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Assignment
Overview:
Business is booming at the cookie company. You are selling only online and have a factory in the southern US. You now offer 5 different kinds of cookies in various size packages and have started selling custom cookie bouquets. Corporate sales are a significant portion of your business as well as fund raising for nonprofit organizations. You attended a lean manufacturing conference and are contemplating how lean manufacturing concepts might be implemented into your systems.
Deliverables: This is an individual assignment. You will not be working with your team this week.
Answer the following questions about your cookie company:
1. Draw a general supply chain and value chain for your company (review textbook chapter 1).2. Give a list of value and non-value added activities and costs for your company.3. Give 2 examples of activities for each cost hierarchy category in Activity Based Costing and a cost driver for each activity.4. Explain how use of Lean and ABC might improve the efficiency within your organization.5. How might backflush costing improve efficiency.
Determine the unit product cost under absorption costing and variable costing.
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Prepare a statement of cash flows using the indirect method and Compute free cash flow.
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Prepare a performance report for the North plant. Include a flexible budget and variance analysis. Prepare a performance report for the South plant. Include a flexible budget and variance analysis.
Identify at least three factors that should be present for an organization to successfully implement a quality-improvement program.
Calculate the overapplied or underapplied overhead for the year. Prepare a journal entry to close out the Manufacturing Overhead account into Cost of Goods Sold.
Prepare a cost of production report, and identify the missing amounts for Work in Process-Roasting Department
1. if you had to select between the direct method or the step down method which could you choose? 2. if you were to
Identify whether each of the following would be reported as an operating, investing or financing activity in the statement of cash flows.
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