Lessonplan for a Financial Accounting class for Senior Secondary 2 students on the topic "Manufacturing Account II":
**Lesson Plan: Financial Accounting – Manufacturing Account II**
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### Lesson Overview:
**Topic:** Manufacturing Account II
**Grade:** Senior Secondary 2
**Subject:** Financial Accounting
**Duration:** 90 minutes
**Objectives:**
- Understand the components of a manufacturing account.
- Be able to distinguish between prime cost, factory overhead, and total production cost.
- Prepare a complete manufacturing account.
### Materials Needed:
- Whiteboard and markers
- Projector and computer for slides
- Handouts of example manufacturing accounts
- Textbook on Financial Accounting
- Calculator
- Notebooks and pens
### Lesson Outline:
1. **Introduction (15 minutes)**
- **Greeting and Setup**: Welcome students and ensure they have all their materials.
- **Recap Previous Lesson**: Quick questions to recap Manufacturing Account I, focusing on direct materials, direct labor, and prime cost.
- **Lesson Objectives**: Share and explain the objectives for this lesson on the board/screen.
2. **Instruction (30 minutes)**
- **Components of Manufacturing Account**: Discuss the structure of a manufacturing account including:
- Direct Costs (Direct Materials and Direct Labor)
- Prime Cost
- Factory Overhead (Indirect Costs)
- Work in Progress (WIP)
- Finished Goods
- **Calculation Examples**: Use an example to break down the components:
- Prime Cost = Direct Materials Used + Direct Labor
- Total Factory Cost = Prime Cost + Factory Overhead
- Cost of Production = Total Factory Cost +/- Opening and Closing Work in Progress
- **Interactive Activity**: Students work in pairs to create a simplified manufacturing account from a provided dataset.
3. **Guided Practice (20 minutes)**
- **Worked Example**: Go through a detailed example of a manufacturing account on the board, emphasizing calculations and categorization of costs.
- **Class Discussion**: Engage students with questions about the process and common mistakes to watch out for.
4. **Independent Practice (15 minutes)**
- **Worksheet Activity**: Distribute worksheets with partial data on manufacturing costs. Have students complete the manufacturing account individually.
- **Walk Around**: Facilitate and assist students who need help.
5. **Assessment and Review (5 minutes)**
- **Review Answers**: Discuss the worksheet solutions collectively.
- **Quick Quiz**: A short quiz covering the day’s objectives to assess understanding (5 questions, multiple-choice/short answer).
6. **Conclusion (5 minutes)**
- **Summary**: Recap key points discussed in the lesson.
- **Homework Assignment**: Assign a homework task to prepare a manufacturing account from a new dataset.
- **Questions and Answers**: Address any final questions from students.
### Homework:
Prepare a complete manufacturing account using a new dataset provided in the handout. Ensure categorization of direct costs, prime cost, factory overheads, work in progress, and finished goods.
### Assessment:
- **In-class Activities**: Participation in interactive tasks and completion of worksheets.
- **Quick Quiz**: Immediate understanding assessed through a short quiz.
- **Homework Assignment**: Extended application of lesson objectives independently.
### Extensions:
- **Advanced Problems**: Provide more complex datasets for advanced students to challenge their understanding.
- **Research Task**: Assign a research task on real-world manufacturing accounts of different industries.
This structured lesson plan ensures that students gain a comprehensive understanding of preparing manufacturing accounts, builds on their previous knowledge, and provides ample practice and assessment opportunities.