Accounting Total Product Costs Question

Description

Discussion (1) : Joint costs are used to compute total product costs or the purpose of determine a profit and a sale price. You need to calculate joint costs to calculate inventoriable costs and cost of goods sold. However, as noted in the journal of accounting, not-for-profit entities (NFPs) are under constant pressure to devote an increasing portion of their expenditures to accomplishing their mission programs (disaster relief). However, money must be spent on administration (rent or leasing fees, utilities, etc) , management functions (salaries, travel, blood donations, etc) and fundraising efforts. Pretend that you were donating funds to the Red Cross , propose ways that Red Cross should allocate funds donated from the general public. Also discuss the consequences, if donors or contributors restrict their donations to only disaster relief.Guidelines-Check your work and correct any spelling or grammatical errors.-Reply to at least two classmates’ posts. Although there are no requirements to use a number of words, your response to your classmate’s discussion should be substantive and add value to the discussion (i.e. reflecting on their response, asking follow up-questions, etc.). _____________________________________________________________________________________Discussion (2) : XYZ Bakery’s general manager was puzzled by the results of the income statement for the month which showed a net loss for the bakery. The owner is puzzled because of the volume of customers who flood the bakery each day for baked goods. The owner calculated the cost of direct materials and direct labor and was sure the prices were set right and overhead was estimated based on prior year expenses. How is it possible that volumes could be high but the store could lose money? What are other factors the owner should consider to make sure next year’s financial statements report net income?

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