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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
a ) What are your fixed costs ? Segregate them in the budget model .