ACC 202 Milestone Three Guidelines and Rubric
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ACC202ProjectWorkbook.xlsxCost Classification
| Milestone One: Cost Classification | ||||||
| Instructions: | ||||||
| Putting an X in the appropriate spot, classify the costs as: Direct Material, Direct Labor, Overhead, or Period Costs. | ||||||
| The Fixed and Variable cost classifications have been provided for you. | ||||||
| Item/Cost | Direct Material | Direct Labor | Overhead | Period Costs | Fixed | Variable |
| Salary—Collar maker | x | |||||
| Salary—Leash maker | x | |||||
| Salary—Harness maker | x | |||||
| Salary—Receptionist | ||||||
| High-tensile strength nylon webbing | x | |||||
| Polyester and nylon ribbons | x | |||||
| Buckles made of cast hardware | x | |||||
| Depreciation on sewing machines | x | |||||
| Rent | x | |||||
| Utilities and insurance | x | |||||
| Scissors, thread, and cording | x | |||||
| Price tags | x | |||||
| Office supplies | ||||||
| Other business equipment | ||||||
| Loan payment | x | |||||
| Salary to self | x | |||||
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/xl/drawings/drawing1.xml#HomeVariable and Fixed Costs
| Milestone One: Variable and Fixed Costs | ||||||||||||
| Collars | ||||||||||||
| Item | Variable Cost/Item | Item | Fixed Costs | |||||||||
| High-tensile strength nylon webbing | $ 4.00 | Collar maker's salary (monthly) | $ 2,773.33 | |||||||||
| Polyester and nylon ribbons | Depreciation on sewing machines | |||||||||||
| Buckles made of cast hardware | Rent | |||||||||||
| Price tags | Utilities and insurance | |||||||||||
| Scissors, thread, and cording | ||||||||||||
| Loan payment | $ 183.33 | |||||||||||
| Salary to self | $ 166.67 | |||||||||||
| Total Variable Costs per Collar | Total Fixed Costs | |||||||||||
| Leashes | ||||||||||||
| Item | Variable Cost/Item | Item | Fixed Costs | |||||||||
| High-tensile strength nylon webbing | Leash maker's salary (monthly) | |||||||||||
| Polyester and nylon ribbons | Depreciation on sewing machines | |||||||||||
| Buckles made of cast hardware | Rent | |||||||||||
| Price tags | Utilities and insurance | |||||||||||
| Scissors, thread, and cording | ||||||||||||
| Loan payment | ||||||||||||
| Salary to self | ||||||||||||
| Total Variable Costs per Leash | Total Fixed Costs | $ - 0 | ||||||||||
| Harnesses | ||||||||||||
| Item | Variable Cost/Item | Item | Fixed Costs | |||||||||
| High-tensile strength nylon webbing | Harness maker's salary | |||||||||||
| Polyester and nylon ribbons | Depreciation on sewing machines | |||||||||||
| Buckles made of cast hardware | Rent | |||||||||||
| Price tags | Utilities and insurance | |||||||||||
| Scissors, thread, and cording | ||||||||||||
| Loan | ||||||||||||
| Salary to self | ||||||||||||
| Total Variable Costs per Harness | Total Fixed Costs | |||||||||||
&8ACC202 - MANAGERIAL ACCOUNTING
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/xl/drawings/drawing2.xml#HomeContribution Margin Analysis
| Milestone Two: Contribution Margin Analysis | |||||
| COLLARS | LEASHES | HARNESSES | |||
| Sales Price per Unit | |||||
| Variable Cost per Unit | |||||
| Contribution Margin | |||||
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/xl/drawings/drawing3.xml#HomeBreak-Even Analysis
| Milestone Two: Break-Even Analysis | ||||||
| COLLARS | LEASHES | HARNESSES | ||||
| Sales Price | $ - 0 | $ - 0 | $ - 0 | |||
| Fixed Costs | $ - 0 | $ - 0 | $ - 0 | |||
| Contribution Margin | $ - 0 | $ - 0 | $ - 0 | |||
| Break-Even Units (round up) | - 0 | - 0 | - 0 | |||
| Target Profit | $ 300.00 | $ 400.00 | $ 500.00 | |||
| Break-Even Units (round up) | - 0 | - 0 | - 0 | |||
| Target Profit | $ 500.00 | $ 600.00 | $ 650.00 | |||
| Break-Even Units (round up) | - 0 | - 0 | - 0 | |||
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/xl/drawings/drawing4.xml#HomeCOGS
| Milestone Three: Statement of Cost of Goods Sold | ||
| Beginning Work in Process Inventory | $ - 0 | |
| Direct Materials: | ||
| Materials: Beginning | 0 | |
| Add: Purchases for Month of January | ||
| Materials Available for Use | ||
| Deduct: Ending materials | ||
| Materials Used | ||
| Direct Labor | ||
| Overhead | ||
| Total Costs | ||
| Deduct: Ending Work in Process Inventory | 0 | |
| Cost of Goods Sold | ||
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/xl/drawings/drawing5.xml#HomeIncome Statement
| Milestone Three: Income Statement | ||
| Revenue: | ||
| Collars | $ - 0 | |
| Leashes | - 0 | |
| Harnesses | - 0 | |
| Total Revenue: | $ - 0 | |
| Cost of goods sold | - 0 | |
| Gross profit | $ - 0 | |
| Expenses: | ||
| General and administrative salaries | $ - 0 | |
| Office supplies | - 0 | |
| Other business equipment | - 0 | |
| Total Expenses | $ - 0 | |
| Net Income/Loss | $ - 0 | |
&8ACC202 - MANAGERIAL ACCOUNTING
Variances
| Milestone Three: Variance Analysis | ||||||
| Data for Variance Analysis: | ||||||
| Budgeted (Standard) Hours/Qty | Budgeted (Standard) Rate | Actual Hours/Qty | Actual Rate | |||
| Labor | ||||||
| Materials | ||||||
| Variance | Favorable or Unfavorable | |||||
| Direct Labor Time Variance | ||||||
| (Actual Hours - Standard Hours) x Standard Rate | $ - 0 | |||||
| Direct Labor Rate Variance | ||||||
| (Actual Rate - Standard Rate) x Actual Hours | $ - 0 | |||||
| Direct Materials Quantity/Efficiency Variance | ||||||
| (Actual Quantity - Standard Quantity) x Standard Price | $ - 0 | |||||
| Direct Materials Price Variance | ||||||
| (Actual Price - Standard Price) x Actual Quantity | $ - 0 | |||||
&8ACC202 - MANAGERIAL ACCOUNTING
