29 Jun Question ACC 302 Final Project
Question
ACC 302 Final Project
Project Orientation and Overview
Every year at the state fair your parents have run a pretzel booth. Over the years you have experimented with new pretzel
recipes, and many have been successfully incorporated into the selection of pretzels now offered each year at the state
fair.
Your parents are ready to retire and turn the business over in your name. You want to capitalize on your parents’ success
and expand by offering pretzels at a store location. In order to expand, you will need to secure a bank loan to cover
expansion costs and overhead. To consider your proposal, the banker will want to see a business plan, specifically a
master budget.
Your task for this final project is to prepare and present all the necessary documents so that you can ask for that loan.
This task is broken down into four parts:
? Part 1: Mission Statement and Partial Business Plan, due at the end of Week Five
? Part 2: Budgets, Financial Statements, and Analysis, due at the end of Week Six
? Part 3: Complete Business Plan and Cover Letter, due at the end of Week Seven
? Part 3: Business Plan Presentation, due on Day 1 of Week Eight
Part 1 – Mission Statement and Partial Business Plan, due Week Five
? Review the following chapters:
o Chapter 18: The Changing Business Environment: A Manager’s Perspective
o Chapter 19: Cost Concepts and Cost Allocation
o Chapter 23: Cost Behavior Analysis
? Complete the Mission Statement Template Handout to record information about your pretzel company, its mission,
and its featured product.
? Use the tables and information in Exhibit 1 on the next page to calculate the costs of running your business and to
complete the short answer section of the Mission Statement Template Handout.
o Calculate total variable costs per dozen pretzels.
o Calculate sales price per dozen pretzels using 120% markup on variable costs.
o Calculate contribution margin per dozen pretzels.
o Calculate breakeven point for the quarter (three months) in dollars and units.
? Submit the completed Mission Statement Template Handout to “My Assignments” in My West.
Exhibit 1:
Cost of Goods
If your pretzel recipe has ingredients that are not included here, simply consider them part of your overhead expenses.
Direct Materials Unit Unit Cost
Flour (any kind) per cup $ 0.15
Sugar (any kind) per cup $ 0.15
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