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Choose an item that you would like to manufacture




Question;Choose an item that you;would like to manufacture. You do not actually need to manufacture something;but will proceed through the assignment as if you were planning on;manufacturing the item you have selected. The product should require materials;and labor and be something that you are familiar with in process from start to;finish. The product must be useful and marketable. You can choose something as;simple as making chocolate chip cookies, a type of craft, or something more;complicated. Consider production as if you were making the product from;beginning to end, and not as if using a kit.;Perform the following;steps;Choose a product to;manufacture and to describe the manufacturing process.;Prepare the following;budgets for 1 quarter broken down monthly regarding your chosen item: estimated;sales budget, estimated direct materials budget, estimated direct labors;budget, estimated manufacturing overhead budget, estimated selling and;administrative expenses and an estimated income statement.;Classify all manufacturing;costs and selling and administrative expenses as either variable or fixed.;Prepare a contribution;margin income statement separating all variable and fixed costs into their own;categories.;Determine the breakeven;point in units and dollars. Also, determine the number of units and dollars;that need to be sold to make a target profit of $5,000 a month.;Identify what types of;trends you should be aware of in the industry and who the primary competitors;are.;Answer the following;question: If you had to improve the bot***** *****ne, what would you do and;what concerns would you have going forward.;Choose a piece of;equipment that you might consider purchasing to increase production of your;item and address the following questions: What types of capital budgeting;factors would you look at when deciding whether to do this? What would be the;relevant costs that you would consider in this decision?;Your final project;should be in the form of a paper using Microsoft Word that addresses each of;these different areas. Steps #1, 6, 7 and 8 will be in paragraph form and Steps;#2, 3, 4 and 5 will involve numerical calculations that should be put into the;form of a table in proper format and included as part of the paper. You should;show any calculations in either a table within Word or you can copy and paste;your calculations directly from Microsoft Excel into Microsoft Word. Your paper;should be 3-6 double-spaced pages (body of the paper) and should follow APA;formatting. You should also cite any references that you use.


Paper#52394 | Written in 18-Jul-2015

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