Copyright 2022 Amy Kwan. All rights reserved. RSM222 Individual Costing Assignment. Page 1 of 2 RSM222 – Individual costing assignment instructions Worth 5% of your overall course grade Due Friday October 28, 2022, at 10pm Instructions: Pick a single dish that you can both make at home and purchase at a restaurant. Part 1 [over 3 slides max]: From the perspective of making the dish at home Describe in reasonable detail what you estimate the total cost would be for you to prepare the dish. State/summarize your assumptions and rationale for costs, i.e., direct labour rate, direct materials, indirect costs, etc. Prepare your costing analysis in an Excel workbook and transpose table(s) with key information (highlights) onto a PowerPoint (format it to be readable on a slide). Provide a breakdown of the cost elements. Discuss/provide context as you see fit assuming you are presenting/explaining the information to an audience of non-accountants. Part 2 [over 5 slides max]: For the perspective of making/selling the dish at a restaurant Describe in reasonable detail what you estimate the cost would be for the restaurant to prepare the dish. State/summarize your assumptions and rationale for costs, i.e., direct labour rate, direct materials, indirect costs, etc. As part of your analysis for this part, state what contribution margin and profit margin you believe the restaurant makes on this dish. For this part, please also include some data visualizations elements (charts, graphs, icons, tables) that would be helpful to a restaurant owner. Your choices should aim to help a non-accountant better understand your analysis and the story you are trying to tell them. Prepare your costing analysis in an Excel workbook and then transpose the table(s) and visualizations to a PowerPoint (format it to be readable on a slide). Ensure you provide a breakdown of the cost elements. Discuss/provide context as you see fit assuming you are presenting/explaining this information to an audience of non-accountants, i.e., the executive chef of the restaurant. Note: Do not over-complicate the exercise with other operational restaurant costs. The exercise is at the scope of comparing a single dish to demonstrate your understanding and appreci
ation of costing. Note: For data visualization, while Excel offers many options for charts and graphs, students may use other applications that they are comfortable with, i.e., Google sheets, Google charts, Tableau, etc. Copyright 2022 Amy Kwan. All rights reserved. RSM222 Individual Costing Assignment. Page 2 of 2 Part 3 [over 3 slides max]: Overall reflection and summary After completing the costing from the two perspectives (home vs. restaurant), provide your thoughts, analysis, and/or reflection upon completing this exercise. Reflection prompts to consider: Did this exercise give you an applied appreciation of why understanding costing is important How/why The contents of your reflection/analysis are up to your interpretation, but the focus is to provide your key takeaways from comparing Parts 1 & 2 and from completing this assignment. Submission Guidelines: Upload one PowerPoint/PDF file to Quercus by Friday October 28 at 10pm. General guideline: o Cover slide (title, name, id) o Introduction slide (i.e., What is your dish What will you be presenting in the upcoming slides ) o Parts 1-3 slides o Appendix slides (optional; 3 slides max) Note: You can only upload one file (PowerPoint/PDF). We will not be accepting or reviewing other files/attachments. Evaluation guidelines: Demonstration of applying and incorporating management accounting concepts from RSM222 (i.e., cost methods, cost behaviours, etc.). Professional presentation with a clear purpose and audience in mind (i.e., preparing a presentation that tells a story about your work, analysis, etc.). Sound and reasonable costing analysis with justification (i.e., clear communication of assumptions and thought process). Understandable and readable visualizations. Assessment will include readability, flow, and neat/professional presentation. Additional information about evaluation: In addition to evaluating the core project deliverables the assessment will consider: Communication Skills: appearance, tone, structure, technical execution Technical Skills: choices/judgements, adequately addressing the analysis/exercise Professional Skills: understanding of role, context, and critical thinking Good luck, have fun, and…Bon Appetit!