A financial project about the company of TOYOTA
Is the company uses process costing or job order costing system?What products does the company make and how they make them including the manufacturing processes involved? For which products would job costing or process costing be most appropriate?
Look for how the main product is made, and answer the following questions. Prepare a simple flowchart that illustrates the major steps in manufacturing of the product. If company uses process costing, how many separate processing departments might be used?
What categories of inventory does company show on its balance sheet?
What do you think are the major types of manufacturing overhead at the company? What activity cost could be used to assign each types of overhead to the processing department you listed above? List the key activities performed at the company. Use at least one activity in the area of production, sales, human resources, and accounting. What are the potential cost drivers for each activity?
How do you divide the company into responsibility centers based on product line? Identify possible investment center, profit center, and cost center.
Click on budgeting package, and explain the key issues.
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