ACC 207 Final Project Guidelines and Rubric Overview The final project for this

Question

ACC 207 Final Project Guidelines and Rubric Overview The final project for this course is the creation of a quantitative analysis with a memo to management Classifying a company's costs allows for an in-depth analysis of the impact that changes in output have on revenues, costs, and net income or net loss. A cost- volume-profit (CVP) analysis will be completed in order to determine the breakeven point. Relevant costs will be used to prepare a flexible budget. Additionally, an appropriate costing system should be selected and the choice should be substantiated with reasonable rationale. Finally, a memo should be prepared for management that summarizes the results of the quantitative analysis and makes recommendations for an optimal costing system to be ethically used by key decision makers. The project is divided into three milestones, which will be submitted at various points throughout the course to scaffold learning and ensure quality final submissions. These milestones will be submitted in Modules Two, Four, and Five. The quantitative analysis with a memo to management will be submitted in Module Seven. In this assignment, you will demontrate your mastery of the following course outcomes: Utilize cost behavior and cost analysis to assist decision makers in planning and adding value to the business Prepare a flexible budget for supporting informed managerial decision making Interpret variances for determining the optimal costing system to fit an organization's internal accounting needs Interpret the role of ethics in cost accounting for determining its impact on decision making · Prompt In this assignment, multiple analyses will be conducted in order to obtain a company's financial information specific to company cots MDE manufactures outdoor garden items such as lawn ornaments and bird feeders. MDE uses a standard costing system to set standards for direct materials, labor, and overhead costs. MDE reviews and revises standards as necessary. Recently, budget variances for bird feeders have caused some concern. You, the company's cost accountant, have been asked to examine the numbers for the product, explain the variances, and suggest ways to improve performance. Specifically, the following critical elements must be addressed: You will begin by using the MDE Manufacturing Budget (Table I) to analyze costs, contribution margin, and breakeven point for the bird feeder division. You wil then analyze the actual costs and complete a cost-volume-profit (CVP) analysis to determine how many bird feeders must be sold at the current cost and sales price level to earn a $10,000 profit and how much the sales price would have to increase to earn a $10,000 profit at the same cost and sales volume level. Use Tabs 1 and 2 of the Student Workbook

Explanation / Answer

BUDGET 50000 UNITS

FLEXED   47000 UNITS

ACTUAL 47000 UNITS

VARIANCES

ADV

FAV

SALES

1050000

987000

991700

4700

VARIABLE

-565500

-528750

-621246

92496

FIXED MF

-95000

-95000

-94500

500

ADMIN/ SD

-298500

-285750

-285750

NET INCOME

91000

77500

-9796

87296

ANALYSIS OF VARIANCES

DM

CEDAR

PLASTIC

ACTUAL

248160

37741

ACTUAL X STD

100590F

241A

77500 X 4.5

348750

37500

STD X STD

137250A

2500F

47000 X3X 1.5

211500

47000 X 1 X .75

35000

36660A

2259 F

34401 A

DL

ACTUAL

332760

55460A

ALH X STD RATE

554600 X $5

277300

ACT UNITS X STD HP X STD RATE

4700F

47000 X 12 HRS X $5

282000

50760A

50760 A

VARIABLE

ACTAUAL

2585

517 F

A10340 X .3

3102

102A

10000 X .3

3000

415 F

415 F

NO VARIANCES IN ADMIN & S & D

SHIPPING

112500

NO VARIANCE

105750

SALES COMM

100000

NO VARIANCE

47000 X 2

94000

BUDGET 50000 UNITS

FLEXED   47000 UNITS

ACTUAL 47000 UNITS

VARIANCES

ADV

FAV

SALES

1050000

987000

991700

4700

VARIABLE

-565500

-528750

-621246

92496

FIXED MF

-95000

-95000

-94500

500

ADMIN/ SD

-298500

-285750

-285750

NET INCOME

91000

77500

-9796

87296

ANALYSIS OF VARIANCES

DM

CEDAR

PLASTIC

ACTUAL

248160

37741

ACTUAL X STD

100590F

241A

77500 X 4.5

348750

37500

STD X STD

137250A

2500F

47000 X3X 1.5

211500

47000 X 1 X .75

35000

36660A

2259 F

34401 A

DL

ACTUAL

332760

55460A

ALH X STD RATE

554600 X $5

277300

ACT UNITS X STD HP X STD RATE

4700F

47000 X 12 HRS X $5

282000

50760A

50760 A

VARIABLE

ACTAUAL

2585

517 F

A10340 X .3

3102

102A

10000 X .3

3000

415 F

415 F

NO VARIANCES IN ADMIN & S & D

SHIPPING

112500

NO VARIANCE

105750

SALES COMM

100000

NO VARIANCE

47000 X 2

94000

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