Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

What is its unit price? Please help ASAP. 1. Visit Porto's for your favorite baked goods (or any of your favorite bakery, or just pretend

What is its unit price? Please help ASAP.
image text in transcribed
image text in transcribed
image text in transcribed
1. Visit Porto's for your favorite baked goods (or any of your favorite bakery, or just pretend via e-visit to the Youtube clips. LOL). What is its unit price? Let's think of a batch of 100 baked goods... What is its total price? Speculate how much is the cost to bake (AND sell) that 1 batch (100 units)? Calculate its related gross margin. Just make an educated guess on the cost, don't overthink. Name 5 cost components -- name both the obvious (example, flour) and the nuance (example, food coloring)? Classify those 5 cost items in various ways as discussed in the book. Copy a table below and use as a template for your analysis. The below VDO clip shows you various ways to classify cost. We will just focus on some of these. L Introduction to Cost and Management Accounting Cost cla.. O Copy link COST THAT REMAINS CONSTANT REGARDLESS THE LEVEL OF OUTPUT EO. RENTAL ADVERTISING AND DEPRECIATION FIXED IDENTIF TRAC COM VARIABLE BEHAVIOUR FUN template Cost incurred (Challenge yourself to come up with example of each cost function) template Product cost Product cost behavior (with Cost function & its traceability volume) classification . If product . If product . Is it product or period? cost: is it cost: o If product, then is traceable? Fixed or it DM. DL, or - director variable MOH? indirect . If period If period, then is it . If period cost: you Selling or G&A? cost: write N/A N/A may write 1 DM 2 DL 3 MOH 4 Selling G&A 2. Now, a big picture. Observe the bakery and let's pry the challenges that Porto's must overcome to be successful. (Don't just say selling delicious food at good price). Say like a manager taking a managerial accountant with insightful information..(say. How to keep the cost of production down by controlling the amount of waste (stale baked goods). Is it just about the bottom line? Look through the book on various topics to get keywords and ideas) Name the challenge that is vital to the success of the bakery business. If you part of Porto's management, how will you address that potential risk in planning, controlling, and decision-making phase of running a business operations? 3. Watch & relate concepts on the enclosed video clip and pick one managerial accounting trend that was mentioned in the video Discuss that trend as defined in the text. You may have to peruse through the future chapter. How does that trend being implemented at Pizza Hut? Speculate whether that trend is being used at Porto's. What evidence at Porto's have you observed that support your observation? Do you think Porto is successful at that initiative? Closing thoughts: So what will we learn in this class? We are going to look at the cost (beginning in this module), the price, the planning of business operations, and decision-making consideration (say, should we open a new location?), and even the non-financial factors (that will indirectly impact the bottom line)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial accounting

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel

IFRS Edition

9781119153726, 978-1118285909

More Books

Students also viewed these Accounting questions