Answer & Explanation:In a 5-7 page paper, summarize your findings in weeks 1-5. Please include the following from previous weeks:The elements of planning, control, and decision making used by the company.Different types of costing methods used by the company (Include fixed and variable costs.)Discuss the production costing methods used.Discuss the types of budgets that are useful for the company.Using your managerial accounting knowledge and skills, give 2-3 recommendations for improvement based on your findings.Be sure that the paper has no spelling or grammatical errors.PLEASE READ EVERY ATTACHMENT AND FEEL FREE TO USE SOME OF THE INFORMATION FROM THEM FOR THE PROJECT.
lmendoza_module1courseproject_082116.docx
lmendoza_module2courseproject_082816.docx
lmendoza_financialstatements_091316.docx
20160821131457public_manufacturing_company.docx
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Running Head: COCA COLA
1
Planning, Control, and Decision Making
Linsey Mendoza
Rasmussen College
Author Note
This assignment is being submitted on August 21st, 2016, for Robert Larison’s
A332/ACG3357 Section 03 Accounting for Business Managers course.
COCA COLA
2
Coca Cola
One of the elements of planning in Coca Cola Company is the worker enablement that
gives authority to the employees in the operations levels. This therefore enables the company to
plan, control and make decisions without the authorization from the organizations management.
The worker enablement is approached on the basis of the philosophy where the employees are
very close to the job and are given opportunity to present their ideas and suggestions for
improvement in the company. For instance, worker motivation is crucial in matters regarding to
performance planning, control and decision making on succession planning.
The key objective of planning is to achieve the defined goals. The coca cola company has
set clear goals and methods used for achieving these goals. For example, the factory manager in
the company has initiated an evaluation program for all the suppliers so as to select the best
suppliers who will supply materials with zero defects. Workers can therefore identify the causes
of these defective materials and therefore look for ways to solve the problem (Kazmi, 2008). An
example is where the managers of the company sit to plan for an annual budget and the
maki98ng decisions on the production costs.
Controlling in Coca Cola Company is a managerial responsibility aimed at monitoring
the implementation of the plan and come up with corrective actions in areas where it is needed.
Monitoring implementation is therefore an element of control in the Coca Cola Company.
Feedback for work done or any other operation is another element of control that is operational
in Coca Cola Company. It is through this element that evaluation is done and corrective actions
set to implement a successful plan (Kazmi, 2008). The control involves the financial and
COCA COLA
2
performance reports. For example, in 2013 the company registered a 2% global volume growth
and the management therefore used this to improve on performance for 2014.
Decision making on the other hand is a process by which a company agrees on the best
solution among a variety of alternatives. In Coca Cola Company, this element is a managerial
function and is collaboration between planning and controlling. All the alternatives aimed at
improving processes are presented to the mangers and decision is made based on the best fit.
Here, the accounting information system is applied so as to supply the information needed which
will in turn simplify the process of decision making. For example, the human resources manager
decides to hire more drivers for distributing their products. The management here has to
calculate the cost efficiency and value addition to this decision. The managers can also think of
cutting down the cost of paper procurement and go for e-procurement. This will require a focus
team for process improvement. The report present after the focus will require decision to go for
the option.
COCA COLA
2
References
Kazmi, A., & Kazmi, A. (2008). Strategic management and business policy.
Running Head: COSTING METHODS
1
Costing Methods
Linsey Mendoza
Rasmussen College
Author Note
This assignment is being submitted on August 28th, 2016, for Robert Larison’s
A332/ACG3357 Section 03 Accounting for Business Managers course.
COSTING METHODS
2
Coca-Cola company financial statement overview
The Coca-Cola Company reported a first quarter result of the year 2016 towards the end
of April. The company noted a 4% decline in total revenue, but registered a 2% increment of the
organic revenue. The registered earning per share was 0.35%, while the comparable earnings per
share was 0.45%. The volume sold globally increased by a 2%. An expansion in the comparable
currency operational margin was reported as well. A positive was reported as the company’s
products gained global value share amongst the non-alcoholic ready-to-drink beverages. The
global mix raised by a 1%, meaning that the company expanded in place, reduced promotion,
increased price and impressed the consumers (people). The comparable currency value outlook
for the full year for the company remained the same (Anderson et al, 2016).
Coca-Cola Costing method and Rationale
Continuous operation or unit costing is a costing method that is embraced in
manufacturing industries that have a certain protocol of production, adhered to repeatedly
(Lucey, 2002). In the case of the Coca-cola company the process of manufacturing a certain
brand of soda, let’s say, sprite, is repeated over time and there very little changes in the
production cost (Anderson et al, 2016). The costing process is arrived at, after the repeated
evaluations of total costs and an average cost is arrived at. The average cost can give the
production cost of a unit (Lucey, 2002). The Coca-Cola Company evaluates the cost of
production for various business periods and calculates an average for all brands that match the
production process. They find the average value of production of a single soda, therefore coming
up with their selling price and consequently the recommended retail price (Anderson et al, 2016).
COSTING METHODS
2
References
Lucey, T. (2002). Costing. Cengage Learning EMEA.
Anderson, D. R., Sweeney, D. J., Williams, T. A., Camm, J. D., & Cochran, J. J. (2016).
Statistics for business & economics. Nelson Education.
Running Head: FINANCIAL STATEMENTS
Financial Statements
Linsey Mendoza
Rasmussen College
Author Note
This assignment is being submitted on September 13th, 2016, for Robert Larison’s
A332/ACG3357 Section 03 Accounting for Business Managers course.
1
FINANCIAL STATEMENTS
2
Coca Cola Financial Statements
Master budget
A master budget is the main budget that contains all the estimates required in planning for
the budget. The company will include to it all the functional budgets. All the departments in
company will prepare their budgets which will be incorporated to the master budget (Weygandt,
Kimmel & Kieso, 2015). The coca cola company will use the master budget to make sure that all
the other budgets have good relationship with one another. It also shows the whole company as
one unit.
Sales budget
It is prepared to show the projected sales of a company in the next financial year. It
forecasts the expected sales of coca cola based on the previous sales. Complete accuracy is required
in preparing this budget since its key in preparing the other budgets. It is a major part of the master
budget (Lucey, 2002). The company will use it to project the expected sales in the next financial
period and provide for all the necessary funds it requires to make it a success.
Production budget
It shows the production units a company targets to achieve in its next financial period based
on the projected sales. It shows the expected units for each kind of product the company makes.
The company is supposed to accounts for the closing inventory to ensure that the cost that the costs
that arises in holding stock do not surpass the required limit. The company is able to maintain the
required inventory level to meet its demand in the market. Since it produces a wide variety of
products, the company can comfortably produce each one according to its demand (Weygandt,
Kimmel & Kieso, 2015).
FINANCIAL STATEMENTS
2
Direct material budget
It is used to calculate the needed quantities raw materials with their costs as prepared in the
production budget. It is used to estimate the direct materials required and how to fetch them at the
best price (Lucey, 2002). The budget ensures that Coca Cola Company has sufficient level of raw
materials to meet the expected production. This will reduce the holding costs associated with
handling excess inventory of raw materials. It is also accounts for the stock level of closing
inventory of direct materials.
Manufacturing overhead budget
This budget shows all the estimated costs required for manufacturing. It excludes the direct
material and direct labor costs. It forecast of all the production, fixed, variables and semi-variable
overheads to be incurred during the entire budget period. The coca cola company can use it cut
and manage its manufacturing cost. It is used to account for all the costs in manufacturing.
Sales and distribution cost budget
It is an estimate of all the costs a company is expected to incur in selling and distributing
its product during the coming budget period. Its computation is based on the projected sales volume
calculated above. The company uses it to ensure that all financing for sales and distribution is in
place.
Administrative budget
It shows the expected costs of all administration expenses by the company. Each
department is required to prepare its own budget on the planned expenditure. The budget is
prepared based on previous financial period budget with adjustment done (Lucey, 2002). The
company will use to plan for their administrative expenses and ensure that all unwanted expenses
are cut down.
FINANCIAL STATEMENTS
2
References
Lucey, T. (2002). Costing. Cengage Learning EMEA.
Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2015). Financial & Managerial Accounting.
John Wiley & Sons.
Running Head: PUBLIC MANUFACTURING COMPANY
Topic: Public Manufacturing Company
Name
Institution
Professor
Date
2
Running Head
Public Manufacturing Company
One of the elements of planning in Coca Cola Company is the worker enablement that
gives authority to the employees in the operations levels. This therefore enables the company to
plan, control and make decisions without the authorization from the organizations management.
The worker enablement is approached on the basis of the philosophy where the employees are
very close to the job and are given opportunity to present their ideas and suggestions for
improvement in the company. For instance, worker motivation is crucial in matters regarding to
performance planning, control and decision making on succession planning.
The key objective of planning is to achieve the defined goals. The coca cola company has
set clear goals and methods used for achieving these goals. For example, the factory manager in
the company has initiated an evaluation program for all the suppliers so as to select the best
suppliers who will supply materials with zero defects. Workers can therefore identify the causes
of these defective materials and therefore look for ways to solve the problem (Kazmi, 2008). An
example is where the managers of the company sit to plan for an annual budget and the
maki98ng decisions on the production costs.
Controlling in Coca Cola Company is a managerial responsibility aimed at monitoring
the implementation of the plan and come up with corrective actions in areas where it is needed.
Monitoring implementation is therefore an element of control in the Coca Cola Company.
Feedback for work done or any other operation is another element of control that is operational
in Coca Cola Company. It is through this element that evaluation is done and corrective actions
set to implement a successful plan (Kazmi, 2008). The control involves the financial and
3
Running Head
performance reports. For example, in 2013 the company registered a 2% global volume growth
and the management therefore used this to improve on performance for 2014.
Decision making on the other hand is a process by which a company agrees on the best
solution among a variety of alternatives. In Coca Cola Company, this element is a managerial
function and is collaboration between planning and controlling. All the alternatives aimed at
improving processes are presented to the mangers and decision is made based on the best fit.
Here, the accounting information system is applied so as to supply the information needed which
will in turn simplify the process of decision making. For example, the human resources manager
decides to hire more drivers for distributing their products. The management here has to
calculate the cost efficiency and value addition to this decision. The managers can also think of
cutting down the cost of paper procurement and go for e-procurement. This will require a focus
team for process improvement. The report present after the focus will require decision to go for
the option.
4
Running Head
References
1. Kazmi, A., & Kazmi, A. (2008). Strategic management and business policy. New Delhi: Tata
McGraw Hill Education.
…
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