managerial accounting assigment

Instructions

In this Milestone, you are demonstrating an understanding related to the Course Learning Outcomes 5, 6, & 7: an understanding of manufacturing overhead costs, process costing and other related costs, and managing operations (planning, directing, and controlling).

Prepare your submission in a Word document titled, 'Milestone 3'. Note that you are required to provide a comprehensive summary that includes all relevant facts. The concern is not quantity, but quality. However, you MUST provide information that you have written, not a cut-and-copied work-cited or plagiarized (Artificial Intelligence) summary.

Question 1 (CLO 5). Donuts for Delivery, a company that manufacturers donuts similar to the doughnut peddler wholesale company (https://www.doughnutpeddler.com/about-us), has hired you as their financial controller. The questions below are ones that they have asked you to explain to them on day one-

What are the three basic product costs related to making the donuts?
Provide an explanation for each cost to help them understand how the costing process works and provide an example for each product cost as it relates to Donuts for Delivery's production of donuts.
One of those basic product costs is overhead. Describe the 3 components of overhead and give an example for each one as it relates to Donuts for Delivery.

Question 2 (CLO 6). Baker Fred, the CEO of Donuts for Delivery, has asked you how the Planning Budget and the Flexible Budget will impact the Standard Costs and Variance Analysis technique that Baker Fred expects you to utilize as the financial controller. Explain to CEO Fred how using the Standard Costing and the Variance Analysis techniques would benefit the company.

Question 3 (CLO 7). Fred the Baker, CEO for Donuts for Delivery, has heard about a strategic business tool that could help improve operations; a Balanced Scorecard (BSC). Baker Fred does not have a clue what it is, so be very clear in your explanation to Baker Fred as to what a Balanced Scorecard is and how it is going to benefit Donuts for Delivery. Naturally, the CEO doesn't want you to waste your time on something that does not add value to the company, so be sure to 'sell' the idea of creating a BSC to Baker Fred. He used to make the donuts for Dunkin Donuts, but decided to open his own business, Donuts for Delivery. You may recognize him from his time at Dunkin Donuts.