Reference no: EM132706032
Cost Accounting Think of a manufacturing business with at least 4 different product lines.
Question 1: Show an organizational chart for your company.
Question 2: Establish production standards for your manufacturing operation, cost, overhead, design, recipe, etc.
Question 3: Determine your estimated overhead rate for the next year of operations.
Question 4: Classify your costs in Variable and Fixed
Question 5: Design control forms such as requisition, Purchase order, receiving slip, checks, cash receipts, and costing price and overhead variance.
- You will need an operational budget for your company.
- You will need a Cost Sheet detailing Direct materials, Direct Labor and Overhead.
Question 6: Calculate an overhead rate.
Question 7: Using some kind of activity base, such as Labor hours, Machine hours, etc. and depending on your creation you might choose Activity base, ort Job order costing, is up to you to decide what you think is a better option for your company, maybe you need to run both and see if there is a significant difference.
Question 8: After you know your yearly sales, Budget your Income Statement 5 years out and use it to calculate your IRR assuming that the expected rate of return is 12% buying $250,000 on equipment for your company. Determine Net Present value and see if your project is viable.
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