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Ethical considerations of costing methods

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Develop a company and determine what it will produce and sell. The requirement for this company is that it be a high-end, special-order type of manufactured product. Complete the following in a Word document of 1,000 words:

  • Develop a list of inputs along with their associated costs, such as labor, materials, and overhead. You can research this information, make it up, or do a combination of both. Be specific as to costs.
  • You are to determine the selling price. Show your calculations, and discuss why you have determined this to be a good sale price.
  • How many items of your product will you need to produce to meet this sale price? How did you calculate this?
  • Determine which of the costing systems discussed in this class will work best for your company. Explain why.
    • Explain why those not chosen were not a good fit for your company.
    • You must explain "why not chosen" for a minimum of 3 costing methods.
  • Please devote at least 1 paragraph to the ethical considerations of costing methods.

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The paper was about an USA based entity, Thornton Inc. which manufactures and sells customized machinery. These are manufactured on contractual basis. Contracts would range from short term one time contract of 3 to 4 months to recurring contracts. This paper talks about estimated selling price for a contract, its minimum selling price, normal selling price. Also it discusses about estimated output. This concludes with touch of decision making where in we discuss of project viability based on tools such as net present value and pay back period. Another important tool which is used when there is a conflict between net present value and pay back period i.e. Profitability index. The paper has been prepared in word format.

Reference no: EM13787399

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