Answered step by step
Verified Expert Solution
Question
00
1 Approved Answer
Please I need help with questions 1- 7 . Please number and do it in excel format thed project, you will analyce costs in a
Please I need help with questions 1- 7 . Please number and do it in excel format thed project, you will analyce costs in a real company. This project is related to Chapter 21.Choose company with which you are familar that manufactures or sells a product, or provides a service. ln this capacity, you will know the major costs and typically publish internal cost or process information You do not need to report the numbers activities associated with this company companies do not A group report and a group presentation wil be delilvered. Write a paper that addresses each of the isted questions for a company of your choice. Turn in a 2-3 page typed paper (12 point font, double- spaced with 1" mangins). The due date will be announced in class. No late submission or presentation is accepted Basic Discussion Questions: 1. Describe the company you selected and the products or services it provides 2. List ten costs that this company would incur Include costs from a variety of departments within the company, including human resources, sales, accounting, production lif a manufacturer),. service(if a service company), and others. Make sure that you have at least one cost from each of the following categories: fixed, variable, and mixed. 3. Classity each of the costs you listed as a product cost (direct material, direct labor, or overhead) or a period cost. 4 Classity each of the costs you listed as either fixed, variable, or mixed. Justify why you classified each cost as you did. Note: Fixed costs are costs that are unchanged as yolume changes within the relevant range of activity. Variable costs are costs that change in direct proportion with a change in yolume within the relevant range of activity. Surveys of practice repeatedly show that identifying a cost as variable or fixed provides valuable information for making many management decisions and Is an important input when evaluating performance 5. Describe a potential cost driver for each of the variable and mixed costs you listed. Explain why each cost driver would be appropriate for its associated cost 6. Discuss how easy or difficult it was for you to describe whether each cost was fixed, variable, or mixed. Describe techniques a company could use to determine whether a cost is fixed, variable, mixed 7. Add one additional question or issue about cost behavior you like to discuss with the class. Why is the issue interesting for this company or this industry? Grading and submission: The total grade is 50 points. The grade is first determined by: (2) The quality of the written report (25 points) (2) the quality of your presentation (25 points) (Every group member needs to participate in the presentation and this score will be based on individual performance). The quality of
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started