Hello, I need assistance with an explanation and answer for the following Cost Accounting Project additionally, below is feedback provided from instructor from previous presentation to enhance on, please make this response aligned with the feedback provided
Your presentation was professional, timely, and clearly organized. The grading was based on the following:
- the company had purchased all of its materials from the online marketplace, what inventory cost would be shown for all materials on hand based on the average transaction price?
- Is that value higher or lower than the value of all materials if using their standard price?
- If the company can freely choose the lower of the standard price or the average price in the online marketplace, what is the lowest possible inventory cost of all materials on hand?
4. Is there a particular marketplace vendor that always sells at a price lower than the standard price.
You lost points on the Bongo presentation, as your communications could have been clearer and would have improved your presentation.
You needed more depth on the marketplace for the CFO, as that was a major requirement.
I would like to see citations and more research to support your work.
Company management should evaluate the standard costs in relationship to the quality and grading of the raw materials:
Below is the assisgnment I need assistance on:
ACC 311 Project One Guidelines and RubricCompetency
In this project, you will demonstrate your mastery of the following competency:
- Analyze cost data to inform business operations and strategic decisions
- Communicate cost data and analysis information to internal stakeholders
Overview
Cost accounting is focused on assisting the organization in making better operational decisions. One important decision revolves around exploring options to allow the organization to achieve desired sales and profit levels. In this project, you will take the role of a cost accountant assisting a client with evaluation options to achieve a target profit. You will also help the client with various strategies to achieve that target profit, as well as help the client determine whether or not to accept a special order.
Directions
Your completed project will consist of the following three deliverables:
Project One Workbook Complete the Project One Workbook Template found in the What to Submit section. It includes all calculations to be completed for the proposed scenarios for the client, which can be found in Project One Case Study linked in the Supporting Materials section. The template will aid you in preparing the financial report for the stakeholders represented in the case study.
Stakeholder Presentation Template and Recorded Narration Once you have completed all necessary research for the client, you will need to prepare a presentation for the stakeholders represented in the case study using the Project One Presentation Template found in the What to Submit section. Review the Speaker Notes for each slide, they contain guiding information on what should be included on each slide. It will need to be organized and formatted based on the needs of the stakeholders. This should be a polished presentation with all key information including basic visualizations. You may include speaker notes; however, this is optional.
High-Level Takeaway Document Prepare a one-page document that is a high-level overview of the presentation geared towards the stakeholders. This is common practice to have a document for stakeholders to review once a presentation is complete. It will allow them to reference key points and critical information from the presentation to make their decision.
Specifically, you must address the following rubric criteria:
Project One Workbook
- Prepare an accurate contribution margin income statement based on breakeven using correct Excel formulas.
- Perform a cost volume profit analysis for all scenarios using correct Excel formulas. There are five scenarios. Include the following details in your response:
- Calculate the effects on costs and sales volume for each scenario.
- Prepare an accurate contribution margin income statement for each scenario.
- Calculate the after-tax effect of each proposed scenario.
- Determine the effect of the price increase based on the market for all scenarios using correct Excel formulas. Include the following details in your response:
- Calculate the after-tax effect on sales for each scenario.
- Prepare a contribution margin income statement for each scenario.
- Evaluate a special-order option using correct Excel formulas. Include the following details in your response:
- Calculate accurately the after-tax profitability of the special order.
- Prepare an accurate contribution margin income statement for the company if the special order is accepted.
Stakeholder Presentation
- Explain the key points to communicate to the stakeholders. Include the following details in your response:
- Summarize the company’s request.
- Explain the benefits and advantages to the company for each scenario.
- Explain the disadvantages to the company for each scenario.
- Present the best possible recommendation(s) for the company moving forward based on cost data analysis. Include the following details in your response:
- Determine which scenario is the best for Lorenzo's company.
- Determine if Lorenzo should accept the special order.
- Provide your rationale.
- Explain the potential impact of decisions on business and workforce relationships. Include the following details in your response:
- Explain the potential effects of going from a salary to commission-based salesforce.
- Explain the potential effects of downgrading the quality of supplies for customers’ orders in the short and long term.
- Explain how a potential price increase might affect customers short and long term.
- Utilize effective basic visualizations that support your rationale.
- Create a simple, neat, and clearly articulated presentation with narration for the needs of the stakeholders.
High-Level Takeaway Document
- Create a one-page high-level takeaway document for the stakeholders that is easy to follow.
If you need writing support, access the Academic Support module of your course.
What to Submit
To complete this project, you must submit the following:
Project One Workbook Template Submit the Project One Workbook Template with all tabs completed.
Project One Presentation Template and Recorded Narration Submit the Project One Presentation Template with all the required headings. Sources should be cited according to APA style. Submit your 8- to 15-minute recorded presentation with narration using Bongo. Upload your recorded presentation to Brightspace.
Note: If you are not able to record a video, you should reach out to your instructor and discuss submitting the assignment in an alternative format.
High-Level Takeaway Document Submit your high-level takeaway document for the client as a 1-page Microsoft Word document with double spacing, 12-point Times New Roman font, and one-inch margins. Sources should be cited according to APA style.
Supporting Materials
The following resource(s) may help support your work on the project:
Case Study: Project One Scenario This document contains all information related to the proposed scenarios for the client.
Website: How To – Record and Submit an Individual Assignment in Bongo This SNHU Knowledge Base resource provides information related to recording and submitting your video in Bongo.
Website: How To – Upload and Submit an Individual Assignment in Bongo This SNHU Knowledge Base resource provides information related to uploading and submitting a video in Bongo.
Website: How To – Create Captions in Bongo This SNHU Knowledge Base resource provides information related to adding captions to Bongo videos.
Project One Rubric
| Criteria | Exceeds Expectations | Meets Expectations | Partially Meets Expectations | Does Not Meet Expectations | Value |
|---|---|---|---|---|---|
| Project One Workbook: Contribution Margin Income Statement | N/A | Prepares an accurate contribution margin income statement based on breakeven using the correct Excel formulas (100%) | Shows progress toward meeting expectations, but with errors or omissions; areas for improvement may include better accuracy in calculations for the contribution margin income statement based on breakeven using correct Excel formulas (75%) | Does not attempt criterion (0%) | 5 |
| Project One Workbook: Cost Volume Profit Analysis | N/A | Performs a cost volume profit analysis for all scenarios using the correct Excel formulas (100%) | Shows progress toward meeting expectations, but with errors or omissions; areas for improvement may include better accuracy in calculations of cost volume profit analysis for all scenarios using correct Excel formulas (75%) | Does not attempt criterion (0%) | 10 |
| Project One Workbook: Price Increase | N/A | Determines the effect of the price increase based on the market using the correct Excel formulas (100%) | Shows progress toward meeting expectations, but with errors or omissions; areas for improvement may include additional details or clarification on the effect of the price increase based on the market using correct Excel formulas (75%) | Does not attempt criterion (0%) | 10 |
| Project One Workbook: Special Order | N/A | Evaluates a special-order option using the correct Excel formulas (100%) | Shows progress toward meeting expectations, but with errors or omissions; areas for improvement may include better accuracy in calculations for the special-order option using correct Excel formulas (75%) | Does not attempt criterion (0%) | 10 |
| Stakeholder Presentation: Key Points | Exceeds expectations in an exceptionally clear and insightful manner (100%) | Identifies effectively key points to communicate to the stakeholders (85%) | Shows progress toward meeting expectations, but with errors or omissions; areas for improvement may include additional details or clarification on the effective key points to communicate to the stakeholders (55%) | Does not attempt criterion (0%) | 10 |
| Stakeholder Presentation: Recommendations | Exceeds expectations in an exceptionally clear and insightful manner (100%) | Presents the best possible recommendation(s) for the company moving forward based on cost data analysis (85%) | Shows progress toward meeting expectations, but with errors or omissions; areas for improvement may include additional details or clarification on the best recommendation(s) for the company moving forward based on analysis (55%) | Does not attempt criterion (0%) | 10 |
| Stakeholder Presentation: Potential Impact | Exceeds expectations in an exceptionally clear and insightful manner (100%) | Explains the potential impact of decisions on business and workforce relationships (85%) | Shows progress toward meeting expectations, but with errors or omissions; areas for improvement may include additional details or clarification on the potential impact of decisions on business and workforce relationships (55%) | Does not attempt criterion (0%) | 5 |
| Stakeholder Presentation: Basic Visualizations | Exceeds expectations in an exceptionally clear and insightful manner (100%) | Utilizes effective basic visualizations that support your rationale (85%) | Shows progress toward meeting expectations, but with errors or omissions; areas for improvement may include additional details or clarification on the effective basic visualizations that support your rationale (55%) | Does not attempt criterion (0%) | 10 |
| Stakeholders Presentation: Simple, Neat, and Clearly Articulated | Exceeds expectations in an exceptionally clear and insightful manner (100%) | Creates a simple, neat, and clearly articulated presentation with narration for the needs of the stakeholders (85%) | Shows progress toward meeting expectations, but with errors or omissions; areas for improvement may include simplifying the slides and/or revising the information for the stakeholders (55%) | Does not attempt criterion (0%) | 10 |
| High-Level Takeaway Document | Exceeds expectations in an exceptionally clear and insightful manner (100%) | Creates a one-page high-level takeaway document for the stakeholders that is easy to follow (85%) | Shows progress toward meeting expectations, but with errors or omissions; areas for improvement may include additional details or clarification on the one-page high-level takeaway document for the stakeholders (55%) | Does not attempt criterion (0%) | 10 |
| Clear Communication | Exceeds expectations with an intentional use of language that promotes a thorough understanding (100%) | Consistently and effectively communicates in an organized way to a specific audience (85%) | Shows progress toward meeting expectations, but communication is inconsistent or ineffective in a way that negatively impacts understanding (55%) | Shows no evidence of consistent, effective, or organized communication (0%) | 5 |
| Citations and Attributions | Uses citations for ideas requiring attribution, with few or no minor errors (100%) | Uses citations for ideas requiring attribution, with consistent minor errors (85%) | Uses citations for ideas requiring attribution, with major errors (55%) | Does not use citations for ideas requiring attribution (0%) | 5 |
| Total: | 100% |