Coursework Assignment Brief launching a product - Free Essay Example

Sample details Pages: 4 Words: 1204 Downloads: 3 Date added: 2017/06/26 Category Marketing Essay Did you like this example? Coursework Assignment Brief Format: Report Presentation: No Any special requirements: All work should be submitted on the Student Portal along with an acceptable Turnitin Report. Report and spreadsheet templates will be provided and must be used. Word Limit: Eg: 1,500 words (with 10% plus or minus) Deadline date for submission: 10th November 2014 Learning outcomes to be examined in this assessment Indicate the main purposes of management accounting and its relevance to the management of organisations. Choose a cost structure and apply it to the organisation strategy. Calculate break even, profitability and produce a forecast model for the organisation. Percentage of marks awarded for module: This assignment is worth 50% of the total marks for the module Assessment criteria Explanatory comments on the assessment criteria Maximum marks for each section Content, style, relevance, originality Clear demonstration of rigorous research from recognised authoritative sources. Audience focus. 10 % Format, referencing, bibliography Harvard 5% Constructive critical analysis, introduction, conclusion Demonstration of a clear understanding of the issues. Use of academic models. 85% Candidates must clearly label their ID Number on additional separate reference, formula or answer sheets. ASSIGNMENT BRIEF Section ABusiness Report50% weighting: Your assignment requires you to form a group of 2 (two) students and provide a formal business report max 1,500 words, to your Bank Manager regarding the launch of a new business manufacturing a product (choose from the list in Section D). The word count excludes your appendices. You must include within the appendices the supporting business documentation requested below. Marks will be awarded evenly to both students. Don’t waste time! Our writers will create an original "Coursework Assignment Brief: launching a product" essay for you Create order Prepare a standard REPORT using correct headings, paragraphs, sub-headings etc and correct referencing. Marks 5% Introduce your business and your idea to the bank manager and ensure you state how much you intend to borrow and how you intend to make repayments. State what product you intend to sell based on the ingredients supplied in the assignment brief (section D). State the cost price to produce it and its intended selling price. (max 250 words), Marks 5% Explain in your own words the cost structure of your product (using the actual calculations to support your answer) and also provide an explanation regarding which method of pricing you used to arrive at the target selling price and the underlying assumptions to support your figures for breakeven point. Further to this you must explain your figures in your operational budget (and mention your seasonality and demand) and cash budget especially highlighting the credit terms affecting the difference between the two. Use appropriate headings to separate out the various requirements. (max 850 words). (NOTE: as part of this section, you will need to decide which of the costs given are fixed and which are variable and include the figures you calculated in your appendices) Marks 20% Provide a suitable summary of the business report by analysing (commenting on) the figures from your calculations particularly the profit results and whether the product is worthwhile producing based on the figures. (max 250 words). Marks 10% Finally, what are the implications of producing management accounts in such detail(purpose and use of the management accounting information) à ¢Ã¢â€š ¬Ã¢â‚¬Å" include after the conclusion of the report Marks 5% Marks will be awarded for general presentation à ¢Ã¢â€š ¬Ã¢â‚¬Å" bibliography using the Harvard Referencing System Marks 5% Section B Appendices to the Business Report:50% weighting Produce a à ¢Ã¢â€š ¬Ã‹Å"Standard Cost Cardà ¢Ã¢â€š ¬Ã¢â€ž ¢ showing the main costs groups involved and linked to the target selling price. Marks 10% Calculate a breakeven point (show the workings here). Marks 5% Prepare a One (1) Year Operational Budget (per month) based on your cost structure and production/sales pattern. Marks 20% Prepare a One (1) Year Cash Budget (per month) using the operational budget and credit terms to assist you. Ensure you use the credit terms provided in section D. Marks 10% Prepare a One (1) Year Budgeted Income Statement (totals only) using marginal costing principles (ignore taxation and interest costs) Marks 5% Section A B (the full business report)Total Marks 100% Section C Guidance: Your final submitted report and appendix is to be submitted using the student portal. It should clearly show both student numbers only (no names) and no later than: 10th November 2014 AT 12 Midnight SHARP. Late submissions will be capped at 40% of your total marks for this section. Any extenuating circumstances should follow proper procedures. Marks will be returned via the student portal within two weeks of the deadline. Use the spreadsheets provided to prepare your Appendices howeverTurn-it-In only allows you to submit Word documents, so any calculations you make in Excel must be copied/pasted into the Word document before submitting. Section D DATA FOR YOUR BUSINESS: From the data below, chose your business type, the product, market demand. The product you chose will determine whether its ingredients (materials A TO I and parts A TO B) will be in grams, kgs, metres or litres. You ca n chose a mixture of materials and components à ¢Ã¢â€š ¬Ã¢â‚¬Å" but be realistic à ¢Ã¢â€š ¬Ã¢â‚¬Å" examples will be provided during the lessons and on the blackboard portal. Also, choose the labour production costs from the different rates provided and then finally choose which overheads your business will incur. Choose which costs to include in the cost price of your product and then work out the selling price. Remember the different possibilities for the inclusion of the cost of a product. You must use the information provided below: it is the same as using the market research data which you would normally conduct prior to creating a business plan. The data is provided for you to remove the need for you to research this information. Type of BusinessType of Products ManufacturerProduce a Childà ¢Ã¢â€š ¬Ã¢â€ž ¢s Toy (any TOY item) CarpenterFurniture (table, chair, office desk etc) MarketLocal (state the area), City, National, and Inter-national Demand100/m onth; 1,000/month; 2,500/month; 13,000/month SeasonalityYou may include seasonal variations for the first yearà ¢Ã¢â€š ¬Ã¢â€ž ¢s operational budget if you desire (be sure to mention this in your report) Credit TermsCustomers 1 month Suppliers of Materials and components 2 months Labour (all) 0 month Factory Overheads 1 month Office Overheads 2 month Note: Credit terms determines when the cash will be exchanged à ¢Ã¢â€š ¬Ã¢â‚¬Å" which is not always the same as when the activity takes place Loan Amount TermsBorrow as much as needed according to your total costs for the year plus 30% at a rate of 7% p.a. interest and payable within 3 years. Do include this cost in your Income Statement and Cash and Operational Budgets Ingredients (materials)Wages (production staff) A [emailprotected]  £0.75/gram1 hr @  £6.50/hr B [emailprotected]  £4.50/gram1 hr @  £17.25/hr C 1 kg @  £1.50/kg1 hr @  £35/hr D 2 kg @  £11.00/kg E [emailprotected]  £5.00/metre F [emailprotected]  £16.00/metreOverheads G [emailprotected]  £0.35/mlFactory Rent £30,000 p.a. H 2 litres @  £1.25/litreMachinery maintenance  £1,900 p.a. I 4 litres @  £1.85/litreFactory maintenance £1,800 p.a. Factory utilities £3,700 p.a. Administration (Staff) £35,000 p.a. components (material parts)Office Expenses £12,500 p.a. A @  £0.25/componentAdvertising costs £18,500 p.a. B @  £1.75/componentSales Staff £15,000 p.a. Office Rent £12,500 p.a. Note: There are NO fixed assets à ¢Ã¢â€š ¬Ã¢â‚¬Å" capital expenditure Note: The amount of materials and labour your require can be in multiples or divisions of the quantities provided above. Scale the Overheads to suit your business The Overheads can also be multiples or divisions of the figures provided e.g. if you are operating in a very small shop/factory your costs will be a portion of the figures provided à ¢Ã¢â€š ¬Ã¢â‚¬Å" you can decide what portion suits you à ¢Ã¢â€š ¬Ã¢â‚¬Å" but DO MENTION THIS IN YOUR REPORT.