ACCT 220 Management Cost Accounting 1 Assignment- Camosun College
You have been hired as a managerial accountant by Mr. Smith of Wilson-West Manufacturing, a start-up company that produces several different product lines. He would like you to set up the cost accounting system for the cabinet division. Listed below are your new job requirements and at least 1 task for each.
Compile a document or 1200 to 1500 words with the following requirements:
I. Types of costs
a. Explain what types of costs you plan on using to distinguish the different types of cabinets that will be produced.
i. Examples should include direct costs items, indirect costs items, as well as variable costing.
b. What are at least 5 types of expenses that are associated with manufacturing the cabinets?
II. Cost accounting methods
a. Explain how product costing is used for a cabinet division.
b. Give 2 examples of how you will use product costing.
c. Which costing method will you use for the cabinet division: Activity-based costing (ABC), job order costing, or process costing?
d. Validate your answer with 2-3 reasons for and 2-3 reasons against the other types of costing.
Format your assignment according to the give formatting requirements:
• The answer must be using Times New Roman font (size 12), double spaced, typed, with one-inch margins on all sides.
• The response also includes a cover page containing the student's name, the title of the assignment, the course title, and the date. The cover page is not included in the required page length.
• Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.