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CopyofACC202FinalProjectWorkbook-1.xlsxInstructions
| Southern New Hampshire University | |||||||||||
| College of Continuing Education (COCE) | |||||||||||
| ACC 202 - Managerial Accounting | |||||||||||
| MILESTONE 1 (Due in Module 2) | MILESTONE 2 (Due in Module 4) | MILESTONE 3 (Due in Module 5) | |||||||||
| 1. | 1. | 1. | |||||||||
| Name | Choose a price range and calculate: | Create a Cost of Services Schedule. | |||||||||
| Location | Grooming | ||||||||||
| Vision | Day Care | ||||||||||
| Mission | Boarding | ||||||||||
| 2. | 2. | 2. | |||||||||
| Identify the following: | Calculate the break-even units: | Create an Income Statement. | |||||||||
| Direct Materials | Grooming | Revenue will be provided at the end of week 4. | |||||||||
| Diret Labor | Day Care | ||||||||||
| Manufacturing Overhead | Boarding | ||||||||||
| Period Costs | Calculate the break-even for target profits: | ||||||||||
| 3. | Grooming | 3. | |||||||||
| Day Care | |||||||||||
| Calculate the Variable and Fixed Costs for: | Boarding | Calculate for the Grooming line: | |||||||||
| Grooming | Direct Labor Time Variance | ||||||||||
| Day Care | Direct Labor Rate Variance | ||||||||||
| Boarding | Direct Materials Efficiency Variance | ||||||||||
| Direct Materials Price Variance |
ACC202 - MANAGERIAL ACCOUNTING
Company Profile
/xl/drawings/drawing1.xml#CompanyProfileVariable and Fixed Costs
/xl/drawings/drawing1.xml#VariableFixedCostsCost Classification
/xl/drawings/drawing1.xml#CostClassificationContribution Margin
/xl/drawings/drawing1.xml#ContributionMarginBreak-Even Analysis
/xl/drawings/drawing1.xml#BreakevenAnalysisCOS Schedule
/xl/drawings/drawing1.xml#COGMScheduleIncome Statement
/xl/drawings/drawing1.xml#'Income%20Statement'!A1Variances
/xl/drawings/drawing1.xml#VariancesInstructions Milestone 1
/xl/drawings/drawing1.xml#InstructionsMilestone1Instructions Milestone 2
/xl/drawings/drawing1.xml#'Instructions%20-%20Milestone%202'!InstructionsMilestone2Instructions Milestone 3
/xl/drawings/drawing1.xml#'Instructions%20-%20Milestone%203'!InstructionsMilestone3Instructions - Milestone 1
| Southern New Hampshire University | ||||
| College of Continuing Education (COCE) | ||||
| ACC 202 - Managerial Accounting | ||||
| INSTRUCTIONS FOR MILESTONE 1 (Due Week 2) | ||||
| IMPORTANT NOTE: | ||||
| Make sure to completely review the rubric for Milestone 1. | ||||
| Use the data from this milestone and begin working on your final presentation due in Milestone 4 (Week 7). | ||||
| ITEMS TO COMPLETE FOR THIS MILESTONE (Blue Tabs): | ||||
| GENERAL | ||||
| You plan to open a pet services business that will offer dog grooming, day care, and boarding. | ||||
| COMPANY PROFILE TAB | ||||
| Determine a company name. Be creative (e.g., "Inspiring Dog Care"). | ||||
| Pick a location (e.g., "Chicago"). | ||||
| Define your company's vision and mission for how your business will add value to the community. | ||||
| COST CLASSIFICATION | ||||
| Accurately classify all of your costs (direct material, direct labor, manufacturing overhead, period costs). | ||||
| Fixed and variable cost designation is provided. | ||||
| VARIABLE AND FIXED COSTS | ||||
| Determine your per-unit cost per dog for grooming, day care, and boarding. | ||||
| OPERATIONAL AND COST INFORMATION: | ||||
| For simplicity, base all calculations using 30 days in each month. | ||||
| OPERATIONAL DATA | ||||
| Grooming: | ||||
| The groomer can groom 5 dogs a day, 5 days a week. | ||||
| Each grooming takes 1.5 labor hours. | ||||
| Day Care: | ||||
| The day care can house 10 large dogs and 12 small dogs daily. | ||||
| Day care is offered 6 days a week. | ||||
| Boarding: | ||||
| There are 12 kennels (single dog only). | ||||
| Boarding (kennel services) is offered every day. | ||||
| Facilities: | ||||
| The Grooming facility is 200 square feet | ||||
| The Boarding facility is 2,500 square feet | ||||
| The Day Care facility is 1,500 square feet | ||||
| General: | ||||
| Loan for start-up costs - monthly payment of $420; in effect immediately; limited cash and loan funding - used angel investors | ||||
| Modest monthly draw of $600 a month for first year; should be divided evenly among the services (grooming, day care, boarding) | ||||
| SALARY & HIRING DATA | ||||
| Groomer - $12.00 an hour, 40 hours a week | ||||
| Day Care Attendant - $9.00 per hour, 22 days per month, 8 hours a day | ||||
| Receptionist - $8.50 per hour, 30 hours a week | ||||
| Kennel Attendant - $11.50 per hour, 22 days per month, 8 hours a day | ||||
| OTHER COST DATA | ||||
| Grooming: | ||||
| Dog Grooming Arm - $300 | . | |||
| Grooming Table - $900 | ||||
| Grooming Tub - $2,800 | ||||
| Clippers - $136.99; can be used for 100 grooms | ||||
| Shampoo - $103.96 per 5-gallon pail; can be used for 100 grooms | ||||
| Salon Tuff Capri Mobile Carry Cart - $90 | ||||
| Scissors (7-inch straight) - $194.99; used for 200 grooms | ||||
| Scissors (ear and nose) - $7.49; used for 200 grooms | ||||
| Day Care: | ||||
| Fencing for Day Care area - $1,249 | ||||
| Fencing Installation - $1,000 | ||||
| Toys - $3.29 per 6 pack; one toy will last for two dogs in day care per day | ||||
| Rubberized Flooring for Day Care - $3,800 | ||||
| Boarding: | ||||
| 12 Kennels; Depreciation is $80 per month | ||||
| General: | ||||
| Food and Water bowls - $3.59 per unit | ||||
| Day Care - two bowls last for every 75 dogs that attend daycare | ||||
| Boarding - two bowls last for every 100 dogs boarded; two bowls per kennel | ||||
| Grooming - each bowl lasts for 20 grooms and you need 4 bowls at all times | ||||
| Towels - $34.99 per 12 pack | ||||
| Day Care - 12 towels for every 25 dogs | ||||
| Boarding - 12 towels for every 40 dogs | ||||
| Grooming - 2 towels for every groom per day | ||||
| Heating System - $10,000; Depreciation is $83 per month; Allocate based on square footage | ||||
| Rent - $650 per month; Allocate based on square footage | ||||
| Utilities / Insurance - $600 per month; Allocate based on square footage | ||||
| Cage Bank - $2,200 per set of 5 | ||||
| Dryer - $1,250 | ||||
| Cleaning Products | ||||
| Odoban - $14.55 per gallon; Each area will dilute 1 oz to 1 gallon of water; Allocate based on square footage | ||||
| Simple Green - $15.66 per gallon; Each area will dilute 1 oz to 1 gallon of water; Allocate based on square footage | ||||
| . |
ACC202 - MANAGERIAL ACCOUNTING
HOME
/xl/drawings/drawing2.xml#HomeCompany Profile
| MILESTONE 1 - Company Profile | |||
| Company Name | XYZ Corporation | ||
| Location | |||
| Vision | |||
| Mission | |||
ACC202 - MANAGERIAL ACCOUNTING
HOME
/xl/drawings/drawing3.xml#HomeCost Classification
| XYZ Corporation | ||||||||
| MILESTONE 1 - Cost Classification Exercise | ||||||||
| INSTRUCTIONS: | ||||||||
| Classify each item or cost as: Direct Material, Direct Labor, Manufacturing Overhead, or Period Costs. | ||||||||
| Place an X in the appropriate column. No numbers are needed. | ||||||||
| The fixed and variable cost classifications have been provided for you. For more information, see Objective 1 in Chapter 5. | ||||||||
| Item/Cost | Direct Material | Direct Labor | Manufacturing Overhead | Period Costs | Fixed | Variable | ||
| Groomer | X | |||||||
| Day care attendant | X | |||||||
| Receptionist | X | |||||||
| Kennel attendant | ||||||||
| Food and water bowls | X | |||||||
| Fencing for day care area | ||||||||
| Installation of fencing | ||||||||
| Dog grooming arm (attaches to table) | ||||||||
| 12 kennels cost | ||||||||
| Depreciation on kennels | ||||||||
| Rent | X | |||||||
| Utilities and insurance | X | |||||||
| Grooming table | X | |||||||
| Grooming tub 48" | X | |||||||
| Heating system | X | |||||||
| Depreciation on heating system | X | |||||||
| Clippers | ||||||||
| Shampoo (Crystal Clear: five-gallon pail) | X | |||||||
| Cage bank (set of five) | ||||||||
| Salon Tuff Capri mobile carry cart | ||||||||
| Towels | ||||||||
| Scissors (7-inch straight, ear & nose) | ||||||||
| Toys (used in day care only) | X | |||||||
| Cleaning products (used throughout) | X | |||||||
| Dryer | ||||||||
| Rubberized flooring (day care) | X | |||||||
| Loan | X | |||||||
| Draw | X | |||||||
&8ACC202 - MANAGERIAL ACCOUNTING
HOME
/xl/drawings/drawing4.xml#HomeVariable_Fixed
| XYZ Corporation | ||||||
| MILESTONE 1 - Variable and Fixed Cost Exercise | ||||||
| INSTRUCTIONS: | ||||||
| Determine the per-unit cost for each dog. | ||||||
| Fill in the blanks to get the per-unit cost and fixed cost of each service. Most costs are provided for you. Only fill in the missing costs. | ||||||
| Based on 5 grooms per day | ||||||
| GROOMING | ||||||
| Item | Variable Costs | Item | Fixed Costs | |||
| Shampoo | $ - 0 | Groomer | $ - 0 | |||
| Clipper(s) | 1.37 | Rent | 30.95 | |||
| Bowls | 0.72 | Loan | 20.00 | |||
| Towels | 5.83 | Utilities and Insurance | 28.57 | |||
| Scissors | 1.01 | Depreciation on heating system | 3.95 | |||
| Cleaning Products: Odoban | 2.08 | |||||
| Cleaning Products: Simple Green | 2.36 | |||||
| Draw | 200.00 | |||||
| Total Variable Costs | $ 9.97 | Total Fixed Costs | $ 2,367.92 | |||
| Based on 22 dogs per day, 25 operating days for day care, and 22 eight-hour work days for day care attendant. | ||||||
| DAY CARE | ||||||
| Item | Variable Costs | Item | Fixed Costs | |||
| Day care attendant | $ 2.88 | Rent | $ 232.14 | |||
| Toys | 0.27 | Loan | 150.00 | |||
| Bowls | 0.19 | Utilities and Insurance | - 0 | |||
| Towels | 1.40 | Depreciation on heating system | 29.64 | |||
| Cleaning Products: Odoban | 15.59 | |||||
| Cleaning Products: Simple Green | 16.78 | |||||
| Draw | 200.00 | |||||
| Total Variable Costs | $ - 0 | Total Fixed Costs | $ 858.44 | |||
| Based on 12 dogs per day, 30 operating days for boarding, and 22 eight-hour work days for kennel attendant. | ||||||
| BOARDING | ||||||
| Item | Variable Costs | Item | Fixed Costs | |||
| Kennel attendant | $ - 0 | Depreciation on kennels | $ 80.00 | |||
| Bowls | 0.86 | Rent | 386.90 | |||
| Towels | 0.87 | Loan | 250.00 | |||
| Utilities and Insurance | - 0 | |||||
| Depreciation on heating system | 49.40 | |||||
| Cleaning Products: Odoban | 25.98 | |||||
| Cleaning Products: Simple Green | 29.55 | |||||
| Draw | 200.00 | |||||
| Total Variable Costs | $ 7.35 | Total Fixed Costs | $ 1,378.97 | |||
&8ACC202 - MANAGERIAL ACCOUNTING
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/xl/drawings/drawing5.xml#HomeInstructions - Milestone 2
| Southern New Hampshire University |
| College of Continuing Education (COCE) |
| ACC 202 - Managerial Accounting |
| INSTRUCTIONS FOR MILESTONE 2 (Due Week 4) |
| IMPORTANT NOTE: |
| Make sure to completely review the rubric for Milestone 2. |
| Use the data from this milestone and begin working on your final presentation due in Milestone 4 (Week 7). |
| ITEMS TO COMPLETE FOR THIS MILESTONE (Green Tabs): |
| GENERAL |
| Use data from Milestone 1 in your analysis. |
| CONTRIBUTION MARGIN ANALYSIS |
| Select a price for each service (grooming, day care, boarding). |
| Determine the variable cost from the Variable_Fixed tab for each service. |
| Calculate the contribution margin for each service based on your sales price and the variable cost for that service. |
| BREAK-EVEN ANALYSIS |
| Determine the fixed cost from the Variable_Fixed tab for each service. |
| Fixed and Variable cost designation is provided. |
| Calculate the break-even units (round up) for each service. |
| Calculate the break-even units (round up) for suggested target profit levels for each service. |
ACC202 - MANAGERIAL ACCOUNTING
HOME
/xl/drawings/drawing6.xml#HomeContribution Margin Analysis
| XYZ Corporation | |||||||
| MILESTONE 2 - Contribution Margin per Unit and Contribution Margin Ratio | |||||||
| INSTRUCTIONS: | |||||||
| Select a price from the scenarios below and compute the contribution for each service based on your selected price. | |||||||
| Variable cost per unit comes from your Variable_Fixed tab completed in Milestone 1. | |||||||
| SCENARIO (choose one from each category): | |||||||
| Dog Day Care | |||||||
| 1. With pricing at $18 per dog per day, you can expect to have 22 dogs per day. | |||||||
| 2. With pricing at $20 per dog per day, you can expect to have 15 dogs per day. | |||||||
| 3. With pricing at $25 per dog per day, you can expect to have 10 dogs per day. | |||||||
| Overnight Boarding | |||||||
| 1. With pricing at $25 per dog per day, you can expect to have 12 dogs per day. | |||||||
| 2. With pricing at $28 per dog per day, you can expect to have 10 dogs per day. | |||||||
| 3. With pricing at $30 per dog per day, you can expect to have 7 dogs per day. | |||||||
| Basic Groom | |||||||
| 1. With pricing at $25 per dog per day, you can expect to have 5 dogs per day. | |||||||
| 2. With pricing at $30 per dog per day, you can expect to have 4 dogs per day. | |||||||
| 3. With pricing at $35 per dog per day, you can expect to have 3 dogs per day. | |||||||
| DAY CARE | BOARDING | GROOMING | |||||
| Sales Price | $ - 0 | $ - 0 | $ - 0 | ||||
| Variable Cost per Unit | - 0 | - 0 | - 0 | ||||
| Contribution Margin | $ - 0 | $ - 0 | $ - 0 | ||||
&8ACC202 - MANAGERIAL ACCOUNTING
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/xl/drawings/drawing7.xml#HomeBreak-Even Analysis
| XYZ Corporation | |||||||
| MILESTONE 2 - Break-Even Analysis | |||||||
| INSTRUCTIONS: | |||||||
| Show all steps and calculations to determine the break-even. | |||||||
| Determine the break-even for the target profit levels as outlined in the instructions. | |||||||
| Round all decimals UP to next whole number. | |||||||
| Break-even = Fixed Costs / Contribution Margin | |||||||
| DAY CARE | BOARDING | GROOMING | |||||
| 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 | $ 417.00 | $ 583.00 | $ 1,000.00 | ||||
| Break-Even Units (round up) | - 0 | - 0 | - 0 | ||||
| Target Profit | $ 667.00 | $ 909.00 | $ 1,500.00 | ||||
| Break-Even Units (round up) | - 0 | - 0 | - 0 | ||||
&8ACC202 - MANAGERIAL ACCOUNTING
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/xl/drawings/drawing8.xml#HomeInstructions - Milestone 3
| Southern New Hampshire University |
| College of Continuing Education (COCE) |
| ACC 202 - Managerial Accounting |
| INSTRUCTIONS FOR MILESTONE 3 (Due Week 5) |
| IMPORTANT NOTE: |
| Make sure to completely review the rubric for Milestone 3. |
| Use the data from this milestone and begin working on your final presentation due in Milestone 4 (Week 7). |
| ITEMS TO COMPLETE FOR THIS MILESTONE (Purple Tabs): |
| GENERAL |
| Use data from Milestone 1 and Milestone 2 in your analysis. |
| Data needed for the income statement will be shared in an announcement at the end of Module Four. |
| COST OF SERVICES SCHEDULE (THIS IS THE SAME AS A COST OF GOODS MANUFACTURED SCHEDULE. THIS IS USED FOR SERVICE COMPANIES.) |
| Use the data at the top of the schedule to complete the report. |
| INCOME STATEMENT |
| Use the data at the top of the schedule to complete the report. |
| Use the data from your COS Schedule. |
| VARIANCES |
| Use the data at the top of the schedule to calculate the following: |
| Variance |
| Favorable / Unfavorable |
ACC202 - MANAGERIAL ACCOUNTING
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/xl/drawings/drawing9.xml#HomeCOS Schedule
| XYZ Corporation | ||||
| MILESTONE 3 - Statement of Cost of Services | ||||
| INSTRUCTIONS: | ||||
| The following are the actual numbers for January: | ||||
| Materials | ||||
| Purchased $5,000 of Materials | ||||
| Consumed 40% of those purchased materials | ||||
| Direct Labor | ||||
| Direct Labor was $6,240 | ||||
| Factory Overhead | ||||
| Factory Overhead was $2,800 | ||||
| XYZ Corporation | ||||
| Statement of Cost of Services | ||||
| For the Month Ended January 31, xxxx | ||||
| Beginning Work-in-Process Inventory | $ - 0 | |||
| Direct Materials: | ||||
| Materials - Beginning | $ - 0 | |||
| Add: Purchases for month of January | - 0 | |||
| Materials Available for Use | $ - 0 | |||
| Deduct: Ending Materials | - 0 | |||
| Materials Used | $ - 0 | |||
| Direct Labor | - 0 | |||
| Factory Overhead | - 0 | |||
| Total Manufacturing Overhead | $ - 0 | |||
| Deduct: Ending Work-in-Process Inventory | - 0 | |||
| Cost of Services | $ - 0 | |||
&8ACC202 - MANAGERIAL ACCOUNTING
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/xl/drawings/drawing10.xml#HomeIncome Statement
| XYZ Corporation | ||||
| MILESTONE 3 - Income Statement | ||||
| INSTRUCTIONS: | ||||
| Complete the statement in proper form. | ||||
| Revenue will be provided in an announcement at the end of Module 4 | ||||
| (based on actual number of services for your pricing levels). | ||||
| Additional information necessary to complete the income statement: | ||||
| General and Administrative Salaries paid = $1,200 | ||||
| Advertising = $100 | ||||
| Cleaning Products = $120 | ||||
| Depreciation = $83 | ||||
| Rent = $650 | ||||
| Loan = $420 | ||||
| Utilities and Insurance = $600 | ||||
| XYZ Corporation | ||||
| Income Statement | ||||
| For the Month Ended January 31, xxxx | ||||
| Revenue: | ||||
| Grooming | $ - 0 | |||
| Day Care | - 0 | |||
| Boarding | - 0 | |||
| Total Revenue | $ - 0 | |||
| Cost of Goods Sold * | - 0 | |||
| Gross Profit | $ - 0 | |||
| Expenses: | ||||
| G&A Salaries | $ - 0 | |||
| Advertising | - 0 | |||
| Cleaning Products | - 0 | |||
| Depreciation | - 0 | |||
| Rent | - 0 | |||
| Loan | - 0 | |||
| Utilities and Insurance | - 0 | |||
| Total Expenses | $ - 0 | |||
| Net Income / Loss | $ - 0 | |||
| * Cost of Goods Sold = Cost of Services (COS) | ||||
| There is no finished goods inventory to maintain. | ||||
&8ACC202 - MANAGERIAL ACCOUNTING
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/xl/drawings/drawing11.xml#HomeVariances
| XYZ Corporation | ||||||
| MILESTONE 3 - Variance Analysis | ||||||
| INSTRUCTIONS: | ||||||
| Prepare the variances and identify whether they are favorable or unfavorable. | ||||||
| The below website will provide further assistance with variances: | ||||||
| http://accounting-simplified.com/management/variance-analysis/material/price.html | ||||||
| DATA FOR VARIANCE ANALYSIS: | ||||||
| Standard Hours / Qty | Standard Rate | Actual Hours / Qty | Actual Rate | |||
| Grooming Labor | 150 | $ 12.00 | 180 | $ 11.50 | ||
| Grooming Materials | 1,000 | $ 2.00 | 1,200 | $ 3.00 | ||
| Variance | Favorable/ Unfavorable | |||||
| Groomer Direct Labor Time Variance | ||||||
| (Actual Hours - Standard Hours) x Standard Rate | $ - 0 | |||||
| Groomer Direct Labor Time Variance | ||||||
| (Actual Rate - Standard Rate) x Actual Hours | $ - 0 | |||||
| Groomer Direct Labor Time Variance | ||||||
| (Actual Quantity - Standard Quantity) x Standard Price | $ - 0 | |||||
| Groomer Direct Labor Time Variance | ||||||
| (Actual Price - Standard Price) x Actual Quantity | $ - 0 | |||||
&8ACC202 - MANAGERIAL ACCOUNTING
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/xl/drawings/drawing12.xml#Home http://accounting-simplified.com/management/variance-analysis/material/price.html
