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You are an entrepreneur on the verge of starting a new company. Describe the company you are planning to start. Is it a service or a manufacturing company? What will be your main source of operating revenue? What expenses are you anticipating? Categorize your anticipated costs as period or product costs and identify whether each is an indirect or a direct cost. Identify your direct materials, direct labor, and manufacturing overhead costs.
Remember, the information you gather in this assignment will contribute to your final project due in Module 5.
Be sure to cite any sources using APA style. You may use this APA Citation Helper as a guide.
Through the end of the module, provide substantive responses to at least two other students’ initial posts.
Assignment 2 Grading CriteriaMaximum PointsInitial Response20Discussion Participation20Writing Craftsmanship and Ethical Scholarship10Total:50
Assignment 2: Calculating Revenue – AU ACC202 Before identifying costs in a new business, it is necessary to calculate revenue. All costs will be based on your anticipated revenue because costs are generated based on what it takes to produce the product for sale. This module you are going to think about your new business and determine what the first year in sales looks like. Describe what product or service you will be selling. How much will you charge for your product or service? How many units of the product or service do you anticipate being able to sell over the first year? This is a good time to dream, but also to be realistic. The beginning period in any company is challenging and realistic planning is crucial for success. Based on your estimates, build a table, in Microsoft Excel, showing the quantities sold of each item or service, the dollar amount charged for each, and the total anticipated revenue. Your table should reflect sales by the month and then an annual total. Include your table as an attachment to your initial discussion response. Remember, the information you gather in this assignment will contribute to your final project due in Module 5
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