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ACL_II_Assignment_B_CMBC

ACL_II_Assignment_B_CMBC

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Published by: Sabyasachi Roy on Jun 05, 2011
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Assignment Assessment Report
 
Campus:Sainik FarmsYear/semester2011-12Level:ACL-IIAssignmentTypeAssignment BModule Name:CMBCAssessor’sNameMs. MonicaStudent’sName:Manish VermaReqdSubmissionDatee-mail id & MobNo9899715278/manish_verma69@yahoo.comActualSubmissionDateStreamBusinessSubmitted to :ewlciCertificate by the Student:
Plagiarism is a serious College offence.I certify that this is my own work. I have referenced all relevant materials.Manish Verma(Student’s Name/Signatures)ExpectedOutcomesAssessmentCriteriaGradebased onD,M,P,RsystemFeedback
General Parameters
Clarity Clearunderstandingof the conceptAnalytical Thinking-Ability toanalyze theproblemrealisticallyResearch Done- Research carriedout to solve theproblemFormatting &Presentation-Concise& clearthinking alongwithpresentation
Subject Specific Parameters
 
Assignment Grading Summary (To be filled by the Assessor)OVERALL ASSESSMENTGRADE:TUTOR’S COMMENTS ONASSIGNMENT:SUGGESTED MAKE UP PLAN(applicable in case thestudent is askedto re-do the assignment)REVISED ASSESSMENTGRADETUTOR’S COMMENT ONREVISEDWORK (IF ANY)Date:Assessors Name / Signatures:Assignment B
Ques 1
: Each student will be given one of the under mentionedindustry for assignment work.
Education Industry
Manufacturing Industry
Hospital Industry
IT Industry
 Transport Industry The students will have to visit a company from the assigned industry,meet the Accounts person and do the following:-a.Find out and understand the Cost procedures followed by thecompany.b.If possible get a sample of cost sheet or Statement of Accounts A presentation on the above and recommendation for areas of improvement has to be made.
Ans.
 
Manufacturing Industry- Nestlé India Ltd.Profile
: Nestle India is a subsidiary of Nestle S.A. of Switzerland. NestleIndia manufactures a variety of food products such as infant food, milkproducts, beverages, prepared dishes & cooking aids, and chocolates &confectionary. Some of the famous brands of Nestle are NESCAFE,
GradesGrade DescriptorsAchieved Yes/No(Y / N)P
A Pass grade is achieved by meeting all the requirementsdefined.
M
Identify & apply strategies/techniques to find appropriatesolutions
D
Demonstrate convergent, lateral and creative thinking.
 
MAGGI, MILKYBAR, MILO, KIT KAT, BAR-ONE, MILKMAID, NESTEA,NESTLE TOMATO KETCHUP, NESTLE Milk, NESTLE SLIM Milk, NESTLEFresh 'n' Natural Dahi and NESTLE Jeera Raita 
Cost procedure followed in Nestlé India Ltd.- TOMATO KETCHUPAnd CHOCOLATES
A company’s production process helps in determine the best way of accounting for its costs. Process costing works well whenever relativelyhomogeneous products pass through a series of processes and theyreceive similar amount of manufacturing costs. Nestle accounts for itsvast chocolate chips production by using a process costing system.
Sequential Processing:
The units typically pass through a series of manufacturing or producing departments, in each departments orprocess is an operation that brings the product one step closer tocompletion.
Parallel Processing:
 This pattern require two or more sequentialprocesses to produce the finished goods. Partially completed units areworked on simultaneously in different processes and then broughttogether in a final process for completion.
FLOW OF MANUFACTURING COSTS THROUGH THE ACCOUNTS OFPROCESS COSTING(Tomato Ketchup)
 
Picking DepartmentWork in ProgressFlavoring DepartmentWork in ProgressBottling DepartmentWork in ProgressMaterials:Fresh tomatoesSugar SaltDistillation – Vinegar SpicesPicking labour Applied OverheadTransferred in from picking (includes allmanufacturing costs)Materials:KetchupFlavoring Labour Applied OverheadTransferred in fromFlavoring (includesall manufacturingcosts from pickingand flavoring)Materials:BottlesBottling Labour Applied Overhead

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