Answer all the questions please, Thank you

template for #10.

Create an imaginary company with a product that can be manufactured and sold Keep it a simple product. Don't pick something with many parts. You will be describing the making and selling of the product. Think through the following: Where will you make it - what costs are involved - materials, labor, rent, etc. Who will make it. How long will it take. What equipment will you need? Who do you sell to? How will you get it to your customers? Will you need to rent a place to sell? Who will get paid to sell? Sales commissions? Delivery costs, travel costs? Can you make money? 1 List all the manufacturing costs? DM, DL Overhead 2 What are the fixed costs? 3 Variable costs? 4 List the non-manufacturing costs - period costs? For example - selling costs, rent, salaries (incl your own) 5 Determine if you should use job costing or process costing 7 Determine a price to sell - try it out using cost price volume 8 Determine breakeven sales numbers 9 Create a contribution margin income statement CVP 10 Create a 4 quarter budget with all the schedules Sales budget, production, materials, labor ESPECIALLY Income Statement 11 Create a summary of what the product is, how you make it, how you sell it, what you charge for it, what the competition is, and if your budget shows you are going to make money. Make up all numbers for costs and prices but try to keep them reasonable Jan Feb Mar Apr May Jun Jul Aug Sep Oct Sales Budget Units Price Revenue Production Budget Unit Sales Expect End Inventory Total Required Beginning Inventory Production Required (Units) Material Budget Units to be Produced Material Required/Unit Toal Material Required Desired Ending Matl Total Required Beginning Material Material to be purchased Cost per Pound Total Direct Matl Cost Labor Budget Units to be produced Hours per unit Total Hours Cost per Hour Total labor Cost