ACC 202 Competencies In this project, you will demonstrate your mastery of the following competencies: Describe how managerial accounting supports manag

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ACC 202 Competencies
In this project, you will demonstrate your mastery of the following competencies:

Describe how managerial accounting supports management information systems
Utilize managerial accounting techniques and models to support an organization’s strategic plan
Explain how managerial accounting is used to make decisions about short-term business opportunities, capital investments, and evaluating operational performance

Scenario
Your business has been open for a month, and you have prepared an income statement and completed a variance analysis on the data. Now you will meet with investors and a few other internal stakeholders to share your company’s progress over the past month and how it has performed with respect to your cost and budget projections. The investors would like to see the thought process behind your financial strategy and how your company has performed in its first month. They have therefore asked you to present a report that includes the costing and income data from your Project Workbook.
Directions
Submit a detailed report to your potential investors and other stakeholders to explain and defend your costing strategies and to share your business’s performance to date. Your report can be in the form of a PowerPoint presentation or a Word document (based on the templates provided in the What to Submit section). In either format, be sure to effectively communicate with your stakeholders by breaking down concepts and using investor-friendly language to build their trust and confidence. If you choose to do a PowerPoint presentation, you’ll need to include speaker notes for each slide.

Introduction: Provide a short overview of your company and the purpose of this report.

Business Overview: Name your company and describe its business and your vision for its future.
Purpose of the Report: Explain the purpose of the report and describe why the information is important.
Methods and Approach: Explain the management accounting methods you used for generating the information that you are about to share in terms of your adherence to industry standards and the American Institute of Certified Public Accountants (AICPA) code of ethics.

Financial Strategy: Review your original business plan and costing strategies.

Costing System: Justify the use of job order costing for this business. Be sure to compare and contrast the various costing systems you learned about in this course as part of your defense.
Selling Prices: Share and explain the selling prices you established for each of your products. Be sure to reference your cost-volume-profit analysis in your defense.
Contribution Margin: Share and explain your contribution margin per unit. Be sure to reference your cost-volume-profit analysis in your defense.
Target Profits: Identify your break-even points for achieving different target profits. Then explain the target profits you selected for each area of your business. Be sure to reference your cost-volume-profit analysis in your defense.

Financial Statements: Using the information in the Milestone Two Market Research Data Appendix, assess your financial performance to date.

Statement of Cost of Goods Sold: Share the statement of cost of goods sold and logically interpret the business’s performance against the provided benchmarks.
Income Statement: Share the income statement and logically interpret the business’s performance against the provided benchmarks.
Variances: Illustrate all variances for the direct labor time and the materials price.
Significance of Variances: Evaluate the significance of the variances in terms of the potential to impact future budgeting decisions and planning.

What to Submit
To complete this project, you must submit the following:
Investor Report PowerPoint Template
Use this template to submit a PowerPoint presentation with speaker notes. Sources should be cited according to APA style.
OR
Investor Report Word Template
Use this template to submit an 8- to 10-page Word document. Sources should be cited according to APA style.
Supporting Materials
The following resource(s) may help support your work on the project:
Tutorials: PowerPoint Office 365
This set of tutorials from Infobase provides helpful information on the basic features of Microsoft PowerPoint. Use the table of contents to select the tutorials that best suit your needs.

THIS IS WHAT’S GOT TO BE DONE FOR THIS FINALE PROJECT!!!
 
Hi Everyone,
Can you believe there are only two weeks left of class already?! Has it gone fast, or did you think it would never end??
This week you only have ONE job…your final project. PLEASE READ THESE INSTRUCTIONS FOR SUBMITTING YOUR PROJECT!
First of all, you will be writing your final paper or presentation on the pet supply business we have been working on all term. That is why you did all of the work in Milestones 1 – 3 to determine costs, pricing, break-even units, financial statements and variances so you can provide a solid analysis in your final project. The assignment includes your choice of one of two documents to provide analysis on the data you completed in Milestones 1 – 3. You will create a PowerPoint Presentation of 12 to 15 slides with speaker notes or write an 8 to 10 page paper that explains and defends your costing strategies (i.e., the business plan created in your first and second milestones) and share your business’s performance to-date (i.e., the work from your third milestone). Be sure to effectively communicate to your stakeholders by breaking down concepts and using investor-friendly language to build their trust and confidence. This is directed at investors, potential investors, creditors and other interested parties, so address this audience in the paper or presentation. If using a presentation, provide speaker notes on each slide to provide what you would say in a presentation.
In addition to sharing information from your project workbook, there will be requirements for slides or paper sections that cover other topics from the class. So, in order to receive a good grade on all rubric requirements you will need to cover all of the following in your paper/presentation:

Introduction of your business, describing purpose and vision
Explains the purpose of the presentation and describes why the accounting information is important
Explains management accounting methods for generating information, and explains them in terms of adherence to industry standards and the AICPA code of ethics.
Justifies the use of job order costing for this business; compares and contrasts the various costing systems as part of the defense
How did you determine your sales prices for each service using the Cost-Value-Profit Analysis.
Discuss your contribution margin per unit. How well will this margin cover costs and generate profit?
Identifies break-even points for achieving target profits; explains selected target profits for each area of the business; references the cost-volume-profit analysis.
Identify break-even points for achieving target profits; explains selected target profits for each area of the business; references the cost-volume-profit analysis.
Provide and discuss the results of the COS and Income Statements. Provide high level discussion on what these statements show about the success of your business so far. What can be improved?
Discuss the Variances and Significances of Variances? What caused the variances and what can be done to identify and correct the causes.
Provide a good conclusion and wrap up of the paper/presentation. Remember you are addressing potential investors and other interested parties.

Please review the Final Project Guidelines and Rubric for more details on this assignment and to understand the requirements, and feel free to contact me with questions as you work on this. There are templates provided for both the paper and presentation to get you started. Feel free to make the presentation your own by using your own slide formatting, graphics, charts and tables, etc. Also attached are articles on improving presentations and inserting Excel workbooks into a presentation/paper. 
You will want to make sure your workbooks are correct so the analysis you are providing are correct in the final paper/presentation. Please reach out if you would like to verify any of the data from your milestone workbooks. 
Thanks for your hard work and good luck on this assignment! Let me know if you have any questions as you are working on this final project.
Ann
10 Tips to Improve your Presentation Slides – Strategic Finance (bit.ly)
Insert Excel data in PowerPoint – PowerPoint (microsoft.com)
https://learn.snhu.edu/d2l/le/content/841899/viewContent/14632725/View
Attachment(s): 
Final Project Suggestions for Improved Grade.docx (16.41 KB) 

I PAID 55 FOR THIS ASSIGNMENT, I JUST NEED THE MILESTONES TO BE CORECTED AND ADD THE DATA IN FORMULAS IN…. Instructions

Southern New Hampshire University

College of Continuing Education (COCE)

ACC202 – 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 Goods Manufactured 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 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 & 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#CompanyProfile
Variable & Fixed Costs
/xl/drawings/drawing1.xml#VariableFixedCosts
Cost Classification

/xl/drawings/drawing1.xml#CostClassification
Contribution Margin
/xl/drawings/drawing1.xml#ContributionMargin
Break-Even Analysis
/xl/drawings/drawing1.xml#BreakevenAnalysis
COGM Schedule
/xl/drawings/drawing1.xml#COGMSchedule
Income Statement
/xl/drawings/drawing1.xml#COGMSchedule
Variances
/xl/drawings/drawing1.xml#Variances
Instructions Milestone 1
/xl/drawings/drawing1.xml#InstructionsMilestone1
Instructions Milestone 2
/xl/drawings/drawing1.xml#’Instructions%20-%20Milestone%202′!InstructionsMilestone2
Instructions Milestone 3
/xl/drawings/drawing1.xml#’Instructions%20-%20Milestone%203′!InstructionsMilestone3

Instructions – Milestone 1

Southern New Hampshire University

College of Continuing Education (COCE)

ACC202 – 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

COST CLASSIFICATION

Accurately classify all of your costs (direct material, direct labor, manufacturing overhead, period costs)

Fixed & Variable cost designation is provided

VARIABLE & FIXED COSTS

Determine your per unit cost per dog for grooming, day care and boarding

OPERATIONAL & 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 amoung the services (grooming, day care, boarding)

SALARY & HIRING DATA

Groomer (Allison) – $12.00 an hour, 40 hours a week

Day Care Attendant (Beverly) – $9.00 per hour, based on need

Receptionist (Cathie) – $8.50 per hour, 30 hours a week

Kennel Attendant (Ben) – $11.50 per hour, based on need

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 & 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 wil 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#Home

Cost 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 x

Salary – Leash maker X x

Salary – Harness maker X x

Salary – Receptionist X

High-tensile strength nylon webbing X x

Polyester/nylon ribbons X x

Buckles made of cast hardware X x

Depreciation on sewing machines X x

Rent X x

Utilities and insurance X x

Scissors, thread, and cording X x

Price tags X x

Office supplies X

Oter business equipment X

Loan payment X x

Salary to self X x

Depreciation on sewing machines – this cost is spread between the three products based on amount of space used.

Rent – this cost is spread between the three products based on amount of space used.

Utilities and insurance – this cost is spread between the three products based on amount of space used.

Price tags – materials used for each unit of product.

Loan Payment – this cost is split evenly between the products.

Salary to self – this cost is split evenly between the products.

Hint: Look at Variable_Fixed tab – if it is a Variable cost, it is a Direct cost, if it is a Fixed cost other than direct labor salaries, it is Overhead. If neither, it’s not charged to product expense and is a Period cost.

&8ACC202 – MANAGERIAL ACCOUNTING

HOME
/xl/drawings/drawing3.xml#Home

Variable 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/nylon ribbons $ 3.00 * Depreciation on sewing machines $ 55.00 *

Buckles made of cast hardware $ 2.00 * Rent $ 250.00 *

Price tags $ 0.20
Ann Laramy: Ann Laramy:
This should be the same as you have for Leashes and Harnesses. One price tag per unit, $250 for 2500 tags. * Utilities and insurance $ 200.00 *

Scissors, thread, and cording $ 33.33
Ann Laramy: Ann Laramy:
$1200 for Scissors, thread and cording divided between the three products. *

Loan payment $ 183.33

Salary to self $ 166.67

Total Variable Costs per Collar $ 9.20 Total Fixed Costs $ 3,661.66

Leashes

Item Variable Cost/Item Item Fixed Costs

High-tensile strength nylon webbing $ 6.00 * Leash maker’s salary (monthly) $ 2,773.33 *

Polyester/nylon ribbons $ 4.50 * Depreciation on sewing machines $ 55.00 *

Buckles made of cast hardware $ 1.50 * Rent $ 250.00 *

Price tags $ 0.10 * Utilities and insurance $ 200.00 *

Scissors, thread, and cording $ 33.33
Ann Laramy: Ann Laramy:
$1200 for Scissors, thread and cording divided between the three products *

Loan payment $ 183.33 *

Salary to self $ 166.67 *

Total Variable Costs per Leash $ 12.10 Total Fixed Costs $ 3,661.66

Harnesses

Item Variable Cost/Item Item Fixed Costs

High-tensile strength nylon webbing $ 6.00 * Harness maker’s salary $ 2,946.67 *

Polyester/nylon ribbons $ 4.50 * Depreciation on sewing machines $ 55.00 *

Buckles made of cast hardware $ 4.00 * Rent $ 250.00 *

Price tags $ 0.10 * Utilities and insurance $ 200.00 *

Scissors, thread, and cording $ 33.33
Ann Laramy: Ann Laramy:
$1200 for Scissors, thread and cording divided between the three products

Ann Laramy: Ann Laramy:
This should be the same as you have for Leashes and Harnesses. One price tag per unit, $250 for 2500 tags. *

Loan $ 183.33 *

Salary to self $ 166.67 *

Total Variable Costs per Harness $ 14.60 Total Fixed Costs $ 3,835.00

*All answers should be entered as formulas to show your work, not numbers. This was covered in the instructions and announcements.

&8ACC202 – MANAGERIAL ACCOUNTING

HOME
/xl/drawings/drawing4.xml#Home

Instructions – Milestone 2

Southern New Hampshire University

College of Continuing Education (COCE)

ACC202 – 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 & 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/drawing5.xml#Home

Contribution Margin Analysis

Milestone Two – Contribution Margin Analysis

COLLARS LEASHES HARNESSES

Sales Price per Unit

Variable Cost per Unit

Contribution Margin

&8ACC202 – MANAGERIAL ACCOUNTING

HOME
/xl/drawings/drawing6.xml#Home

Break-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

&8ACC202 – MANAGERIAL ACCOUNTING

HOME
/xl/drawings/drawing7.xml#Home

Instructions – Milestone 3

Southern New Hampshire University

College of Continuing Education (COCE)

ACC202 – 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

Revenue data needed for the Income Statement will be provided at the end of Module 4

COST OF SERVICES PROVIDED SCHEDULE

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 Cost of Services Provided Schedule

VARIANCES

Use the data at the top of the schedule to calculate the following:

Variance

Favorable / Unfavorable

ACC202 – MANAGERIAL ACCOUNTING

HOME
/xl/drawings/drawing8.xml#Home

COGS

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 – 0

Materials Used

Direct Labor

Overhead

Total Costs

Deduct: Ending Work in Process Inventory 0

Cost of Goods Sold

&8ACC202 – MANAGERIAL ACCOUNTING

HOME
/xl/drawings/drawing9.xml#Home

Income 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

Depreciation – 0

Rent – 0

Utilities and insurance – 0

Scissors, thread, and cording

Loan – 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

Variances for Collar Sales

Variance Favorable/
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

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