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%%100To t a l S c o r eTo t a l S c o r e:: High risk Miguel Figueroa

Submission UUID: 9d979644-91ef-c588-4b34-90343a87dd67

To t a l N u m b e r o f R eTo t a l N u m b e r o f R e……

1 H i g h e s t M a t c hH i g h e s t M a t c h

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Running Head: MANAGEMENT OF ACCOUNTING 2

“FINANCIAL ACCOUNTING” 2

Night Inn Cookie Business Miguel Figueroa

March 2, 2021

Columbia Southern University

Night Inn Cookie Business

Abstract

Night Out Inn Cookies has “been given an order of a specialty cookie for a big event. The company was allotted twenty hours plus delivery time to complete an order of 1000 cookies. The company was tasked in defining the most cost-efficient way to process the order and deliver a product to the client for a reasonable price. Job order costing and process costing were determined to be the two methods for comparison. Job order costing is more effective at determining a lower cost, lower price item in a specific number of units with a custom order. Process costing

is more effective in start to finish manufacturing to distribute ot maintain inventory”. Introduction

Night Out Inn Cookie is a “new business with comfort and pride on in thought. We will be unveiling our newest product that grasps the at- tention of those searching for a savory and tart taste of cherry cobbler with dough dumplings. Our main concentration of customer will be

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tention of those searching for a savory and tart taste of cherry cobbler with dough dumplings. Our main concentration of customer will be those that remember a time where cherry cobbler after supper may have been a real treat, but now can take it to go”. Night Out Inn cookies “will provide an entire layout of the model and business plan, which will show step by step of success for each phase of the progressing infor-

mation”. Part 1 Establish Cookie Business

My business will be registered under the trademark of Night Out Inn Cookies. The shop, office, and eatery will be in Bremen, Georgia right off Interstate 20 consisting of a high volume of traffic of travelers and commuters. The addition of cookie being produced would be a buttery crust cherry cobbler cookie. The plan is to bring back an old home tradition of cherry cobbler with dumpling bits and cherry drizzle. The mis- sion statement would satisfy the southern tradition of a favorite homemade dessert. Bremen is in a great location located at the Alabama-

Georgia line. Part 2 Costing and Sales Information

Night Out Inn Cookie Business have received a specialty order of 1000 cherry cobbler cookies. The order will consist of standard sized 3-inch round cookies and needed by the end of the week for delivery on Friday. This gives the shop two full working days of 10 hours each to com- plete the order after ingredients are delivered and cookies are boxed to be delivered to the customer. Below is the job order for the request. By looking at the job order above we can assume that each cookie will cost us $1.14 to make (Nagendrakumar, 2017). The job order is for a cor- porate event and they added rush delivery; therefore, we can make profit on this order by marking up our product. Adding a 30% markup would bring in a profit of 342 on just that job order. Three key areas that are needed to make the cookies are ingredient mixing, biscuit dough preparation, and baking. Each of these steps are critical in the process and must completed to advance to the next step for completion. Below will be the information regarding the add in of an additional work performed meaning that cost per unit will rise. If we look at the chart, nu- merous factors are in play and add additional fees to the unit price. If we just add the mixing department at 40% conversion, the end unit price

will be $1650.00. The job order cost was approximately 500 dollars cheaper and this alone could drive away the consumer.

Part 3 Compare and Contrast Costing Methods “Job order costing is a more complex then process costing. This method be used when the company need detail information for each job. It is suitable for organizations providing products in identifiable batches or customized products or services. Process costing method is generally used for businesses producing products or services in a continuous manner. In other words, it is used when an organization manufacture similar products in large quantities” (Franklin et al., 2019). Both of “these costing methods involve costs of direct material, direct labor, and manufacturing overhead (Franklin et al., 2019). Both job order costing and process costing maintain some averaging of costs (Franklin et al., 2019)”. However, “there are still several differences between these costing methods”. Job order “costing trace the costs of a product to the product. In this method, the cost ò each particular job will be recorded on a job cost sheet. Process costing trace the costs” of a product to processes. In job order costing, each department will track its costs and input in the job cost sheet and costs per unit will be calculated by job cost sheet. In process costing, each department will calculate its costs, the quantity of units transferred in and transferred out and costs per unit are calculated by departmental costs and the equivalent units manufactured (Franklin et al., 2019). In this case, our company can use job order costing or process costing. However, our business provides just one type of cookie in a continuous man- ner. There is no need to assign costs of labor, cost of materials, and indirect costs to individual units.

Hence, I believe that process costing may be more suitable to our company since it is simpler. Part 4 Impact of Increase and Decrease

in Sales

As sales increase, revenue will also increase. This will allow for more investment into the company to grow or expand for additional orders. The overall revenue of a product clearly defines that product’s efficiency or consumption (DuHadway & Dreyfus, 2017). A decrease in sales will obvi- ously decrease the revenue. This could require discontinuing the product and cutting losses so that another product can be capitalized on for revenue. Sales of the product per unit or per cookie can make a difference in revenue depending on the request of orders or product move-

ment daily. Conclusions and Recommendations

Night Out Inn Cookies is a start-up cookie shop, which will provide the classic favorite of cherry cobbler that reminds you of home as kid. The unique flavor will remind you of cool spring Saturdays in the evening after supper as the wind carries the smell of fresh cobbler cooling on the windowsill. Customers will be taken back to childhood or be able to create a new memory with this classical favorite. Having a specific order or specialty order to fulfill will be more efficient in job order costing. A specific amount and allotted cost to materials and labor will be easier to determine cost per cookie and total cost of order (Weers, 2016). Process costing would be more effective in constant production of the product given that it generates the revenue desired. I would recommend for this specific order that job order costing be used. It is more efficient and

has better potential to gain revenue and repeat orders with overhead being minimal compared to having processing cost.

References

DuHadway, S., & Dreyfus, D. (2017). A Simulation for Managing Complexity in Sales and Operations Planning Decisions. Decision Sci-

ences Journal of Innovative Education, 330-348. doi:http://dx.doi.org.libraryresources.columbiasouthern.edu/10.1111/dsji.12134

Franklin, M., Graybeal, P., & Cooper, D. (2019). Principles of Accounting: Financial Accounting. OpenStax, Rice University. Nagendraku- mar, N. (2017). Public sector accounting and financial reporting reforms: public entities perspectives, Sri Lanka. International Journal on Gov-

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S o u r c e M a t c h e sS o u r c e M a t c h e s ( (2 72 7))

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mar, N. (2017). Public sector accounting and financial reporting reforms: public entities perspectives, Sri Lanka. International Journal on Gov- ernmental Financial Management, 16(1), 17-34. Weers Jr, G. (2016). The charitable trust model: an alternative approach for Department of De- fense accounting. NAVAL POSTGRADUATE SCHOOL MONTEREY CA MONTEREY United States.33

Student paper

MANAGEMENT OF ACCOUNTING 2

Original source

Management Applications of Accounting

Student paper

March 2, 2021

Original source

2/28/2021

Student paper

Columbia Southern University

Original source

Columbia Southern University

Student paper

Night Out Inn Cookies has “been given an order of a specialty cookie for a big event. The company was allotted twenty hours plus delivery time to complete an order of 1000 cookies. The company was tasked in defining the most cost- efficient way to process the order and deliver a product to the client for a rea- sonable price. Job order costing and process costing were determined to be the two methods for comparison.

Original source

Star-Spangled Cookies has been given an order of a specialty cookie for a big event The company was allotted twenty hours plus delivery time to complete an order of 1000 cookies The company was tasked in defining the most cost- efficient way to process the order and deliver a product to the client for a rea- sonable price Job order costing and process costing were determined to be the two methods for comparison

3/2/21, 9:06 PMOriginality Report

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Student paper 100%

Student paper 89%

Student paper 100%

Student paper 94%

Student paper

Job order costing is more effective at determining a lower cost, lower price item in a specific number of units with a custom order. Process costing is more effective in start to finish manufacturing to distribute ot maintain inventory”.

Original source

Job order costing is more effective at determining a lower cost, lower price item in a specific number of units with a custom order Process costing is more effective in start to finish manufacturing to distribute ot maintain inventory

Student paper

Night Out Inn Cookie is a “new business with comfort and pride on in thought. We will be unveiling our newest product that grasps the attention of those searching for a savory and tart taste of cherry cobbler with dough dumplings. Our main concentration of customer will be those that remember a time where cherry cobbler after supper may have been a real treat, but now can take it to go”. Night Out Inn cookies “will provide an entire layout of the model and business plan, which will show step by step of success for each phase of the progressing information”.

Original source

Star-spangled cookies is a new business with comfort and pride on in thought We will be unveiling our newest product that grasps the attention of those searching for a savory and tart taste of cherry cobbler with dough dumplings Our main concentration of customer will be those that remember a time where cherry cobbler after supper may have been a real treat, but now can take it to go Star-spangled cookies will provide an entire layout of the model and business plan, which will show step by step of success for each phase of the progressing information

Student paper

Part 1 Establish Cookie Business

Original source

Part 1 Establish Cookie Business

Student paper

My business will be registered under the trademark of Night Out Inn Cookies. The shop, office, and eatery will be in Bremen, Georgia right off Interstate 20 consisting of a high volume of traffic of travelers and commuters. The addi- tion of cookie being produced would be a buttery crust cherry cobbler cook- ie. The plan is to bring back an old home tradition of cherry cobbler with dumpling bits and cherry drizzle.

3/2/21, 9:06 PMOriginality Report

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Student paper 92%

Student paper 98%

Student paper 100%

Original source

My business will be registered under the trademark of Star-spangled cookies The shop, office, and eatery will be in Bremen, Georgia right off Interstate 20 consisting of a high volume of traffic of travelers and commuters The addi- tion of cookie being produced would be a buttery crust cherry cobbler cookie The plan is to bring back an old home tradition of cherry cobbler with dumpling bits and cherry drizzle

Student paper

The mission statement would satisfy the southern tradition of a favorite homemade dessert. Bremen is in a great location located at the Alabama- Georgia line. Part 2 Costing and Sales Information Night Out Inn Cookie Busi- ness have received a specialty order of 1000 cherry cobbler cookies.

Original source

The mission statement would satisfy the southern tradition of a favorite homemade dessert Bremen is in a great location located at the Alabama- Georgia line Part 2 Costing and Sales Information Star-spangled cookies have received a specialty order of 1000 cherry cobbler cookies

Student paper

The order will consist of standard sized 3-inch round cookies and needed by the end of the week for delivery on Friday. This gives the shop two full work- ing days of 10 hours each to complete the order after ingredients are deliv- ered and cookies are boxed to be delivered to the customer. Below is the job order for the request. By looking at the job order above we can assume that each cookie will cost us $1.14 to make (Nagendrakumar, 2017).

Original source

The order will consist of standard sized 3-inch round cookies and needed by the end of the week for delivery on Friday This gives the shop two full work- ing days of 10 hours each to complete the order after ingredients are deliv- ered and cookies are boxed to be delivered to the customer Below is the job order for the request By looking at the job order above we can assume that each cookie will cost us $1.14 to make

Student paper

The job order is for a corporate event and they added rush delivery; there- fore, we can make profit on this order by marking up our product. Adding a 30% markup would bring in a profit of 342 on just that job order. Three key areas that are needed to make the cookies are ingredient mixing, biscuit dough preparation, and baking.

Original source

The job order is for a corporate event and they added rush delivery therefore, we can make profit on this order by marking up our product Adding a 30% markup would bring in a profit of 342 on just that job order Three key areas

3/2/21, 9:06 PMOriginality Report

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Student paper 100%

Student paper 93%

Student paper 90%

markup would bring in a profit of 342 on just that job order Three key areas that are needed to make the cookies are ingredient mixing, biscuit dough preparation, and baking

Student paper

Each of these steps are critical in the process and must completed to advance to the next step for completion. Below will be the information regarding the add in of an additional work performed meaning that cost per unit will rise. If we look at the chart, numerous factors are in play and add additional fees to the unit price. If we just add the mixing department at 40% conversion, the end unit price will be $1650.00.

Original source

Each of these steps are critical in the process and must completed to advance to the next step for completion Below will be the information regarding the add in of an additional work performed meaning that cost per unit will rise If we look at the chart, numerous factors are in play and add additional fees to the unit price If we just add the mixing department at 40% conversion, the end unit price will be $1650.00

Student paper

The job order cost was approximately 500 dollars cheaper and this alone could drive away the consumer.

Original source

The job order cost was approximately 500 dollars cheaper and this alone could drive away the consumer

Student paper

Original source

Job order costing is a more complex then process costing This method be used when the company need detail information for each job It is suitable for organizations providing products in identifiable batches or customized prod- ucts or services Process costing method is generally used for businesses pro- ducing products or services in a continuous manner

Student paper

In other words, it is used when an organization manufacture similar products

3/2/21, 9:06 PMOriginality Report

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Student paper 100%

Student paper 98%

Student paper 100%

In other words, it is used when an organization manufacture similar products in large quantities” (Franklin et al., 2019). Both of “these costing methods in- volve costs of direct material, direct labor, and manufacturing overhead (Franklin et al., 2019). Both job order costing and process costing maintain some averaging of costs (Franklin et al., 2019)”. However, “there are still sev- eral differences between these costing methods”.

Original source

In other words, it is used when an organization manufacture similar products in large quantities (Franklin, Graybeal & Cooper, 2019) Both of these costing methods involve costs of direct material, direct labor, and manufacturing overhead (Franklin, Graybeal & Cooper, 2019) Both job order costing and process costing maintain some averaging of costs (Franklin, Graybeal & Coop- er, 2019) However, there are still several differences between these costing methods

Student paper

Job order “costing trace the costs of a product to the product. In this method, the cost ò each particular job will be recorded on a job cost sheet. Process costing trace the costs” of a product to processes. In job order costing, each department will track its costs and input in the job cost sheet and costs per unit will be calculated by job cost sheet.

Original source

Job order costing trace the costs of a product to the product In this method, the cost ò each particular job will be recorded on a job cost sheet Process costing trace the costs of a product to processes In job order costing, each department will track its costs and input in the job cost sheet and costs per unit will be calculated by job cost sheet

Student paper

In process costing, each department will calculate its costs, the quantity of units transferred in and transferred out and costs per unit are calculated by departmental costs and the equivalent units manufactured (Franklin et al., 2019). In this case, our company can use job order costing or process costing. However, our business provides just one type of cookie in a continuous man- ner. There is no need to assign costs of labor, cost of materials, and indirect costs to individual units.

Original source

In process costing, each department will calculate its costs, the quantity of units transferred in and transferred out and costs per unit are calculated by departmental costs and the equivalent units manufactured (Franklin, Gray- beal & Cooper, 2019) In this case, our company can use job order costing or process costing However, our business provides just one type of cookie in a continuous manner There is no need to assign costs of labor, cost of materi- als, and indirect costs to individual units

Student paper

3/2/21, 9:06 PMOriginality Report

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Student paper 100%

Student paper 97%

Student paper

Hence, I believe that process costing may be more suitable to our company since it is simpler.

Original source

Hence, I believe that process costing may be more suitable to our company since it is simpler

Student paper

Part 4 Impact of Increase and Decrease in Sales As sales increase, revenue will also increase. This will allow for more investment into the company to grow or expand for additional orders. The overall revenue of a product clearly defines that product’s efficiency or consumption (DuHadway & Dreyfus, 2017).

Original source

Part 4 Impact of Increase and Decrease in Sales As sales increase, revenue will also increase This will allow for more investment into the company to grow or expand for additional orders The overall revenue of a product clearly defines that product’s efficiency or consumption (DuHadway & Dreyfus, 2017)

Student paper

A decrease in sales will obviously decrease the revenue. This could require discontinuing the product and cutting losses so that another product can be capitalized on for revenue. Sales of the product per unit or per cookie can make a difference in revenue depending on the request of orders or product movement daily. Conclusions and Recommendations

Original source

A decrease in sales will obviously decrease the revenue This could require discontinuing the product and cutting losses so that another product can be capitalized on for revenue Sales of the product per unit or per cookie can make a difference in revenue depending on the request of orders or product movement daily Conclusions and Recommendations

Student paper

Original source

Star-Spangled cookies is a start-up cookie shop, which will provide the classic favorite of cherry cobbler that reminds you of home as kid The unique flavor

3/2/21, 9:06 PMOriginality Report

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Student paper 98%

Student paper 100%

Student paper 78%

favorite of cherry cobbler that reminds you of home as kid The unique flavor will remind you of cool spring Saturdays in the evening after supper as the wind carries the smell of fresh cobbler cooling on the windowsill Customers will be taken back to childhood or be able to create a new memory with this classical favorite Having a specific order or specialty order to fulfill will be more efficient in job order costing

Student paper

A specific amount and allotted cost to materials and labor will be easier to determine cost per cookie and total cost of order (Weers, 2016). Process cost- ing would be more effective in constant production of the product given that it generates the revenue desired. I would recommend for this specific order that job order costing be used. It is more efficient and has better potential to gain revenue and repeat orders with overhead being minimal compared to having processing cost.

Original source

A specific amount and allotted cost to materials and labor will be easier to determine cost per cookie and total cost of order Process costing would be more effective in constant production of the product given that it generates the revenue desired I would recommend for this specific order that job order costing be used It is more efficient and has better potential to gain revenue and repeat orders with overhead being minimal compared to having process- ing cost

Student paper

DuHadway, S., & Dreyfus, D.

Original source

DuHadway, S., & Dreyfus, D

Student paper

A Simulation for Managing Complexity in Sales and Operations Planning Deci- sions. Decision Sciences Journal of Innovative Education, 330-348. doi:http://dx.doi.org.libraryresources.columbiasouthern.e- du/10.1111/dsji.12134

Original source

A Simulation for Managing Complexity in Sales and Operations Planning Deci- sions Decision Sciences Journal of Innovative Education, 330-348 doi:http://dx.doi.org.libraryresources.columbiasouthern.e- du/10.1111/dsji.12134

Student paper

Franklin, M., Graybeal, P., & Cooper, D.

3/2/21, 9:06 PMOriginality Report

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Franklin, M., Graybeal, P., & Cooper, D.

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Franklin, M., Graybeal, P

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Principles of Accounting:

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Principles of Accounting

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NAVAL POSTGRADUATE SCHOOL MONTEREY CA MONTEREY United States.

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Naval Postgraduate School Monterey CA Monterey United States