How to

| October 22, 2018

Choose an item that you would like to
manufacture. You do not actually need to manufacture something, but will
proceed through the assignment as if you were planning on manufacturing the
item you have selected. The product should require materials and labor
and be something that you are familiar with in process from start to
finish. The product must be useful and marketable. You can choose
something as simple as making chocolate chip cookies, a type of craft, or
something more complicated. Consider production as if you were making the
product from beginning to end, and not as if using a kit.

Perform the following steps:
1.
Choose a product to manufacture and to
describe the manufacturing process.
2.
Prepare the following budgets for 1
quarter broken down monthly regarding your chosen item: estimated sales
budget, estimated direct materials budget, estimated direct labors budget,
estimated manufacturing overhead budget, estimated selling and administrative
expenses and an estimated income statement.
3.
Classify all manufacturing costs and
selling and administrative expenses as either variable or fixed.
4.
Prepare a contribution margin income
statement separating all variable and fixed costs into their own categories.
5.
Determine the breakeven point in units
and dollars. Also, determine the number of units and dollars that need to
be sold to make a target profit of $5,000 a month.
6.
Identify what types of trends you should
be aware of in the industry and who the primary competitors are.
7.
Answer the following question: If you had
to improve the bottom line, what would you do and what concerns would you have
going forward.
8.
Choose a piece of equipment that you
might consider purchasing to increase production of your item and address the
following questions: What types of capital budgeting factors would you look at
when deciding whether to do this? What would be the relevant costs that
you would consider in this decision?
Your final project should be in the form
of a paper using Microsoft Word that addresses each of these different
areas. Steps #1, 6, 7 and 8 will be in paragraph form and Steps #2, 3, 4
and 5 will involve numerical calculations that should be put into the form of a
table in proper format and included as part of the paper. You should show
any calculations in either a table within Word or you can copy and paste your
calculations directly from Microsoft Excel into Microsoft Word. Your
paper should be 3-6 double-spaced pages (body of the paper) and should follow
CSU-Global APA formatting. You should also cite any references that you
use.

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