Accounting concepts and standards to the creation of accounting information and reports.

 

Now that your cookie business is well underway, you are going to use the knowledge that you have gained in this course to evaluate the financial information for the company. You will be creating a series of reports and analyzing the results using the templates provided to guide you through the project. The learning objectives of this project are as follows:

Apply accounting concepts and standards to the creation of accounting information and reports.
Analyze accounting information used to make strategic business decisions.
Apply ethical behavior to accounting-related situations.
Make business decisions based on analyzing accounting data.
Using the Unit VII Final Project Template , prepare a four- to five-page written report (including spreadsheets) with at least three scholarly sources. Your report will provide the following information:
Introduction
Part 1: Based on the data presented in the Unit VII Spreadsheet Template in Excel (CM Breakeven tab):
Calculate the contribution margin (CM) for each of the three products sold at the cookie business.
Calculate the weighted average CM.
Calculate the breakeven point.
Complete your calculations by filling in the highlighted cells, and embed a copy of the completed spreadsheet into this report. Discuss the results based on your calculations as far as which type of cookie you think is the most profitable, which has the highest CM, etc.

Part 2: Based on the data presented in the Unit VII Spreadsheet Template in Excel (Full Variable tab), complete the calculations listed below.
Calculate the value of ending inventory under full or absorption costing.
Calculate the value of ending inventory under variable costing.
Complete your calculations by filling in the highlighted cells, and embed a copy of the completed spreadsheet into this report. Discuss the results, and comment on which method you think is more helpful to managers and why.

 

Sample Solution

mmary: create a logical summary of the information presented in the source
In this article Weiler describes the theater in which long range precision shooting is used within the aspects of special operation in the military. He covers why some shots would need to be taken and which type of rifle would serve that particular task best. He does not form an opinion of which rifle is “best”, but rather points out the strong points of either platform. He sums up the article with a message of choosing the best tool for the job required, whether it be a bolt gun or an auto.
Credibility: create a logical analysis of the credibility of the source’s author (if no author listed, evaluate the credibility of the publication)
Jon Weiler is a former Army Sniper instructor. He has taught many Military and Law Enforcement Snipers, both foreign and domestic, along with numerous recreational shooters.
Relevance: analyze the relevance of each source to your chosen topic
Weiler covers the history of the use of sniper rifles in the military; how they have evolved from a simple bolt action repeater to complicated firing systems that can send ten bullets down range in under fifteen seconds. I will us his information to explain the simplicity of bolt guns and why they are so reliable.

Reference Citation (APA style required)
Dury, J. L. (2002, August 18). Bolt Action Vs. Semi-Auto: Which Make The Best Used Rifles? Retrieved from https://www.durysguns.com/news/bolt-action-vs.-semi-auto-which-make-the-best-used-rifles
Summary: create a logical summary of the information presented in the source
This news article was written to help hunters decide which type of rifle is best suited for hunting; semi-auto or bolt action. Dury covers all the pros and cons of both shooting platforms. His opinions are not bias and leaves the decision to the buyer of which weapon will best suite his/her needs based what the rifle will be used for.
Credibility: create a logical analysis of the credibility of the source’s author (if no author listed, evaluate the credibility of the publication)
John Dury was the owner of Dury’s Gun Shop in San Antonio, Texas for over forty-five years. He was a gunsmith that built many firearms from the ground up and repaired and customized rifles and handguns alike. His reputation for excellent work is unparalleled in the San Antonio, Texas area.
Relevance: analyze the relevance of each source to your chosen topic
In this article, Dury points out in simple terms how bolt action rifles differ from semi-auto rifles. I will specifically use his explanation of why bolt action rifles have a harder recoil than a semi-auto r

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