Production and Costs

Anonymous

Question Description

Module 2 - SLP

Production and Costs

For Module 1, you did research on consumer demand and pricing for your business idea. Continue with the same business idea that you wrote about for Module 1, but now look at the cost side of your business.

Do some research on various potential start-up expenses for your business based on research on wages, office space rental rates, etc., in your home town. More specifically, write a three-page paper answering the following questions:

  1. What do you think the main expenses will be for your business? Make sure to discuss labor, rent, equipment, and any other major expense you can think of.
  2. Do some research on the internet or from your own personal contacts to get a ballpark estimate of how much the specific expenses are in your home town for the items that you listed in your answer to Question 1 above. You can use Craig’s List or similar webpages to get an idea about wages for different positions that you may need to hire for, and there are many webpages that have advertisements for renting commercial property in different parts of the country.
  3. Finally, break down your expenses into fixed plus variable costs. Make sure to cite two of the required background readings as justification for your classifications of your different expenses into the fixed and variable cost categories.

SLP Assignment Expectations

Answer the assignment questions directly.

  • Stay focused on the precise assignment questions. Do not go off on tangents or devote a lot of space to summarizing general background materials.
  • Make sure to use reliable and credible sources as your references. Articles published in established newspapers or business journals/magazines are preferred. If you find articles on the Internet, make sure they are from a credible source.
  • Reference your sources of information with both a bibliography and in-text citations. See the Student Guide to Writing a High-Quality Academic Paper, including pages 11- 14 on in-text citations. Another resource is the “Writing Style Guide,” which is found under “My Resources” in the TLC Portal.

Tutor Answer

Lessermaster
School: Rice University

Attached.

1

Running Head: PRODUCTION AND COSTS

Production and Costs
Name
Course
Professor
Date

PRODUCTION AND COSTS

2

One of the major failures of many businesses is lack of enough funds to finance its
expenses particularly in the first 6-12 months of the initial operations. It is also notable that many
people start their consulting firms without identifying and planning for the costs or expenses
which will be necessary for the efficient functioning of the business. Therefore, the management
consultancy firm to be successful, as an owner, there will need to overlook a crucial management
tool called budgeting. Hence, this module will discuss the various potential startup expenses for
the consultancy business and also provide estimates of every expense which will be incurred for
the smooth operation of the firm. Additionally, the paper will also conduct a breakdown analysis
of the various expenses into fixed and variable costs.
Having a little background in accounting, there will be no need to hire accounting
consultant to analyze the potential startup expenses and costs for my business. Therefore, I will
make sure that this document will have everything which will be necessary for...

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Review

Anonymous
Tutor went the extra mile to help me with this essay. Citations were a bit shaky but I appreciated how well he handled APA styles and how ok he was to change them even though I didnt specify. Got a B+ which is believable and acceptable.

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