ACC 202 Week 2 Discussion | Southern New Hampshire University
- southern-new-hampshire-university / ACC 202
- 15 Jun 2021
- Price: $8
- Accounting & Economics Assignment Help / Managerial Economics
ACC 202 Week 2 Discussion | Southern New Hampshire University
Milestone One Guidelines
Web
Page
Overview
Successful
entrepreneurs understand all aspects of business, especially costs and costing
systems. In the course project, you will assume the role of the owner of a
small business and apply managerial accounting principles to evaluate and
manage costs related to your services within a costing system. In the first
milestone of the project, you will determine and classify the costs necessary
for opening your business.
Scenario
You plan to open a
business manufacturing collars, leashes, and harnesses for pets. To begin, you
will manufacture these in a standard style and size with plans to expand your
range over the year. In a few weeks, you will present your company’s financial
strategy to some key investors. To begin creating your strategy, you need to
consider and record all the costs associated with operating your business. You
have decided to use the job order costing system.
Prompt
Use the given
operational costs in the Milestone One Operational Costs Data
Appendix document to complete the first two tabs, “Cost Classification” and
“Variable and Fixed Costs,” in the Project Workbook.
Specifically, you
must address the following rubric criteria:
- Cost
Classification. Accurately
classify all your costs in the “Cost Classification” tab of your workbook.
- Identify direct material,
direct labor, overhead, and period costs. (Note: Fixed and variable costs
have been classified for you.)
- Variable
and Fixed Costs. Complete
the “Variable and Fixed Costs” tab of your workbook. (Note: Some costs are
provided for you. Fill in only the missing costs.)
- Determine your total
variable cost per unit and the total fixed costs for each product. Show
your work using calculations to the side of the table or using
appropriate formulas in the table.
Guidelines for Submission
Submit the Project
Workbook with the “Cost Classification” and “Fixed and Variable Costs” tabs
completed. This file should be completed and submitted using Microsoft Excel.
USA 
India