Overview Companies choose their costing method based on their business

 

Overview

Companies choose their costing method based on their business activities and processes, as well as the products and services they offer. A company can be a manufacturing, merchandising, or service organization; this also impacts which costing method will be most useful for its purposes. As a part of costing, the company also needs to decide how to classify overhead costs using either traditional or activity-based costing (ABC).

In this written assignment, you will choose a company, consider its business and costing requirements, and recommend a costing system that will work best for the business.

Prompt

Think about a company you know. This could be a current or past employer or a company you admire. Consider its business activities and the type of products and services offered. Based on what you have learned so far, write a short paper that reflects on the different costing methods and speculates on how they might apply to your selected company.

Specifically, you must address the following rubric criteria:

  • Company Overview: Identify the company you selected and provide a brief overview of its business.
    • Is it a manufacturing, merchandising, or service organization?
  • Costing Methods: Compare the job order and process costing methods, and explain how each of these can be applied to the company.
    • How could the costs differ if one method is chosen over the other?
  • Factory Overhead: Outline possible indirect or overhead costs the company may need to account for, and identify the type of costing the company might use for these costs.
    • If the company decides to use activity-based costing (ABC), what are some activity bases (cost drivers) it might use to allocate these costs?
  • Recommendation: Based on your analysis, recommend a costing method for the company, and explain why you think this method will work best for the business.

Guidelines for Submission

Submit your assignment as a 2- to 4-page Word document. Sources should be cited according to APA style.

Share This Post

Email
WhatsApp
Facebook
Twitter
LinkedIn
Pinterest
Reddit

Order a Similar Paper and get 15% Discount on your First Order

Related Questions

This will enable you to understanding the extent to which

This will enable you to understanding the extent to which social media companies have permeated into the lives of citizens, and the commodification of personal data of users of social media platforms. American pride themselves of their privacy and freedom. But to anyone who is conscious of the advancements in

Develop a 3 page workplace harassment policy for either Java

Develop a 3 page workplace harassment policy for either Java Corp or an organization with which you are familiar. Be sure the policy you develop reflects ethical considerations and benefits to both the employee and organization as well as relevant legislation related to various types of harassment. Also, create an

Describe: Summarize the major aspects of the chapter and write

Describe: Summarize the major aspects of the chapter and write about the significance of the chapter. Consider if the chapter is in alignment with your prior knowledge of African American children’s development. If so, please highlight this correlation. Next, highlight at least two direct quotes from the chapter.  Direct Quote

Discussion Requirements Please ensure that your discussion is well formulated

Discussion Requirements Please ensure that your discussion is well formulated correctly with proper grammar. Please check spell and grammar check your post before submission.  All discussion posts should be no less than 500 words.  Although your opinion is valuable, your response should include factual information supported by the literature in

Write a summary of what you understand of the 5

Write a summary of what you understand of the 5 Suggestions for Redemptive Use of Language – intelligible, worthy, etc (1/2 page), Give an analysis and discuss what you understand from them by connecting 2 of the 5 to a topical and/or news event, eg. Jack Ma resurfacing, Ms Amanda

Demonstrate the skills you have learned in this class as

Demonstrate the skills you have learned in this class as you strive to manifest the ability to arrive at conclusions based upon a fair-minded analysis of the best reasoning on both sides of issues. This includes presenting and evaluating the best arguments on each side, followed by a presentation of

You will write a short reflection report describing the key

  You will write a short reflection report describing the key learning from the course and future trends in IT. This report will be organized as follows: 1.       Description – Describe up to 3 key learning points from the course. 2.       Analysis – Connect the learnings described in the previous

Choose a pair of related aquatic and terrestrial ecosystems to

Choose a pair of related aquatic and terrestrial ecosystems to research. Your choices must meet the following criteria: The aquatic and terrestrial ecosystems must be closely associated. For example, a fen (aquatic) in an alpine meadow or forest (terrestrial), an islet (terrestrial) in a marine bay (aquatic), or a river system

Due 6pm Chicago Time Topic: Patient family-centered care: The manager

Due 6pm Chicago Time  Topic: Patient family-centered care: The manager of a medical-surgical unit has experienced a significant drop in patient satisfaction with the primary complaint being a lack of communication to patients and their family members. Your task is to propose a move toward a patient family-centered care environment

My stance: yes, animal testing is ethical, the theory of ethics to

My stance: yes, animal testing is ethical, the theory of ethics to support this is act utilitarianism. Instructions: write a paper about animal testing in APA style with sources and citations. Must have introduction, both sides of the argument (pros and cons) with evidence. 3 body paragraphs. The last body

During the Classical Period audiences were accustomed to music with

During the Classical Period audiences were accustomed to music with elaborate musical forms, such as sonata form, theme and variations form, and concerto form. Historical documents suggest that when they listened to music they listened for its form.  When you listen to music composed in the last 50 years, do

9-1 Subsistence Best Practices Shannon Fagan posted Aug 4, 2022

9-1 Subsistence Best Practices Shannon Fagan posted Aug 4, 2022 8:41 PM In this activity, evaluate the policy that you analyzed for your final project using the U.S. Government Accountability Office’s (GAO) best practices and leading practices in collaboration. Provide a high-level overview of how you think the policy that

Instructions This assignment focuses on demand, supply, and equilibrium. Let’s

Instructions This assignment focuses on demand, supply, and equilibrium. Let’s start with the basics. Begin your assignment by providing the following information. Explain the difference between a movement along demand and supply curves and a shift of demand and supply curves. What can cause the above situations? Provide an example

Health & Medical Question Nursing Assignment Help

create a presentation that reflects on your proposed problem of interest and explains the purpose of a literature review as it relates to this problem. Step 1: Reflect on your proposed problem of interest. Critically think about your research question or problem of interest. Step 2: Consider the following questions:

For our first discussion, discuss globalization and decision-making. You all

  For our first discussion, discuss globalization and decision-making. You all have some ideas of how globalization has affected your life, so let’s expand on that and discuss: How has globalization affected different world regions?  What are some of the benefits and costs of globalization for different sectors of society

Option 2: A new social media app is offering itself

  Option 2:  A new social media app is offering itself to you for free. If you upload a picture to it, the app will show how you will look at 10 years. John Doe, a friend of yours, says not to use the app as it will then possess

Human Resource Management: Boston Consulting Group’s global HR

Boston Consulting Group, Inc. (BCG) is an American multinational management consulting firm with more than 90 offices in 50 countries. In this research paper, you should focus on the global HR structure at the BCG. The paper should be five pages long (the body itself). You should also make the