This is a scenario base problem. In this scenario base problem imagine the values if required and answer all parts of this question. And for solving this problem please follow Garrison book method .And my humble request please answer this question all parts. It is very important for me. please answer this. please solve this problem.
Question No: 1 a) Each of your group is required to submit the idea of the business you want to start. b) The idea must be clearly elaborated in terms of product/services you are going to offer, location where you want to start the business, target market, each and every input required to produce product/services, availability of the inputs (Raw-material), from where you will buy the inputs (suppliers details), labor force required to produce goods/services, energy/power sources and machines required to manufacture and deliver the product/services to final consumer. c) Draw the complete business model to elaborate the flow how raw-material (inputs) is converted into final finished goods/services. d) Define the startup cost and on-going cost. e) Ascertain your business's start up and on-going costs and also show the market values of the cost. The market value must be realistic. f) Define fixed and variable cost. Separate the costs you identified in part e as fixed or variable cost. g) Discuss the Pricing strategy you are going to adopt. The sale price of your product/services. h) Define the marginal and absorption costing. And find out the per unit cost of your product/service under marginal and absorption costing (using the data from d, e, f) i) Conduct the break-even analysis in units and in no. of dollars also Conduct the target profit analysis if you want to earn a profit of 200,000 during the first year of your business. j) Forecast the no. of units of product/services that can be successfully sold (for the first year of your business). k) Differentiate manufacturing and non-manufacturing costs of the business and also provide details and costs of each item (each manufacturing and non-manufacturing cost item). Estimate the Sales and Cost of Goods sold for the year one. I) Prepare the following budgets keeping in mind the units you are going to sell in year one (see Part j) Sales Budget Material Budget Labor Budget FOH Budget Marketing Expenses Budget Administrative Expenses Budget m) Prepare the Pro forma Income statement and the balance sheet of the business for the year one (using the data from part one). n) Compile all the data from all and present in form of report
