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Product Description
Overview: Classifying a company’ s costs allows for an in-depth analysis of the impact that changes in output have on revenues, costs, and net income or net loss. A cost-volume-profit analysis will be completed in order to determine the breakeven point. Relevant costs will be used to prepare a flexible budget. Additionally, an appropriate costing system should be selected and the choice should be substantiated with reasonable rationale. Finally, a memo should be prepared for management that summarizes the results of the quantitative analysis and makes recommendations for an optimal costing system to be ethically used by key decision makers.
For Milestone Two, you will analyze the budget and actual costs using the MDE Manufacturing Budget( Tables I, II, III, IV). Determine where variances occurred and why. Submit the Student Workbook with Tabs 3 and 4 completed with your budgets / variances and a 1 – 2 page Word document that discusses the implications of your findings on MDE’ s financial considerations. Explain which aspects of MDE’ s budgeting process are in need of improvement and justify your response using your calculations. Address all critical elements listed below in Section II. Use Tabs 5 and 6 of the Student Workbook for your budget and variance calculations.
Specifically, the following critical elements must be addressed:
II. Prepare and Perform