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5-1 Final Project Milestone Three: Final Workbook

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Instructions

In this third milestone, you will respond to an updated scenario in which your business has opened and you need to report on your progress to your investors. You will complete your workbook based on the provided information, which you gained access to upon submitting Milestone Two last week.

To complete this assignment, review the prompt and grading rubric in theMilestone Three Guidelines and Rubricdocument. When you have finished your work, submit the assignment here for grading and instructor feedback.

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Rubric Name: ACC 202 Milestone Three Guidelines and Rubric

This table lists criteria and criteria group name in the first column. The first row lists level names and includes scores if the rubric uses a numeric scoring method.Critical ElementsProficientNot EvidentCriterion ScoreStatement of Cost of Services25 points

Creates the statement of cost of services using the provided benchmarks

0 points

Does not create the statement of cost of services

/25Income Statement25 points

Creates the income statement using the provided benchmarks

0 points

Does not create the income statement

/25Identify All Variances25 points

Identifies all variances for the direct labor time and the materials price

0 points

Does not identify variances for the direct labor time and the materials price

/25Significance of the Variances25 points

Indicates the significance of the variances

0 points

Does not evaluate the significance of the variances

/25Rubric Total ScoreTotal/100

Overall Score

Overall Score

Proficient1 point minimum
Instructors should not modify this row (it will automate from the scores above). This score represents the
average evaluation across all rubric criteria." style="overflow: hidden; width: 100%; overflow-wrap: break-word;">

Instructors should not modify this row (it will automate from the scores above). This score represents the
average evaluation across all rubric criteria.

Not Evident0 points minimum
Instructors should not modify this row (it will automate from the scores above). This score represents the
average evaluation across all rubric criteria." style="overflow: hidden; width: 100%; overflow-wrap: break-word;">

Instructors should not modify this row (it will automate from the scores above). This score represents the
average evaluation across all rubric criteria.

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Answered 1 days After Feb 05, 2021

Solution

Nitish Lath answered on Feb 07 2021
162 Votes
Instructions
    Southern New Hampshire University
    College of Continuing Education (COCE)
    ACC202 - Managerial Accounting
    MILESTONE 1 (Due in Module 2)                MILESTONE 2 (Due in Module 4)                    MILESTONE 3 (Due in Module 5)
    1.                    1.                    1.
        Name                    Choose a price range and calculate:                    Create a Cost of Goods Manufactured Schedule
        Location                    Grooming
        Vision                    Day Care
        Mission                    Boarding
    2.                    2.                    2.
        Identify the following:                    Calculate the
eak-even units                    Create an Income Statement
        Direct Materials                    Grooming                    Revenue will be provided end of week 4
        Diret Labor                    Day Care
        Manufacturing Overhead                    Boarding
        Period Costs                    Calculate the
eak-even for target profits
    3.                        Grooming                3.
                            Day Care
        Calculate the Variable & Fixed Costs for:                    Boarding                    Calculate for the Grooming line:
        Grooming                                        Direct Labor Time Variance
        Day Care                                        Direct Labor Rate Variance
        Boarding                                        Direct Materials Efficiency Variance
                                                Direct Materials Price Variance
ACC202 - MANAGERIAL ACCOUNTING    
Company Profile
xl/drawings/drawing1.xml#CompanyProfileVariable & Fixed Costs
xl/drawings/drawing1.xml#VariableFixedCostsCost Classification
xl/drawings/drawing1.xml#CostClassificationContribution Margin
xl/drawings/drawing1.xml#ContributionMarginBreak-Even Analysis
xl/drawings/drawing1.xml#BreakevenAnalysisCOGM Schedule
xl/drawings/drawing1.xml#COGMScheduleIncome Statement
xl/drawings/drawing1.xml#COGMScheduleVariances
xl/drawings/drawing1.xml#VariancesInstructions Milestone 1
xl/drawings/drawing1.xml#InstructionsMilestone1Instructions Milestone 2
xl/drawings/drawing1.xml#'Instructions%20-%20Milestone%202'!InstructionsMilestone2Instructions Milestone 3
xl/drawings/drawing1.xml#'Instructions%20-%20Milestone%203'!InstructionsMilestone3
Instructions - Milestone 1
    College of Continuing Education (COCE)
    ACC202 - Managerial Accounting
    INSTRUCTIONS FOR MILESTONE 1 (Due Week 2)
    IMPORTANT NOTE:
    Make sure to completely review the Ru
ic for Milestone 1
    Use the data from this Milestone and begin working on your final presentation due in Milestone 4 (Week 7)
    ITEMS TO COMPLETE FOR THIS MILESTONE (Blue Tabs):
    GENERAL
    You plan to open a pet services business that will offer dog grooming, day care and boarding
    COMPANY PROFILE TAB
    Determine a company name. Be creative (e.g. "Inspiring Dog Care")
    Pick a location (e.g. "Chicago")
    Define your company's vision and mission for how your business will add value to the community
    COST CLASSIFICATION
    Accurately classify all of your costs (direct material, direct labor, manufacturing overhead, period costs)
    Fixed & Variable cost designation is provided
    VARIABLE & FIXED COSTS
    Determine your per unit cost per dog for grooming, day care and boarding
    OPERATIONAL & COST INFORMATION:
    For simplicity, base all calculations using 30 days in each month
    OPERATIONAL DATA
    Grooming:
    The Groomer can groom 5 dogs a day, 5 days a week
    Each grooming takes 1.5 labor hours
    Day Care:
    The Day Care can house 10 large dogs and 12 small dogs daily.
    Day Care is offered 6 days a week
    Boarding:
    There are 12 kennels (single dog only).
    Boarding (kennel services) is offered every day
    Facilities:
    The Grooming facility is 200 square feet
    The Boarding facility is 2,500 square feet
    The Day Care facility is 1,500 square feet
    General:
    Loan for start-up costs - monthly payment of $420; in effect immediately; limited cash and loan funding - used angel investors
    Modest monthly draw of $600 a month for first year; should be divided evenly amoung the services (grooming, day care, boarding)
    SALARY & HIRING DATA
    Groomer (Allison) - $12.00 an hour, 40 hours a week
    Day Care Attendant (Beverly) - $9.00 per hour, based on need
    Receptionist (Cathie) - $8.50 per hour, 30 hours a week
    Kennel Attendant (Ben) - $11.50 per hour, based on need
    OTHER COST DATA
    Grooming:
    Dog Grooming Arm - $300                .
    Grooming Table - $900
    Grooming Tub - $2,800
    Clippers - $136.99; can be used for 100 grooms
    Shampoo - $103.96 per 5-gallon pail; can be used for 100 grooms
    Salon Tuff Capri Mobile Ca
y Cart - $90
    Scissors (7 inch straight) - $194.99; used for 200 grooms                                    0
    Scissors (ear and nose) - $7.49; used for 200 grooms
    Day Care:
    Fencing for Day Care area - $1,249
    Fencing Installation - $1,000
    Toys - $3.29 per 6 pack; one toy will last for two dogs in day care per day
    Ru
erized Flooring for Day Care - $3,800
    Boarding:
    12 Kennels; Depreciation is $80 per month
    General:
    Food & Water bowls - $3.59 per unit
    Day Care - two bowls last for every 75 dogs that attend daycare
    Boarding - two bowls last for every 100 dogs boarded; two bowls per kennel
    Grooming - each bowl lasts for 20 grooms and you need 4 bowls at all times
    Towels - $34.99 per 12 pack
    Day Care - 12 towels for every 25 dogs
    Boarding - 12 towels for every 40 dogs
    Grooming - 2 towels for every groom per day
    Heating System - $10,000; Depreciation is $83 per month; Allocate based on square footage
    Rent - $650 per month; Allocate...
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