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Cost Accounting Project - Assignment Example

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The company manufactures candy products such as candy canes, hand-wrapped candies, and lollipops. The company has got more than 60000 employees worldwide. The company has experienced a substantial increase in the…
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Cost Accounting Project

Download file to see previous pages... At the end of year 2013, the net income of the company was $494,500 million. This is an increase of about 17%and 21% from 2012 and 2011respectively. The company brands the products and distribute to the market segments. Each market segment receives a unique brand as per their respective preference.
Enables them to company manufactures thousand units of the product at some point in time. The method provides the manager with an answer of comparison of similar products from one period to another hence having a control over the manufacturing cost. The method allows the allocation of materials that part way the process. This enables in determining the value that processes material such as the labor cost.
The company incurred several operating and management costs. The cost incurred includes factory insurance cost, plant depreciation $13,450, factory manager’s salary$90,000, laborers wages 450,000, supervisor’s salaries 250,000, power consumption $45,000 and warehouse maintenance cost 50,260. The direct cost was which composed of laborer’s wages $450,000, indirect costs was $398450 that is factory insurance $120,000, power consumption $45,000, factory manager salary $90,000, depreciation $13,450 and supervisor $250,000. The fixed cost includes the warehouse maintenance cost of $38, 000.
From the financial perspective, the company has improved due to marketing of its products and services worldwide. From the annual report, the company garnered 26 billion as the total profit after tax. This is the growth of 1.45% and 3% from 2013 and 2012 years respectively. From the customer perspective, there is an increase in the customer loyalty. This is due to the manufacture of superior quality products that give them a competitive advantage. The products sell faster than the competitors because of efficiency supply of products to the markets for their loyal customers. From internal business ...Download file to see next pagesRead More
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