Loading...

Messages

Proposals

Stuck in your homework and missing deadline? Get urgent help in $10/Page with 24 hours deadline

Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.

Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

Wrigley company process costing

16/11/2020 Client: papadok01 Deadline: 24 Hours

Running head: COST FLOWS IN AN ORGANIZATION 1

5

COST FLOWS IN AN ORGANIZATION

Cost Flows in an Organization

Name

Instructor

Course

Date

Cost Flows in an Organization

Company Description

The Wrigley Company operates in the manufacturing industry. Wrigley produces chewing gums that are sold throughout the world. The company owns 14 factories located in different countries. Each factory implements six distinct manufacturing processes in the production of gum. I am a divisional manager at the manufacturing department in one of the factories. The main role of a divisional manager is to oversee the implementation of the six manufacturing processes. The first process is known as melting, and it involves melting the gum base. After that, the mixing process is conducted, where the gum base is mixed with sweeteners and flavors. The third process is known as rolling, and it entails reducing gum thickness to the appropriate size. The scoring process is then implemented, and the gum is cut into the desired shape. After that, the gum undergoes the conditioning process that entails cooling it to ensure consistency. The last process involves packaging the gum and preparing it for shipping to different regions (Heisinger, 2009).

Cost Accounting Process Used

Wrigley’s Company would use process costing as it attributes costs to each process of production. This way, the management would be able to analyze resource utilization in each process, which would result in specific strategies to improve performance in each process. The process costing system is a technique in cost accounting that collects and assigns manufacturing costs to the units produced. The process costing method is applied when the products are identical in nature (Fisher & Krumwiede, 2015). In the manufacturing process, products may pass through different processing operations, each occurring within a different organization. The process costing system attributes costs to each process by taking the total cost of production and averaging it over the units of production to get the cost per unit.

Manufacturing Costs involved in Production

There are various costs incurred in the manufacture or Wrigley gums, and they are categorized into direct materials, direct labor, and manufacturing overhead. Direct materials costs are incurred in the mixing, rolling, and packaging department, and they comprise of the raw materials used in the creation of the product. They include the cost of gum base, sweeteners, flavors, conditioners, and packaging materials. Direct labor costs refer to specific wages incurred to produce goods. Direct wages are incurred in each of the six steps of production at Wrigley. In order to determine direct wages in a process costing environment, direct wages is allocated equally to all the products. Manufacturing overhead costs refer to indirect costs accrued during the manufacturing process. Examples of manufacturing overhead entail staff salaries for maintenance personnel, managers, quality control personnel, materials, management, and janitorial staff (Weygandt, Kimmel, & Kieso, 2015). The staff salaries are considered to be manufacturing overhead as labor hours are incurred at a constant rate regardless of production levels. Other examples include supplies no related to the production of the gum, utilities, rent, property taxes, and depreciation on equipment.

Ideal Method for Allocating Manufacturing Overhead

Various techniques may be applied in allocating manufacturing overhead. They include allocating overhead through the direct labor hours against a product or the number of machine hours used in the manufacture of a product (Weygandt, Kimmel, & Kieso, 2015). In this case, allocating overhead via machine hours is more appropriate as they form a significant proportion of total costs. For instance, if Wrigley Company has indirect costs amounting to $200,000, and incurs 40,000 in machine time usage, the overhead rate would be $5 per machine hour. The overhead rate is used consistently to determine manufacturing overhead for various processes.

References

Fisher, J. G., & Krumwiede, K. (2015). Product costing systems: finding the right approach. Journal of Corporate Accounting & Finance, 26(4), 13-21.

Heisinger, K. (2009). Essentials of managerial accounting. Cengage Learning.

Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2015). Managerial accounting. Wiley.

Homework is Completed By:

Writer Writer Name Amount Client Comments & Rating
Instant Homework Helper

ONLINE

Instant Homework Helper

$36

She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up!

Order & Get This Solution Within 3 Hours in $25/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 3 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 6 Hours in $20/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 6 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 12 Hours in $15/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 12 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

6 writers have sent their proposals to do this homework:

Buy Coursework Help
Peter O.
Quality Homework Helper
A+GRADE HELPER
Writer Writer Name Offer Chat
Buy Coursework Help

ONLINE

Buy Coursework Help

Hi dear, I am ready to do your homework in a reasonable price.

$62 Chat With Writer
Peter O.

ONLINE

Peter O.

Hello, I can assist you in writing attractive and compelling content on ganja and its movement globally. I will provide with valuable, informative content that you will appreciate. The content will surely hit your target audience. I will provide you with the work that will be according to the needs of the targeted audience and Google’s requirement.

$55 Chat With Writer
Quality Homework Helper

ONLINE

Quality Homework Helper

Hi dear, I am ready to do your homework in a reasonable price.

$62 Chat With Writer
A+GRADE HELPER

ONLINE

A+GRADE HELPER

Greetings! I’m very much interested to work on this project. I have read the details properly. I am a Professional Writer with over 5 years of experience, therefore, I can easily do this job. I will also provide you with TURNITIN PLAGIARISM REPORT. You can message me to discuss the detail. Why me? My goal is to offer services to you that are profitable. I don’t want you to place an order once and that’s it. For me to be successful, I need you to come back and order again. Give me the opportunity to work on your project. I wish to build a long-term relationship with you. We can have further discussion in chat. Thanks!

$55 Chat With Writer

Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.

Similar Homework Questions

Types of sickle scalers - Jack cornwell community centre - Discusión T6 - 15/37 east esplanade manly - Tri star, inc., has the following mutually exclusive projects: - Macbeth act 3 study questions - 7 2 modeling tax schedules slader - Everbridge rest api documentation - Why are isocost lines straight lines - Activity coefficient in electrochemistry - Epidemiology Case 1 Part 2 - Writing an essay - Watford general hospital wards - Following an ethics-based approach to decision making will normally lead to: - A comparative balance sheet for shabbona corporation - Business Strategies - Three-phase power measurement lab report - Marketing implications of product life cycle - Practice test questions classical and operant conditioning - Policy - ARC PAPER - CLA 2 PPT - Presentation for the Business Research Proposal - Eating habits and weight control ppt - N492 Discussion Mod 4: - Physical or behavioral signs of incipient puberty - Isolation precautions for mononucleosis ati - Personal development plan template nursing - Women of the celts - Camden palliative care team - Capsim capstone business simulation - Bachelor of actuarial studies handbook - Ancient egyptian makeup tools - Ch3cooh h2o balanced equation - Mt gambier to adelaide - Suicide among law enforcement (topic) - Open ended questions about school uniforms - Wk 2, IOP 490: Team Debate Question 2 - Food label assignment - Marketing essay 500 words 10 hrs - Healthcare - Math 221 statistics for decision making week 4 ilab - Cambridge maths year 7 answers - Sustainable growth rate formula excel - Horrible histories mummification game - How to determine percent recovery - What types of advanced technology are used in mapmaking today - Responding - Www melec com au - Assignment - Simpson cast in place anchors - A well chosen target market embodies the following characteristics - Sharp essay examples - Starbucks barista training program - Nike supply and demand analysis - The garden place case study solution - Financial management information system ppt - Essay 1 for Modern Britain 1000 words (or 4-5 double-spaced pages) - Mary wollstonecraft questions and answers - Conjunct or disjunct melody - Newspaper clipping that shows the use of statistics - Commentary Peer Review Worksheet - Unsw report cover page - Key technology trends that raise ethical issues - Microsemi libero free license - Can teenagers go to chuck e cheese - Merchants are held to a higher standard of performance or duty than are nonmerchants. - Metals and acids reaction - Identifying an unknown hydrogen carbonate lab answers - What is a vivid verb - Openvellum.ecollege.com - What technique would you use to separate sand from water - Difference between midi and audio - Blue sky mine western australia - Ford transit towing capacity chart - DB and power point - Dead space 3 chapter 15 rosetta puzzle - MUSIC INTRODUCTION - Delta airlines powerpoint - Churchill and lewis model of business growth - Farlingaye 6th form open evening - Abiotic factors of a jungle - InfoTech in a Global Economy - Franklin - Several years ago swissair made some unwise investments - Hold timer expired error bgp mikrotik - What does fx stand for in medical terms - Warwick ifp science and engineering - Summary - Deb the travel doctor - Pay it forward plot - Nursing journal assignment - Individual success plan - Spielberg suggests that this film raises profound questions about infinity - Computer science ethical hacking - What is a dress up in writing - 1-1 - The lancaster corporation's income statement - Soil testing brisbane northside - Dc shunt motor circuit diagram - Kaffir boy book summary