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Greetings Inc

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Submitted By lean3101
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Greetings Inc.
Greetings Inc.: Job Order Costing

Developed by Thomas L.Zeller, Loyola University Chicago, and Paul D.Kimmel, University of Winconsin-Milwaukee
The business Situation
Greetings Inc. has operated for many years as a nationally recognized retailer of greeting cards and small gift items. It has 1,500 stores throughout the United States located in high-traffic malls. As the stock price of many other companies soared, Greetings’ stock price remained flat. As a result of a heated 2013 shareholders’ meeting, the presiden of Greetings, Robert Burns, came under pressure from shareholders to grow Greetings’ stock value. As a consequence of this pressure, in 2014 Mr.Burns called for a formal analysis of the company’s options with regard to business opportunities. Location was the first issue considered in the analysis. Greetings stores are located in high-traffic malls where rental costs are high. The traditional rental cost was justified, however, by the revenue that resulted from these highly visible locations. In recent years, though, the intense competition from other stores in the mall sellling similar merchandise has become a disadvantage of the mall locations. Mr.Burns felt that to increase revenue in the mall locations, Greetings would need to attract new customers and sell more goods to repeat customers. In order to do this, the company would need to add a new product line. However, to keep cost down, the product line should be one that would not require mcuh additional store space. In order to improve earnings, rather than just increase revenues, Greetings would have to carefully manage the costs of this new product line. After careful consideration of many possible products, the company’s management found a product that seemed to be a very good strategic fit for its existing products: high-quality unframed and

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