Question
Folio 1: Assume your enterprise is operational for the last three years. Create a business profile/company profile taking into consideration your allotted business, location, Capital
Folio 1: Assume your enterprise is operational for the last three years. Create a business profile/company profile taking into consideration your allotted business, location, Capital investment, current technology, Operations, labor, supplies and procurement, current markets, opportunities and complete with a financial analysis (Income statement for last 3 years and projections for next 3 years). The company must be your own. It shall not be an existing company. Include only the relevant information. (5 Marks)
Folio 2: Prepare a plan/flow-chart to fulfil the Walmart order. Be specific about the timeline- start of production Schedule -November 1, End of Production Schedule November 20, shipment dates etc.-. You may consider the Walmart order as a job order work. Explain the processes, Direct and Indirect materials required at each step, (quantities, source, price), Direct labor and indirect labor required, cost of labor and other manufacturing overheads. Calculate the pre-determined overhead rate. Explain the rationale for Predetermined OH rate. Use group think and research. (6 Marks)
Folio 3: Show material requisition slips, labor time tickets a comprehensive job cost sheet. Show total cost and unit cost. (6 Marks)
Folio 4: Assign the above costs to create a finished goods inventory record for the Walmart job. Assume zero beginning and ending inventory. Assuming 250,000 pieces are delivered on November 25, 2022, calculate the cost of goods sold and Unit cost of goods sold. (3 Marks)
Folio 5: Estimate related period costs. Decide a markup price for the consignment. Prepare an income statement pertaining to the Walmart order and state the operating profit and contribution margin.
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