Imagine that your team is going to open its own manufacturing business, making List and describe...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Imagine that your team is going to open its own manufacturing business, making List and describe the costs that would be involved. There is no need to provide quantities, costs, or other amounts. Just list the costs and describe them if and as necessary to clarify your plan: • Be sure to classify the costs correctly using information covered in this course. • Provide enough information about the cost to justify why your classification is correct. • List enough examples in each category to demonstrate the completeness of the production, selling, and administrative functions of your business. Note that this is a team project and no individual projects will be accepted. TYPE OF COST FIXED? VARIABLE? DESCRIPTION OF COST This is optional. List any information necessary to clarify your cost. PRODUCT COSTS: Direct materials Direct labor Manufacturing Overhead PERIOD COSTS: Selling Administrative What sunk costs are relevant to your company? Why are these sunk? If none are relevant, why aren't any sunk costs applicable to your business? What opportunity costs would you consider when deciding to open your business? Imagine that your team is going to open its own manufacturing business, making List and describe the costs that would be involved. There is no need to provide quantities, costs, or other amounts. Just list the costs and describe them if and as necessary to clarify your plan: • Be sure to classify the costs correctly using information covered in this course. • Provide enough information about the cost to justify why your classification is correct. • List enough examples in each category to demonstrate the completeness of the production, selling, and administrative functions of your business. Note that this is a team project and no individual projects will be accepted. TYPE OF COST FIXED? VARIABLE? DESCRIPTION OF COST This is optional. List any information necessary to clarify your cost. PRODUCT COSTS: Direct materials Direct labor Manufacturing Overhead PERIOD COSTS: Selling Administrative What sunk costs are relevant to your company? Why are these sunk? If none are relevant, why aren't any sunk costs applicable to your business? What opportunity costs would you consider when deciding to open your business?
Expert Answer:
Answer rating: 100% (QA)
Type of cost Description of Cosr Fixed Variable Product Cost Direct Materials Direct Material or Raw ... View the full answer
Related Book For
Business Intelligence and Analytics Systems for Decision Support
ISBN: 978-0133050905
10th Edition
Authors: Ramesh Sharda, Dursun Delen, Efraim Turban
Posted Date:
Students also viewed these accounting questions
-
List and describe the major employment laws affecting human resource practice.
-
The Sharks major league baseball team is going to enter the free agent market over the winter to sign a new starting pitcher. They have five prospects that will enter the free agent market that they...
-
List and describe the three fact-finding themes.
-
In Exercises show that is strictly monotonic on the given interval and therefore has an inverse function on that interval. f(x) = cos x, [0, ]
-
Use Newton's method with x(0) = 0 to compute x(2) for each of the following nonlinear systems. a. b. sin(4Ï x1 x2) 2x2 x1 = 0, c. x1(1 x1) + 4x2 = 12, (x1 2)2 + (2x2 3)2 = 25. d. 5x21 x22 = 0,...
-
What is public-choice analysis? What are economists and others involved in public-choice analysis attempting to do?
-
With reference to the preceding exercise, construct a 95% confidence interval for \(\alpha\).
-
Venetian Company has two production departments, Fabricating and Assembling. At a department managers meeting, the controller uses flexible budget graphs to explain total budgeted costs. Separate...
-
An investment of $21700 is accumulated at 5.24% compounded quarterly for three and one-half years. At that time the interest rate is changed to 6.12% compounded monthly. How much is the investment...
-
Summers and Dooley are partners in a small business, "Summers & Dooley Co." The two partners disagree about whether or not to expand the business; Dooley wants to expand and is willing to take the...
-
The ground state electronic configuration of Zirconium (Z = 40) is 1s 2s 2p 3s 3p 3d 10 4s 4p6 4d 5s. The ground state term of Zirconium is 3F4 3F2 3D1 3D3
-
Monica is an audit manager and has requested her audit team to gather information regarding the firm's new client, Central Perk Ltd. The information is to be gathered from a number of sources which...
-
1. How does international cooperation affect shared water resources? 2. What is sustainable water use? 3. What are the benefits of dams on the Columbia River? the drawbacks? 4. How can individuals...
-
ABC Co . invests $ 1 0 million in a mine estimated to have 5 million tons of coal and no salvage value. If ABC extracts 2 0 0 0 0 tons in the first year, then ABC records the following entry, a...
-
Rebel Gear Corporation (Rebel) is a clothing manufacturer and distributor. The company specializes in college-branded clothing and jewelry. On August 1, 2022, Rebel entered into an agreement with...
-
Instead of doing the major upgrade to the equipment, management is considering introducing a new advertising campaign that will increase fixed expenses by $80,000 per month. Management believes the...
-
Given the following linear program that maximizes revenue: Max Z = 15x + 20y s.t. 8x+5y 40 4x + y 4 What is the maximum revenue at the optimal solution?
-
Danielle has an insurance policy with a premium of $75 per month. In September she is in an accident and receives a bill worth $2990 for the repair of her own property. Her deductible is $250 and her...
-
Describe the four steps managers take in making a decision.
-
Why do we need to incorporate uncertainty in ES solutions?
-
What does Security First do?
-
A fertilizer producing company purchases nitrates, phosphates, potash, and an inert chalk base and produces four different fertilizers A, B,C, and D. The cost of these nitrates, phosphates, potash,...
-
Heavy fuel oil, initially semisolid at $15^{\circ} \mathrm{C}$ is to be heated and pumped through a $15 \mathrm{~cm}$ diameter (inside) pipe at the rate of $20000 \mathrm{~kg} / \mathrm{h}$. The pipe...
-
The topological optimization is discussed in chapter 1. Here, we will consider a topological optimization problem for a chemical process plant. The layout of the chemical process plant has been shown...
Study smarter with the SolutionInn App