this is a report of managerial accounting

Project topic: Determining The Cost of a Product and Variance Analysis Group members: 3-5 Submission date: 19 April 2022 (At the beginning of class) Requirements: Select a product from a small local store in your area who manufactures their own goods and sell it to customers all through the year. Your field job is to conduct an interview and find out their manufacturing process for that particular product. Based on your interview data, you will have to determine the cost of the product (only for one product) and answer the following: 1. Find out their product details. 2. Write down the production process. 3. Determine the cost of the product (DM, DL and MOH). You need to calculate the cost/product. 4. What sort of variance (e.g., Raw materials/Labor/Manufacturing Overhead) you may observe? 5. What is the price of the product? Find out the profit margin of the product. 6. Based on your data calculate the contribution margin, breakeven point, breakeven revenue of the product. To do list: Your project should have cover page, title page, table of contents, letter of submission, executive summary (not more than 2 pages), reference, appendix (optional). No limitation of page. Project should be spiral binding. Attach a business card with whom you have contacted for your project