posting: WANTED: ACCOUNTING SUMMER STUDENT Want to work at a cool place and be an accountant at the same time? We have JUST the place for you! We are a group of students starting our own business. We don't have much money, but there should be enough to pay you enough to party and cat for four months. One day, we all could be rich. As we are a start-up, we can't give you too much of the scoop. Email us your resume and we might email you back for an interview April 20, 20x3 After meeting with Ajay and Mona, the two co-founders, you accept the position willingly. You are excited to help them get their new business of the ground and can't wait to see the opportunities it will bring. May 1, 20x3 On your first day of work, Ajay asks you to review their business proposal, which should give you an understanding of the business. From your reading, you understand the following: Funding The company has just been awarded a grant from the government to use as start-up funds. Both Ajay and Mona have received money from family who love the idea and wanted to make an investment. The total amount of start-up funds is $50,000. Ajay and Mona hope to earn a 15% return on their investment. The Idea The company is an online graphic design business. If a person needs a design, they post their detailed request online and the price they are willing to pay for the design. The company has three graphic designers. If there is a designer willing to accept the job, the job will proceed as long as the price suggested by the customer is reasonable. The customer will receive a soft copy of the design, as well as a professional printed design. Each design will be printed on high-quality paper. The number of pages used will depend on the size of the design. Your job As the business gets off the ground, there will be many jobs for you, including budgeting, forecasting, purchasing, invoicing and financial reporting. However, the immediate need is to understand the best way to determine whether or not they should accept a design request After a discussion with the founders, you understand that in order to get the company going, they would accept virtually any job that doesn't result in a loss. They have provided you with a list of expenses and asked you to develop a process that should be considered whenever a job design is posted to help determine whether they should accept the iob Aiay and Mona expect that whether they should accept the job. Ajay and Mona expect that they will have 5,000 designs posted to the website in the first year and intend to produce 3,000. On average, each design will be printed on two pages of paper. Required Provide Mona and Ajay with the details on your proposed process for them to consider whether to accept a design job. EXPECTED COSTS COST ITEM ANNUAL EXPECTED TOTALS Printer ink $3,000 Specialty paper (for 2,500 sheets) $5,000 Graphic designer wages @$20/hr $120,000 Co-founders' wages $20,000 Accountant wages $5,000 Website $9,000 Shipping $1,000 Total $163,000 Remember: to prepare a report which should "speak to the concerns of the founders. posting: WANTED: ACCOUNTING SUMMER STUDENT Want to work at a cool place and be an accountant at the same time? We have JUST the place for you! We are a group of students starting our own business. We don't have much money, but there should be enough to pay you enough to party and cat for four months. One day, we all could be rich. As we are a start-up, we can't give you too much of the scoop. Email us your resume and we might email you back for an interview April 20, 20x3 After meeting with Ajay and Mona, the two co-founders, you accept the position willingly. You are excited to help them get their new business of the ground and can't wait to see the opportunities it will bring. May 1, 20x3 On your first day of work, Ajay asks you to review their business proposal, which should give you an understanding of the business. From your reading, you understand the following: Funding The company has just been awarded a grant from the government to use as start-up funds. Both Ajay and Mona have received money from family who love the idea and wanted to make an investment. The total amount of start-up funds is $50,000. Ajay and Mona hope to earn a 15% return on their investment. The Idea The company is an online graphic design business. If a person needs a design, they post their detailed request online and the price they are willing to pay for the design. The company has three graphic designers. If there is a designer willing to accept the job, the job will proceed as long as the price suggested by the customer is reasonable. The customer will receive a soft copy of the design, as well as a professional printed design. Each design will be printed on high-quality paper. The number of pages used will depend on the size of the design. Your job As the business gets off the ground, there will be many jobs for you, including budgeting, forecasting, purchasing, invoicing and financial reporting. However, the immediate need is to understand the best way to determine whether or not they should accept a design request After a discussion with the founders, you understand that in order to get the company going, they would accept virtually any job that doesn't result in a loss. They have provided you with a list of expenses and asked you to develop a process that should be considered whenever a job design is posted to help determine whether they should accept the iob Aiay and Mona expect that whether they should accept the job. Ajay and Mona expect that they will have 5,000 designs posted to the website in the first year and intend to produce 3,000. On average, each design will be printed on two pages of paper. Required Provide Mona and Ajay with the details on your proposed process for them to consider whether to accept a design job. EXPECTED COSTS COST ITEM ANNUAL EXPECTED TOTALS Printer ink $3,000 Specialty paper (for 2,500 sheets) $5,000 Graphic designer wages @$20/hr $120,000 Co-founders' wages $20,000 Accountant wages $5,000 Website $9,000 Shipping $1,000 Total $163,000 Remember: to prepare a report which should "speak to the concerns of the founders