1,500–1,750 words (not including title or reference pages) Reminder: Initial Discussion Board posts due by Wednesday Assignment As EEC's corporate business financial analyst, you will need to have a clear understanding of the different types of costs (variable, fixed, and mixed) that the company carries. Complete the following for this assignment: Review EEC's journal activity. Define and identify its variable, fixed, and mixed costs. Determine what affect a sales volume increase or decrease will have on unit fixed cost, unit variable cost, total fixed cost, and total variable cost. Attached is EEC's journal activity. In your own words, please post a response to the Discussion Board and comment on other postings. You will be graded on the quality of your postings. Phase 2 - Task 2 Task Type: Individual Project Deliverable Length: 1,750–2,000 words (not including title and reference pages) Weekly tasks or assignments (Individual or Group Projects) will be due by Saturday and late submissions will be assigned a late penalty in accordance with the late penalty policy found in the syllabus. NOTE: All submission posting times are based on midnight Central Time. EEC has introduced a new 1.5 gigabyte (GB) computer memory chip. Should EEC use a job-order costing system, which is a costing system where costs are collected and assigned to units of production for each individual job, or a process costing system, which is a costing system that accumulates production costs by process or department for a given period of time, to report the costs of this new product? How are the systems different? Describe how the selected system would work to track the costs of the product. Identify the cost driver, and explain the process of tracking the costs. Provide examples of products that EEC might offer for which a job-order costing system would be appropriate. Provide examples of products that EEC might offer for which a process costing system would be appropriate. Please submit your assignment. Phase 2 - Task 3 Task Type: Group Project Deliverable Length: See assignment details Due Date: 12/10/2013 11:59:59 PM Weekly tasks or assignments (Individual or Group Projects) will be due by Monday and late submissions will be assigned a late penalty in accordance with the late penalty policy found in the syllabus. NOTE: All submission posting times are based on midnight Central Time. EEC currently uses a basic standard cost system. Management knows very little about other concepts of costing and the benefits of having multiple costing methods. Your superior has asked that you and your team put together a presentation to management explaining various costing concepts as they relate to EEC (explain the usage and benefits of each). Individual Portion (1,750–2,000 words) As an EEC corporate business financial analyst, you must have an expert understanding of the various costing methods. Within your groups, divide the costing concepts among the individual team members to analyze and become an expert in at least 1 costing concept within your group. Then, write a paper to include the following: The definition of the concept How and when the concept could be used by EEC How the application of the concept differs from the other concepts Its advantages and disadvantages as they relate to EEC Choose from the following costing concepts: Full costing/absorption costing Variable costing Target costing Life-cycle costing Activity-based costing Please add your file. Group Project (12–15 slides) Based on the information in the Individual Project, put together a slide presentation to management that includes a summary of your research for each costing concept. Include the following: The definition of each costing concept Where and how EEC could apply each concept The benefit EEC could gain from using each of these costing methods This presentation should provide recommendations to management on implementing multiple costing methods. For more information on creating PowerPoint Presentations, please visit the PowerPoint Guide in the Student Success Learning Lab. Please add your file.
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