- QUESTION 1.Discuss each of the following cost concepts in the context of Campbell Soup Company (OR ANY COMPANY OF YOUR CHOICE). Give examples of the various costs (if a cost is not relevant to Campbell’s please explain why). Be sure to indicate where in the organization your cost example occurs, such as at the corporate level or within a particular department.
Then respond in a meaningful way to the post of at least one of your fellow students. Advance the discussion of cost concepts by making additional observations, asking additional questions, etc.
- Product and Period Costs
- Variable and Fixed Costs
- Direct and Indirect Costs
- Controllable and Uncontrollable Costs (identify from the prospective of which manager)
- Opportunity, Out-of-Pocket, and Sunk Costs
- Differential, Marginal, and Average Costs
It would be ok to include a definition of the type of cost, and then provide examples that would relate to Campbell Soup. Minimum of 400 words
- QUESTION 2. View a segment from either How It’s Made (on the Science Channel or Discovery Channel), or Unwrapped (on the Food Network). Briefly summarize the production process, identify relevant product costs. Describe an example of an application of job costing. Include a discussion of appropriate overhead costs and what allocation base you would suggest using. 300-500 words
- QUESTION 3. View a segment from either How It’s Made (on the Science Channel or Discovery Channel), or Unwrapped (on the Food Network). Briefly summarize the production process, identify relevant product costs. Describe an example of an application of process costing. Include a discussion of appropriate overhead costs and what allocation base you would suggest using. 300-500 words.