BUSS 1602 Middle East College Direct and Indirect Costs Questions Question number 3 ((only)) Details are attached (a) Determine and calculate the foll

BUSS 1602 Middle East College Direct and Indirect Costs Questions Question number 3 ((only))

Details are attached

(a) Determine and calculate the following costs for the two years given in the annual report of your chosen company:

i. Materials Cost (direct and indirect)

ii. Labor Costs (Direct and indirect)

iii. Manufacturing (factory) overheads

iv. Manufacturing costs (Product Costs)

v. Non-manufacturing Costs (Period Costs)

(b) Now write a critical analysis and the possible reasons for the differences in these costs for the two Years you calculated in part (a). Cost Accounting (BUSS 1602) -Spring 2020 – CW1 – All – QP
In Semester Individual Assignment-Spring 2020
Module: Cost Accounting (BUSS 1602)
Level: 5
Max. Marks: 100 (Weightage 50%)
Instructions to Student:


This is an individual assignment.
Students should read the tasks carefully and answer all questions.


Deadline of submission: 03/06/2020 23:59
The marks received on the assignment will be scaled down to the actual weightage of the assignment
which is 50% marks.
Feedback after final evaluation will be provided by 18/06/2020

Learning outcomes to be achieved by completion of the assessment:
1. Distinguish between cost accounting, management accounting and financial accounting and
describe cost by classification, behavior and purpose.
2. Differentiate between direct and indirect costs, fixed and variable costs and comprehend why
such a distinction is important.
ASSIGNMENT TASK
You are required to visit the Muscat Securities Market’s website (www.msm.gov.om) and choose a
“manufacturing company”. There is large number of listed manufacturing companies therefore every student
will chose a different manufacturing company. Company will be assigned to the student on the basis of “First
Come, First Serve” rule. It means that the student who will submit the company name first will be given that
company first. In other words, if two students have chosen the same company then the student who will
submit the company name first will be assigned that company first. Further clarifications and details will be
provided by the instructor during online session. Once the company is chosen then you have to perform the
following tasks and submit a report.
1. Write General Description/Profile of the chosen company. In the description you are require to write
history of the company, location, nature of the business, type of industry, types of products and services,
organizational hierarchy, list the names of the competitors, etc.)
BUSS 1602 (QP)
(15 Marks)
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Cost Accounting (BUSS 1602) -Spring 2020 – CW1 – All – QP
2. Identify the following responsibility centers of your chosen company:
a. Cost Center(s)
b. Revenue Center(s)
c. Profit Center(s)
d. Investment Center(s)
(10 marks)
3. (a) Determine and calculate the following costs for the two years given in the annual report of your chosen
company:
(30 marks)
i.
ii.
iii.
iv.
v.
Materials Cost (direct and indirect)
Labor Costs (Direct and indirect)
Manufacturing (factory) overheads
Manufacturing costs (Product Costs)
Non-manufacturing Costs (Period Costs)
(b) Now write a critical analysis and the possible reasons for the differences in these costs for the two
Years you calculated in part (a).
(10 marks)
4. (a) Identify the variable costs and the fixed costs of the chosen company. Logically justify and briefly
explain how did you identify these costs as variable costs and fixed costs?
(15 marks)
(b) Now calculate total variable cost (TVC) and total fixed costs (TFC) of the company.
(10 marks)
———————————————————————————————————————————Further Instructions to the Students:
1. Answer all questions.
2. Assignment should be completed individually and not in groups.
3. This assessment would be weighted to 50% towards the final marks.
4. Students can access/extract relevant information not only from the website of the company and
annual reports of the company but also may access from other study resources, for example,
newspapers, magazines, journals, etc.
5. The report should have a table of contents, answers to the questions and appropriate references.
6. Use CU-Harvard style of referencing to do this assignment.
7. The report must have a cover page indicating the module title, name of student, name of faculty and
date of submission.
8. The report should be done in Word, font size 12, font style Times New Roman, text color black, colors
can be used ONLY in appendices, if required.
9. As per MEC policy, any form of violation of academic integrity will invite penalty. Plagiarized
documents, in part or in whole, submitted by the students will be subject to this policy. (Refer
Plagiarism Policy in detail on page 4)
10. Total number of words to be used to complete this assignment should not exceed 1,500.
11. Late submission shall be penalized as per the norms of MEC mentioned in the Module
Information Guide. Penalty for late submission – 5% of the maximum mark specified for the
assessment is to be deducted for each working day for a maximum of one week.
12. Overall clear writing, formatting of the report, and referencing carry 10 Marks.
BUSS 1602 (QP)
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Cost Accounting (BUSS 1602) -Spring 2020 – CW1 – All – QP
Rules & Regulations:





All resources should be cited using CU Harvard style.
The final assignment must have a Title page, Table of Contents, References/ bibliography using CU
Harvard Style and page numbers.
Title Page must have Assignment Name, Module name, Session, your name, ID, and the name of the
faculty.
Softcopy in word format is to be submitted through Turnitin link on Moodle.
If instructor deems necessary then viva may be conducted after the assignment submission as per the
dates informed earlier.
Guidelines:

Assignment must be computer typed.

Font – Times New Roman

Font – Style – Regular

Font – Size – 12

Heading should be with Font Size 14, Bold, Capital and Underline.

Explain with suitable diagrams wherever required. Diagrams must be drawn using suitable software or
by pencil.
Each student has to do the assignment individually.
You can refer books in eLibrary or use internet resource. But you should not cut and paste material
from internet nor provide photocopied material from books. The assignment answers should be in
your own words after understanding the matter from the above resources.


Important Policies to be followed
1. Student Academic Integrity Policy*:
MEC upholds the spirit of academic integrity in all forms of academic work and any form of violation of
academic integrity shall invite severe penalty. Any benefit obtained by indulging in the act of violation of
academic integrity shall be cancelled.
All cases of violation of academic integrity on the part of the student shall fall under any of the below
mentioned categories:
1. Plagiarism
2. Malpractice
3. Ghost Writing
4. Collusion
5. Other cases
BUSS 1602 (QP)
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Cost Accounting (BUSS 1602) -Spring 2020 – CW1 – All – QP
If the student fails a module and has a proven case of academic integrity violation in this module, the
student is required to re-register the module. This is applicable to first and second offenders of plagiarism.
1. Plagiarism
A. First offence of plagiarism
I.
If a student is caught first time in an act of plagiarism during his/her course of study in any
assignment other than project work, the student will be allowed to re-submit the assignment
once, within a maximum period of one week. However, a penalty of deduction of 25% of the
marks obtained for the resubmitted work will be imposed.
II.
Period of re-submission: The student will have to re-submit the work one week from the date
he or she is advised to re-submit.
III.
If the re-submitted work is also found to be plagiarized, then that assessment will be awarded
a zero mark. Re-submission of the work beyond the maximum period of one week will not be
accepted and the assessment will be awarded a zero mark.
B. Second offence of plagiarism
If any student is caught second time in an act of plagiarism during his/her course of study (in a
subsequent semester), the student will directly be awarded zero for the work in which plagiarism is
detected. In such cases, the student will not be allowed to resubmit the work. A warning of suspension
shall be issued, and student has to sign an undertaking and undergo counseling session in such cases.
2. Malpractice/Ghostwriting/Collusion
A. First offence of Malpractice/Ghost-writing/Collusion
If a student is caught in an act of Malpractice/Ghostwriting/Collusion for an assessment
component irrespective of coursework or end semester, the student shall fail the module and
shall be required to re-register the module
B. Second Offence of Malpractice/Ghost-writing/Collusion
If a student is caught a second time in an act of Malpractice/Ghostwriting/Collusion for an
assessment component irrespective of coursework or end semester, the student shall fail the
module. A warning of suspension shall be issued, and student has to sign an undertaking and
undergo counseling session in such cases.
3. Third Offence of Academic Integrity Violation
If a student is caught a third time in an act of Academic Integrity Violation for an assessment component
irrespective of coursework or end semester (in a subsequent semester), the student shall fail the module
and also shall be suspended for one semester from the College, as recommended by institutional level
academic committee, Chaired by the Associate Dean, Academic Affairs.
4. Fourth Offence of Academic Integrity Violation:
BUSS 1602 (QP)
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Cost Accounting (BUSS 1602) -Spring 2020 – CW1 – All – QP
If a student is caught a fourth time in an act of Academic Integrity Violation for an assessment component
irrespective of coursework or end semester (in a subsequent semester), the student shall fail the module
and also shall be expelled from the College, as recommended by institutional level academic committee,
Chaired by the Associate Dean, Academic Affairs.
5. Other cases
If a student commits an act of academic integrity violation as per the definition of “other cases”
mentioned in the previous section or of a different nature, student’s case shall be forwarded to an
institutional level academic committee, Chaired by the Associate Dean, Academic Affairs. The committee
shall investigate the case by means of a viva and/or a disciplinary hearing and shall take appropriate
decision. The penalty that can be granted to a proven case of academic integrity violation which falls in
this category of “other cases” can be a warning/component zero/ module fail/suspension/expulsion
depending on the nature and gravity of the offence.
6. Types/Variations of Cases:
I.
II.
III.
IV.
If plagiarism is detected in any component of one assessment, the deduction in marks will be
applicable for the whole assessment, even if only the component or part submission alone needs to be
resubmitted.
If plagiarism is detected in a group assessment, all students of the group will be considered as having
committed an act of plagiarism and the policy will then be applied to all students
If plagiarism is detected in any component of a group assessment, the deduction in marks will be
applicable for the whole assessment even if only the component or part submission alone needs to be
resubmitted.
All students of the group would be considered as having committed an act of plagiarism and the policy
will then be applied to all the students of the group.
If the assessment consists of components or part submissions that could be a group assessment
component (e.g. group assignment) and an individual assessment component (e.g. individual
reflection), the following will be applicable:
a.
If plagiarism is detected in the group assessment component, all students of the group will be
considered as having committed an act of plagiarism, The policy will then be applied to all
students of the group. Group assessment component will be resubmitted as per the policy.
b.
If plagiarism is detected in the individual assessment component, the individual assessment
component will be resubmitted and the policy will then be applied to that student alone.
c.
For both (a) and/or (b), the deduction in marks will be applicable for the whole assessment.
* for further details Refer to MEC Student Academic Integrity Policy in Student Handbook.
2. Late Submission Regulations:
It is the students’ responsibility to check all relevant timelines related to assessments.
BUSS 1602 (QP)
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Cost Accounting (BUSS 1602) -Spring 2020 – CW1 – All – QP
As per the Assessment Policy at MEC, late submissions are allowed for one week (5 working days) for
all UG modules with a penalty. In such cases, a deduction of 5% of the marks obtained for the
submitted work shall be imposed for each working day following the last date of submission till
the date of actual submission. Assessment documents submitted beyond a period of one week (5
working days) after the last date of submission will not be accepted and will be awarded a zero for that
assessment. In cases where the submission has been delayed due to extenuating circumstances, the
student may be permitted to submit the work without imposing the late submission policy stated
above. The extended period of submission will be one week from the original last date of submission.
In such cases, the student is expected to submit the supporting certificates on or before the original
last date of submission of the assessment and the decision of extension rests with faculty responsible
for the assessment .The late submission policy shall be applied if the student fails to submit the work
within one week of the original last date of submission.
Students may contact their teachers for clarification on specific details of the submission time if
required.
3. Research Ethics and Biosafety Policy
To protect and respect the rights, dignity, health, safety, and privacy of research subjects involved
including the welfare of animals and the integrity of environment, all student projects are expected to
be undertaken as per the MEC Research Ethics and Biosafety Policy. Accordingly the following shall
apply.
 Research and other enterprise activities shall be conducted by maintaining the high ethical standards
consistent with national and international standards and conventions.

Any research at MEC that is categorized as high-risk research shall be subject to review and approval
by the Research Ethics and Bio-safety Committee.

Research activities involving collection of human or animal tissues and manipulation of microbial,
animal or plant cells shall be subject to review and approval by the Research Ethics and Biosafety
Committee.

Participants involved in research must be informed about the purpose of research and intended uses
of research findings. Written consent must be obtained from people involved prior to the
commencement of research.

Data obtained from participants must be treated with high confidence and should be used only for the
intended purpose of research.
Assessment Grading Criteria
90-100%
BUSS 1602 (QP)
Exceptionally detailed and original response to the assignment, with
critical use of independently sourced contextual material.
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Cost Accounting (BUSS 1602) -Spring 2020 – CW1 – All – QP
Outstanding
80-89%
Excellent
70-79%
Very good
60-69%
Good
50-59%
Competent
40-49%
Basic
30-39%
Retrievable fail
20-29%
10-19%
0-9%
Outstanding demonstration of linked understanding of relevant theory,
concepts and models. Extremely well structured with high level of analysis.
No obvious errors in referencing or grammar or syntax as appropriate.
Very full, independent response to the assignment with totally relevant material which is
well beyond any module input, demonstrating
independent study. Excellent understanding of relevant theory,
concepts and models. Very clear logical structure.
Very few errors in referencing or grammar or syntax as appropriate.
Full response to the assignment with all content relevant and focused. Very
good understanding of relevant theory, concepts and models.
Application of appropriate theory to examples/practice, demonstrating a
rigorous approach to a variety of ideas, contexts and frameworks.
Few errors in referencing or grammar or syntax as appropriate.
Answers most if not all detailed aspects of the question. Content mainly relevant. Good k
nowledge and understanding of relevant theory and concepts and application of theoreti
cal models. Evidence of a developing appreciation of contextual issues.
Some small repeated errors in referencing or grammar or syntax as appropriate.
Main issues addressed and solid attempt to answer question. Some
relevant content applied. Sound knowledge and understanding of
relevant theory and concepts and identification of main issues
Some repeated errors in referencing or grammar or syntax as appropriate.
Satisfactory attempt to address question/issues with some content
relevant to assignment topic. Material engages with relevant module materials, but large
ly repeats taught
input and lacks development or personal interpretation. Some general understanding of
topic theory and concepts. Lacks coherence.
Some learning outcomes and / or assessment criteria not met.
Questions not answered fully. Content not wholly relevant. Little or no evidence of under
standing of relevant theory. Very repetitive of taught input –
no development or application. The use of extensive quoted passages evident.
Evidence of sufficient grasp of learning
outcomes to suggest that the participant will be able to retrieve the module on resubmis
sion.
No learning outcomes fully met. Little attempt to engage with the module materials or id
eas.
Little attempt to engage with assignment brief and has not met learning outcomes. Inade
quate demonstration of knowledge or understanding of key
concepts, theories or practice.
No real attempt to address the assignment brief or learning outcomes
The End!
BUSS 1602 (QP)
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