs according to their behaviour. (Total: 5 Marks) QUESTION 2 Below are the transaction in relation to Mutiara Enterprise for January 2020 Required: a) Identify the effects (increase/decrease) of the above transactions on assets, liabilities, owner's equity, revenues and expenses. (5 marks) b) Identify the double entry for the above transactions (5 marks) (Total: 10 Marks) QUESTION 3 Walla manufactured Sdn Bhd is a car manufacturer that produce side mirror with a saies price of RM350 and a variable cost of RM150. Fixed costs are RM250,000 per annum with total unit sold was 1,400 units. You are required to calculate the following: A. Contribution / Sales ratio. (2 marks) B. Number of units to break-even. (2 marks) C. Sales (RM) at break-even point. (2 marks) D. Number of units to be sold to achieve a profit of RM150,000 per annum (4 marks) E. Based on B above, find the margin of safety in units. (2 marks) F. Briefly describe the margin of safety and its importance in a business. (3 marks) (Total:15 Marks)