Course Title: Produce job costing information

Part B: Course Detail

Teaching Period: Term2 2015

Course Code: COSC6163C

Course Title: Produce job costing information

School: 650T Vocational Business Education

Campus: City Campus

Program: C4324 - Certificate IV in Accounting

Course Contact : Ian Nash

Course Contact Phone: 99255733

Course Contact Email:ian.nash@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

 Anjella Davydov

anjella.davydov@rmit.edu.au

Nominal Hours: 40

Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

Pre-requisites and Co-requisites

None

Course Description

This unit covers the competency to calculate and record the job costs of products and services. This unit requires the application of skills and knowledge required to produce job costing information. The unit encompasses gathering and recording operating and cost data and producing cost reports. The unit has application to those job functions such as cost clerk.


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSACC407A Produce job costing information

Element:

1. Gather and record operating and cost data

 

 

 

Performance Criteria:

1.1 Data is extracted from established systems
1.2 Data is systematically coded, classified and checked for accuracy and reliability in accordance with organisational policies and procedures
 

Element:

2. Produce cost reports

Performance Criteria:

2.1 Costs are assigned to specified products and services
2.2 Data is reconciled to ensure calculations are accurate and comply with organisational procedures
2.3 Cost information advice is sought from all sections of the organisation when formulating budgets
2.4 Structure and format of budgets and reports are clear and conform to management information requirements
2.5 Variances against budget are identified
2.6 Reports are error free, comprehensive and comply with management requirements and organisational practices
 


Learning Outcomes


The following Learning Outcomes are required:

• demonstrate knowledge of organisational operating procedures
• demonstrate knowledge of relevant legislation
• demonstrate knowledge of standard accounting principles and practices
• gather and record operating and costs data
• produce cost reports
 


Details of Learning Activities

Students will use the notes on Blackboard, Textbook and suggested questions to assist their learning.  Some of the work will directly be complemented by using Excel worksheets to complete the exercise.  This incorporates the competency Design and Produce Business Documents. (BUSM6232C)

Several document camera sessions have been recorded for the major practical tasks illustrating HOW TO answer a selected example question.  They will be particularly useful if you are absent from a scheduled class at any time.  The sessions run for approximately 10-20 minutes and work through the answer to the question. They are accessed via Blackboard and located under each topic folder.


Teaching Schedule

Weekly Program and Assessment Guide COSC6163C 2015.

This course is part of a cluster with Design and Produce Business Documents (BUSM 6232C).  As such it is co-delivered and co-assessed. The assessment tasks for Produce Job Costing Information are included in this Teaching schedule.  The assessment tasks for Design and Produce Business documents are included in that course guides Teaching schedule.

Week DateTutorial Topic as per Student Learning GuideLearning outcomes
1 July 6

Topic. Introduction to course including review
of course guide, weekly program and
assessment guide and use of the Blackboard and Grade Centre 

 

N/A
 
2 

July 13

 

Topic 1. Introduction
Topic 2. Terminology
 
An understanding of the many costing definitions
 
3 July 20Topic3 . Inventory ManagementAn understanding of why Inventory Management is important to a business
 
4 July 27Topic4. Inventory Management
Topic5. Inventory Management-(Purchasing
and storage)
 
Control steps for proper management of the purchasing and storage functions as part of Internal control procedures in a business.
5 Aug 3Topic 6. Materials Control
 
An understanding of the Internal control processes needed for the proper management of materials fom store to production
6 Aug 10Topic.6a Materials AccountingComplete the accounting entries in journals and ledgers
7 

Aug 17

 

 

Topic 7. Labour Control
Topic 8. Labour Accounting 

 
Preparation of Labour cost information for processing through the accounting system
8 Aug 24

Topic 7. Labour control

Topic 8 Labour accounting
 

           

 

Preparation of Labour cost information for processing through the accounting system

Revision for Test 1
 

  Aug 31

 Mid Semester break (August 31- September 4)

           

 Preparation for Test 1 in week 9

 

 

9            

Sept 7

 

 

 Test 1

 

           

Test 1 covering Introduction, Inventory and Labour topics.Topics 1-6
 

10 

Sept 14

 

 Topic 9. Accounting for Manufacturing
overhead
 

 

  Complete accounting entries for the control of Manufacturing Overhead
 
11 Sept 21Topic 10. Job costing transaction analysis (Job cards)

Produce Job costing data for processing through the accounting system

 Assignment: Preparation of a Manufacturing Budget manually as preparation for completion using Excel as part of the co-delivered competency Design and Produce business documents

12 

Sept 28

 

Topic10. Job costing for service OrganisationsProduce Job Costing Information for service business
13 Oct 5Topic11. Manufacturing Statements Produce the alternative formats for Manufacturing Statements
14 

 

 Oct 12

 

 Review of topics 9-11

 Revision
15 Oct 19 Test 2 Test 2 covering the remainder of the program (topics 9,10,11)
16 Oct 26Retests Student retests
     
   FLEX ED PROGRAM   
1 July 6 Topic. Introduction to course including review
of course guide, weekly program and
assessment guide and use of Blackboard and Grade Centre

 

An understanding of the many costing definitions

Read Topic 1 and 2 class notes from Blackboard files

Do ST qns 1.1-1.8 from text

Qns: 1.3-1.7, 1.16-1.17 from text
 

2            

 July 13

 

Inventory Management

Do qns

ST 3.1-3.2, 4.3-4.5

Qns 3.1-3.3, 3.7-3.8

 

 
3  July 20 

 

 

 Inventory Management

Do qns

ST 3.1-3.2, 4.3-4.5

Qns 3.1-3.3, 3.7-3.8

 

 


 

 

4  July 27 Materials Control
 


 

5  Aug 3

 Materials Control

Labour Control
 Do qns 5.2-5.7 from text


 

6 

 

 Aug 10

Labour Control

 Do qns 5.2-5.7 from textbook
 

 

 

7            

 Aug 17

 

Non attendance week 

Review of topics so far in preparation for test 1

Class attendance

Preparation of Labour cost information for processing through the accounting system

Review topics 7-8

Do qns 5.2-5.7 from text


 

 8            

 Aug 24

 

Revision for Test 1

 

Mid semester break.  Aug 24-28
 
9 Sept 7 

 

 Test 1

 Test 1 covering Introduction, Inventory and Labour topics

 





 .


 

10  Sept 14        

 

 
 Topic 9. Accounting for Manufacturing
overhead
 

 Do qns 6.1, 6.2,.6.4, 6.20, 6.30, 6.24, 6.26 from text

 

 

 


 

 

11 

 Sept 21

 

 

Topic10. Job costing

Do qns 8.1, 8.2, 8.3, 8.7, 8.9, 8.12


Assignment: Preparation of a Manufacturing Budget manually as preparation for completion using Excel as part of the co-delivered competency Design and Produce business documents  

12 

 Sept 28

 

 

Topic11. Manufacturing Statements

Do qns 2.1-2.4, 2.13, 2.14, 2.12

Self directed learning

Produce the alternative formats for Manufacturing Statements

 

13            

 Oct 5

 

Non attendance

Review of topics so far in preparation for test 2
 

 

 

14

 

            

 Oct 12

 

Revision for Test 2

 

 

15  Oct 19

Test 2

Review of topics 9-11

 


16            

 Oct 26

 

 

 Retests Class Attendance if required to resit
     


Learning Resources

Prescribed Texts

Management Accounting Principles and Applications.   Hart, Fergus and Wilson


References


Other Resources

 

 

 

 

 

Online learning materials can be accessed by going to the RMIT website where there is a link to online Learning hub.  The Material comprises Power point slides and related student notes for each topic.


NB: For online collaborate session please ensure you have JAVA installed on your computer https://java.com/en/download/index.jsp AND a HEADSETand MICROPHONE


Overview of Assessment

The student must demonstrate an understanding of all elements of a particular competency to be deemed competent. Assessment methods have been designed to measure achievement of each competency in a flexible manner over a range of assessment tasks.
Assessment will incorporate a variety of methods including technical requirements documentation, homework and in class exercises, written tests, practical problem solving exercises, a workbook and practical tests. Students are advised that they are likely to be asked to personally demonstrate their assessment work to their teacher to ensure that the relevant competency standards are being met.

The written tests will focus on the student’s practical ability to solve problems and provide meaningful solutions to a set of questions asked of them for the work completed up to the time of the test
 


Assessment Tasks

As this unit is clustered you are required to complete successfully the three (3) assessment tasks below and also the five (6) assessment tasks for the unit Design and Produce Business Documents detailed in that course guide. 

Test one:   (W/B Sept 7) Topics covering introductory terminology, inventory and also labour  This Test will be open book with students able to access their Textbook only. No other notes may be accessed

Test two:    (W/B Oct 19) Topics covering overhead, job costing for both manufacturing and service businesses and manufacturing statements.  This test will br closed book with no other reference material to be accessed 

        

Assignment:  (W/B April 27) Assignment preparing a Manufacturing  budget both manually and then done using  Excel.

The other assessment tasks are detailed in the co delivered competency Design and Produce Business Documents

Overview of Assessment:
To be deemed competent, students must demonstrate an understanding of all elements of the two competencies.
Assessment methods have been designed to measure achievement of each competency in a flexible manner
over multiple tasks. Students are advised that they are likely to be asked to personally demonstrate their assessment
work to their teacher to ensure that the relevant competency standards are being met.

Critical aspects of assessment
Evidence of the following is essential:

• demonstrate knowledge of organisational operating procedures
• demonstrate knowledge of relevant legislation
• demonstrate knowledge of standard accounting principles and practices
• gather and record operating and costs data
• produce cost reports
 

Assessment Tasks:
The following range of assessment methods will be used to assess practical skills and knowledge as part of
this program:
1. Evaluating an integrated activity which combines the elements of competency for the unit or related units
of competency;
2. oral or written questioning on underpinning knowledge and skills which may include formal examinations;
3. evaluating samples of work;
4. direct questioning combined with review of evidence;
5 review of final printed documents;
6 demonstration of techniques; and
7. oral or written questioning to assess knowledge of software applications.


Assessment Tasks
You are required to complete all assessment tasks in both units successfully  to be deemed
competent in this cluster. The  assessment tasks incorporating Design and Produce Business documents are as follows:
• Send a message (with attachments) to their teacher using email technology.
• Complete a Manufacturing budget manually and electronically using EXCEL
• Prepare a linked document showing the Job cost allocation summary linked to the Manufacturing Ledger accounts (EXCEL)
• Complete a set of Stock cards using EXCEL
• Complete an exercise using reorder points to calculate stock orders required using IF statements in EXCEL
• Design a Business document using WORD


Assessment Matrix

You should:
• Ensure that you submit assessments on or before the due date. If your performance in the assessment is affected by
unexpected circumstances, you should consider applying for Special Consideration. Information on the process and
application forms is available at http://rmit.edu.au/browse;ID=ls0ydfokry9rz website.
• Always retain a copy of your assessment tasks (hard copy and soft copy).
• When you submit work for assessment at RMIT University you need to use a cover sheet that includes a declaration
and statement of authorship. You must complete, sign and submit a cover sheet with all work you submit for
assessment, whether individual or group work. On the cover sheet you declare that the work you are presenting for
assessment is your own work. An assignment cover sheet for submission of work for assessment is available on
blackboard.
• Each page of your assessment should include footer with your name, student number, the title of the assessment,
unit code and title and page numbers.
Marking Guide (competency):
Vocational Education and Training (VET) is based on current industry needs and the focus on preparing you for the
workplace. Because VET courses are informed by practical application of knowledge and skills, they are based on a
system known as ‘competency based training’ (CBT). So when you are assessed in VET it is about whether you are
competent to do the job, as well as having a firm grasp on the knowledge and skills required to do that job, as opposed
to traditional curriculum based education settings that are often based on knowledge retention.
You need to demonstrate you are competent in each element of the unit of competency you are studying.
You will receive feedback on each assessment task that will inform you whether you are competent or not and how well
you are performing.

Once competent in all elements of the unit you receive a competency grading.
Please refer to the Final Grades table below.
Marking Guide (Grading)
After achieving competency we then grade your performance in the unit; this gives you the opportunity to have the
level of your performance formally recognized against industry standards and employability skills.

ONLY ONE OPPORTUNITY EXISTS TO DO A RETEST OR RESUBMISSION OF OTHER ASSESSMENTS.


The grading is according to the following criteria:


1. LEVEL OF INDEPENDENCE, INITIATIVE, ENTERPRISE AND PERFORMANCE OF WORK TASK
We are looking for a high level of ability to complete all tasks independently as per the specifications as well as
demonstrating a high level of initiative in your approach to establishing an maintaining a payroll system, performing

2. DEMONSTRATED BREADTH OF UNDERPINNING KNOWLEDGE AND A WILLINGNESS TO CONTINUE
LEARNING
We are looking for depth of understanding of the key concepts and knowledge required in establishing an maintaining
a payroll system, performing financial calculations and designing and producing business documents. You should be
able to demonstrate a thorough understanding of all applicable performance criteria in all the assessment tasks.

3. TECHNIQUES & PROCESSES, TECHNOLOGY SKILLS AND PROBLEM SOLVING
We are looking for appropriate use of technology to assist in presenting all tasks clearly and suitable for the intended
audience. You also need to show an understanding of the kinds of problems that can arise in establishing an
maintaining a payroll system, performing financial calculations and designing and producing business documents and
how these might be addressed.

4. WORK ORGANISATION, PLANNING AND SELF MANAGEMENT
We expect to see students organise and plan their work schedule effectively and be able to self manage them time
both in-class and when undertaking self-directed learning. We also expect the timely completion and submission of all
required assessment tasks.

5. COMMUNICATION, PEOPLE NETWORKING, LANGUAGE AND INTERPERSONAL SKILLS AND TEAMWORK
We expect to see contributions to relevant discussions during scheduled sessions. In addition your tasks should
demonstrate a very good understanding of the elements of establishing an maintaining a payroll system, performing
financial calculations and designing and producing business documents.


Final Grades table:


CHD Competent with High Distinction
CDI   Competent with Distinction
CC    Competent with Credit
CAG  Competency Achieved – Graded
NYC  Not Yet Competent
DNS  Did Not Submit for assessment
Further information regarding the application of the grading criteria will be provided by your teacher

Other Information

NB:  For online collaborate session please ensure you have JAVA installed on your computer https://java.com/en/download/index.jsp AND a HEADSETand MICROPHONE 

Late Submission Procedures
You are required to submit assessment items and/or ensure performance based assessment is completed by the due dates.
If you are prevented from submitting an assessment item on time, by circumstances outside your control, you may apply in advance to your teacher for an extension to the due date of up to seven calendar days.
More Information: http://www.rmit.edu.au/students/assessment/extension
Form to use: http://mams.rmit.edu.au/seca86tti4g4z.pdf
Where an extension of greater than seven days is needed, you must apply for special consideration. Applications for special consideration must be submitted no later than two working days after the assessment task deadline or scheduled examination.
More Information: http://www.rmit.edu.au/browse;ID=g43abm17hc9w
Form to use: http://mams.rmit.edu.au/8a5dgcaqvaes1.pdf

Resubmissions (VET Programs):
If you are found to be Not Yet Competent in a Course Assessment Task you will be allowed one resubmission only. Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission. The highest grade you will receive if your resubmission is successful is “CAG”.
If you are still not meeting the assessment requirements you must apply to your Program Manager in writing outlining the steps you will take to demonstrate competence in your course. Your submission will be considered by the Program Team and you will be advised of the outcome as soon as possible.

Adjustments to Assessment
In certain circumstances students may be eligible for an assessment adjustment. For more information about the circumstances under which the assessment arrangements might be granted please access the following website:
More Information: http://rmit.edu.au/browse;ID=7usdbki1fjf31

Course Overview: Access Course Overview