COST ACCOUNTING

FIVE PAGE PAPER (plus exhibits and references, as appropriate).

CHOOSE ONE TOPIC TO DO THE PAPER ON (A-D)

a. Mowing the lawn b. Changing the oil in a car c. Preparing a meal or a dessert d. Cleaning your dorm room or apartment

Estimate as best you can the cost of materials, labor, and overhead cost to determine the cost o goods produced or cost of services rendered. Based on your estimate cost, what would you consider a reasonable sales price for your product or service? Justify your answer.

Ch.4&5 Visit a local company that is allocating overhead based on direct labor or machine hours. Observe the production or service operations and determine what, if any, would be a better activity base (or bases) on which to allocate overhead.

Ch. 5 Find a company in your area that has implemented some form of activity-based costing. Write a case analysis of that implementation. (COMPANY MUST BE IN THE US)

Ch. 4 Browse through the telephone directory for your area and try to determine which types of businesses would use a job order costing system. Call several businesses and talk to the accountants about the systems. Ask if you can have a copy of a job cost sheet and compare it to the one in the text. What might be the reasons for any differences? (BUSINESS MUST BE IN THE US)

Ch. 4, 5, 17 Choose a product that is manufactured in your area. Draft an illustration of the manufacturing process of that product and indicate the points at which you would assume that the various manufacturing components would be added (similar to the manufacturing diagram in the chapter).

Ch. 6 Prepare a computerized personal cash flow budget for a six month period of time (for each month and in total). In the event that you project an excess of expenditures over inflows, what alternatives do you have to cover your outflows? How can you increase your inflows? Explain the rationale you used in developing the budget.