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Lawn Care Company Survey

In: Business and Management

Submitted By graceharris11
Words 363
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Accounting 311 Company Project Part 1 – Company Survey

1. Industry of company surveyed: Landscape

2. Type of Managerial Accounting Used: Job Order: X Process Costing Other: Explain

3. List 3-5 of the most significant direct Materials from a cost basis: Vehicles/Trailers

Equipment Fuel Repairs Deprecation

4. List 3-5 of the most significant direct Labor elements from a cost basis {list skill level – e.g. journeyman mechanic, apprentice painter, master carpenter, journeyman welder, etc, etc, etc.}

Contract Labor Payroll Taxes Uniforms

5. How does the company decide whether a cost is direct or indirect?

A direct cost is related to the job in which we are working at the time we incur the direct expense, then we allocate our other cost as overhead.

6. List 3-5 of the most significant Indirect Cost elements from a cost basis

Supervisor Admin Office Supply Expenses

7. How many overhead rates does the company use? Single X Multiple

8. What is considered the cost driver (denominator) of the overhead rate(s)? List in the space provided:

The cost driver for the company is direct labor hours

9. How often does the company revise its predetermined overhead rate? Annually

10. In 500 characters or less: Describe the company’s budgeting process; include: Does the company have a written strategic plan; how operating and planning budgets differ; does the company have a budget committee or one person who develops the budget; how is budget guidance issued to the budgeting team/person; how often does the company develop a budget; when during their fiscal year do they prepare the budget for the next budget period.

The company I interviewed has a yearly operating and planning budget. They use their budget numbers from

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