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Tutorial 3 Answers addon - a not b” LS et al has put down...

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1 ACCT2522 Management Accounting 1 Session 1, 2009 Tutorial Week 3 – Cost basics Additional Note to Self-Study Question 2. Langfield-Smith, Chapter 2, Self-Study Problem 1 Extracted from Tutorial Week 3 questions “Solution is on p.62 Please note that the following amendments: 4. a, h (see LS p. 52). 7. b not a (the word-processing equipment is used for administration purposes and should not be inventorised)” Additional note: Please note that there is a typo, and for question 7, it was meant to read “7.
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Unformatted text preview: a not b”. LS et al has put down the answer as b – product cost, it is not an amendment of LS et al. if the answer is exactly the same as indicated in LS et al. The elaboration in brackets above indicates that the word-processing equipment should not be inventorised (which means treated as a product cost and allocated to the product), as it is used for administrative purposes. Hence, it should be treated as a period cost – answer a....
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