If you open the milestone two guidelines it gives the directions. I am looking for assistance with this project. I am working on my end but need to compare and combine the results for maximized learning.

ACC 207 Final Project Milestone Two Guidelines and Rubric Overview: 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 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. For Milestone Two, you will analyze the budget and actual costs using the MDE Manufacturing Budget (Tables I, II, III, IV). Determine where variances occurred and why. Submit the Student Workbook with Tabs 3 and 4 completed with your budgets/variances and a 1-2 page Word document that discusses the implications of your findings on MDE's financial considerations. Explain which aspects of MDE's budgeting process are in need of improvement and justify your response using your calculations. Address all critical elements listed below in Section II. Use Tabs 5 and 6 of the Student Workbook for your budget and variance calculations. Specifically, the following critical elements must be addressed: II. Prepare and Perform a) What are your fixed costs? Segregate them in the budget model. b) Determine how variable costs change as activity measures change. How can this information be applied? c) Create the budget model, ensuring fixed costs are hard coded into the model (variable costs are stated as a percentage of the relevant activity measures or as a cost per unit of activity measure). d) Add actual activity measures to the model. Make sure all information is added accurately. e) Add the flexible budget calculations to the budget model. Make sure all information is accurate. f) Compare the flexible budget to the actual expenses. What does this inform? Be sure to discuss the following variances: i. Static budget variance, including sales volume and flexible budget variances ii. Price and efficiency variances for direct materials and direct labor iii. Spending and efficiency variances for variable manufacturing overhead g) Determine the aspects of the budgeting process that are in need of improvement. Justify your response. h) Interpret what budget variances represent. Should all variances be investigated? Guidelines for Submission: Your paper must be submitted using the Student Workbook to present your budgets and variances and a 1-2 page Microsoft Word document with double spacing, 12-point Times New Roman font, and one-inch margins to explain your findings. Instructor Feedback: This activity uses an integrated rubric in Blackboard. Students can view instructor feedback in the Grade Center. For more information, review these instructions. Rubric Critical Elements Proficient (100%) Prepare and Identifies fixed costs and segregates Perform: Fixed Costs them in the budget model Prepare and Perform: Variable Costs Prepare and Perform: Budget Model Prepare and Perform: Actual Activity Prepare and Perform: Flexible Budget Calculations Prepare and Perform: Compare Flexible Budget Determines how variable costs change as activity measures change and describes how this information can be applied Creates a budget model and fixed costs are hard coded into the model Needs Improvement (75%) Not Evident (0%) Identifies fixed costs but does not segregate Does not identify fixed costs them in the budget model Determines how variable costs change as activity measures change but does not describe how this information can be applied Creates a budget model but fixed costs are not hard coded into the model Value 12 Does not determine how variable costs change as activity measures change 12 Does not create a budget model 12 Accurately adds actual activity measures Adds actual activity measures to the model to the model but contains errors related to accuracy Does not add actual activity 12 Accurately adds the flexible budget calculations to the budget model Does not add flexible budget calculations to the budget model 12 Does not compare the flexible budget to the actual expenses 12 Does not determine the aspects of the budgeting process that are in need of improvement Does not interpret what budget variances represent 12 Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas Total 4 Adds flexible budget calculations to the budget model but contains errors related to accuracy Compares the flexible budget to the Compares the flexible budget to the actual actual expenses, including key variances expenses but omits key variances or does specified, and interprets what this not interpret what this informs informs Prepare and Determines the aspects of the budgeting Determines the aspects of the budgeting Perform: Budgeting process that are in need of improvement process that are in need of improvement Process and justifies response but does not justify response Prepare and Interprets what budget variances Interprets what budget variances represent Perform: Budget represent and determines if all variances but does not determine if all variances Variances should be investigated should be investigated Articulation of Submission has no major errors related Submission has major errors related to Response to citations, grammar, spelling, syntax, citations, grammar, spelling, syntax, or or organization organization that negatively impact readability and articulation of main ideas 12 100% \fMilestone One, Part I Product Costs Materials - Cedar Materials - Plastic Materials - Indirect Factory Worker Labor Factory Depreciation Factory Utilities Factory Maintenance and Repairs Period Costs Shipping Sales Commission Office Rent Advertising Liability Insurance Office Depreciation Office Salaries Milestone One, Part II Use Table I on the MDE Manufacturing Budget to complete your calculations. 50,000 Units Sales Price per Unit $ 21.00 Variable Costs Materials - Cedar Materials - Plastic Factory Worker Labor Materials - Indirect Shipping ($2.25/ea) Sales Commissions ($2/unit sold) Total Variable Expense Variable Cost per Unit 4.50 0.75 6.00 0.06 2.25 225,000 37,500 300,000 3,000 112,500 2.00 100,000 778,000 15.56 Contribution Margin 5.44 Fixed Costs Factory Depreciation Factory Utilities Factory Maintenance and Repairs Office Rent Advertising Liability Insurance Office Depreciation Office Salaries Total Fixed Costs Profit 272,000 78,000 12,000 5,000 12,000 20,000 5,000 1,000 48,000 181,000 91,000 c) Compute contribution margin per unit and contribution margin ratio Compute contribution margin per unit contribution margin ratio= Contribution/Sales 5.44 25.90% Determine the breakeven quantity and the breakeven revenue accurately breakeven quantity =Fixed Cost/Contrbution Per Unit Breakeven revenue=Fixed Cost/Contrbution Margin Totals Budget $ 1,050,000 33272 698,713 Using Budgeted Amounts Breakeven quantity = fixed cost / contribution margin Using Actual Amounts + 10,000 profit Using actual amounts + 10,000 profit Determine if the company is breaking even. What are cost-volume-profit analysis implications on short-term planning? At Break even Profit Will be Zero ie NoProfit No Loss cost-volume-profit analysis At Break Even Amount Sales Variable Expense Contribution Fixed Costs Factory Depreciation Factory Utilities Factory Maintenance and Repairs Office Rent Advertising Liability Insurance office Depreciaon office Salaries Total Fixed Cost Profit Per Unit 698713 517,713.2 181000 21 3.62 78000 12000 5000 12000 20000 5000 1000 48000 181000 0 How many bird feeders must be sold at the current cost and sales price level to earn a $10,000 profit. 33272 bird feeders breaks even at current price and take 10,000 / 5.44 = 1838 add 33272 get 35110 total bird feede How much the sales price would have to increase to earn a $10,000 profit at the same cost and sales volume level. Amount Sales Variable Expense Contribution Fixed Costs Factory Depreciation Factory Utilities Factory Maintenance and Repairs Office Rent Advertising Liability Insurance office Depreciaon office Salaries Total Fixed Cost Profit Per Unit 709026.32 21.31 517,713.2 191,313.12 3.8262624 78000 12000 5000 12000 20000 5000 1000 48000 181000 10,313.12 Totals Actual 991,700 $ 19.83 248,160 When you d 37,741 332,760 2,585 105,750 4.96 0.75 6.66 0.05 2.12 94,000 1.88 820,996 16.42 170,704 3.41 ### ### 4,500 ### ### ### ### ### 180,500 (9,796) Breakeven Point - Units at Current Sales Price New Contribution Margin Current Variable Costs New Sales Price hort-term planning? 2 get 35110 total bird feeders must be sold es volume level. Milestone Two, Part I Use Tables I through IV on the MDE Manufacturing Budget to complete your calculations. Refer to Exhibit 7-2 on page 253 of the text Budget Model Units Sold Revenues Variable Costs DM-Plastic DM-Cedar Direct Manuf. Labor Variable Manuf. Overhead Total Variable Costs Fixed Manuf. Overhead Total Costs Gross Margin Actual 47,000 $991,700 Flexible Budget Variance $4,700 Favorable/ Unfavorable Favorable From Flexible Budget Calculations Sheet Flexible Budget 47,000 $987,000 Sales Volume Variance ($63,000) Favorable/ Unfavorable Unfavorable Static Budget 50,000 $1,050,000 Milestone Two, Part II Use the variance supporting calculation tab to complete your calculations. Price Variance Direct Materials - Cedar Direct Materials - Plastic Direct Labor Spending Variance Variable Manufacturing Overhead Efficiency Variance Efficiency Variance Revenues Variable Costs DM-Plastic DM-Cedar Direct Manuf. Labor Variable Manuf. Overhead Total Variable Manufacturing Costs Fixed Manufacturing Overhead Total Manufacturing Costs Gross Margin Budgeted Unit Amounts $ 21.00 $0.75 $4.50 Actual Volume 47,000 47,000 Flexible Budget Amount $987,000 211,500 Use Tables III and IV on the MDE Manufacturing Budget to complete your calculations. Development of Price and Efficiency Variances - Calculatio Actual Feet per Unit DM-Plastic DM-Cedar Actual Labor Cost per Hour Direct Manuf. Labor Actual Costs Incurred (Actual Input Qty. Actual Price) Actual Feet per Unit Actual Units Actual Input Qty. Budgeted Pric Actual Price per Ounce Actual Units Direct Material Plastic $ $ Price Variance $ Price Variance Direct Material Cedar $ Actual Units - Actual Hours per Unit Actual Cost per Hour Actual Units Direct Manufacturing Labor $ $ Price Variance Actual Input Qty. Budgeted Pric Actual Costs Actual Costs Actual Units Variable manufacturing overhead $ $ Spending Variance e and Efficiency Variances - Calculations Actual Feet Used Actual Units Actual Labor Costs Actual Labor Hours Actual Cost Actual Units $ $ Actual Hours per Unit Budgeted Feet per Unit $ - $ - Efficiency Variance Budgeted Cost per Hour Actual Units - Budgeted Hours Budgeted Cost per per Unit Hour $ $ Budgeted Cost per Ounce Efficiency Variance $ $ Actual Units $ Actual Labor Hours per Unit Flexible Budget (Budgeted Input Qty. Allowed for Actual Output Budgeted Price) Actual Input Qty. Budgeted Price Actual Feet per Budgeted Cost Unit per Ounce Actual Cost per Unit Efficiency Variance - Flexible Budget (Budgeted Input Qty. Allowed for Actual Output Budgeted Price) Actual Input Qty. Budgeted Price Actual Feet per Budgeted Cost Unit per Foot $ Actual Units - Budgeted Feet per Unit $ $ Efficiency Variance - Budgeted Cost per Foot I believe that all of the yellow highlighted cells should read "per Unit" and not "per Ounce"