Assessment 1: Cost Analysis

Complete problems to calculate, classify, and compute manufacturing costs.

Introduction

Note: Accounting requires specific steps that need to be executed in a sequence. The assessments in this course are presented in sequence and must be completed in order.

A cost analysis can help management determine whether or not to go ahead with a project.

Instructions

Note: Accounting requires specific steps that need to be executed in a sequence. The assessments in this course are presented in sequence and must be completed in order.

Use the Cost Analysis Template [XLSX] to complete this assessment. Based on the data provided in the template, complete the problems to calculate, classify, and compute manufacturing costs.

Competencies Measured

By successfully completing this assessment, you will demonstrate your proficiency in the course competencies through the following assessment scoring guide criteria:

Competency 1: Analyze cost accounting systems.

Classify business costs as variable or fixed.

Classify business costs as product or period costs.

Competency 2: Apply sound budgeting principles.

Compute manufacturing cost.

Competency 5: Communicate in a manner that is professional and consistent with expectations for professionals in the field of accounting.

Communicate quantitative information accurately and effectively.