cost accounting

I want to solve only part 2… plzzz i want it ful…

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August 2012 I STRATEGIC FINANCE 47 By David Axelsson, Marcus Fogelkvist, and Gary M. Cunningham, CPA Kay Smith is frustrated. The manager of Strategic Marketing Unit Two (SMU2) for Fine Foods, Inc., a provider of branded high quality food products, Smith is unhappy with what she perceives to be unfair and inappropriate product costing for her unit, especially for what Fine Foods considers to be special orders. Smith’s education, experience, and expertise as a food scientist and process engineer have earned her considerable respect at Fine Foods, but she has limited accounting knowledge. This lack of accounting knowledge has inhibited her ability to express and demonstrate her concerns, which she views as serious. Believing she is a fast learner with proper guidance, Smith has hired you, a recent accounting graduate, to develop a draft memorandum, a slide presentation, and a glossary of terms to help her make her case more forcefully to management. Fine Foods, Inc. Fine Foods, Inc., which has its roots in the upper Midwest United States, produces a wide range of food products in a competitive industry. Almost all its products are sold under the Fine ’n’ Fast brand name, which is widely recognized for its high quality and has a loyal customer following.Most products are packaged in sizes for end consumption and are sold through supermarkets, convenience shops, and similar outlets. Depending on the nature of the product and consumer preferences, products are sold frozen, refrigerated, canned, boxed, or packaged in other ways. Some items, like small individual packets of ketchup, mayonnaise, and mustard, are sold to fast food restaurants and similar outlets. The company also sells half-gallon containers of salad dressings, ketchup, mustard, and similar items with a plastic pump 2013 STUDENT CASE COMPETITION The Student Case Competition is sponsored annually by IMA® to provide an opportunity for students to interpret, analyze, evaluate, synthesize, and communicate a…

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