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Create an imaginary company that manufactures hats. Keep it a simple product. Don't pick something...

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Accounting

Create an imaginary company that manufactures hats.

Keep it a simple product. Don't pick something with many parts.

You will be describing the making and selling of the product.

image.
1 List all the manufacturing costs? DM, DL Overhead 2 What are the fixed costs? 3 Variable costs? 4 List the non-manufacturing costs period costs? For example - selling costs, rent, salaries (incl your own) 5 Determine if you should use job costing or process costing 6 Calculate a cost of goods manufactured - inventory plan 7 Determine a price to sell for using cost price volume 8 Determine breakeven sales numbers 9 Create a contribution margin income statement CVP 10 Put together a 12 month or 4 quarter budget with all the schedules Sales budget, production, materials, labor ESPECIALLY Income Statement 11 Create a summary of what the product is, how you make it, how you sell it, what you charge for it, what the competition is, and if your budget shows you are going to make money l am a potential investor. Convince me to invest in your company Make up all numbers for costs and prices but try to keep them reasonable

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