Article Writing Homework Help

I need help creating a thesis and an outline on Balance Sheet and Cost Reduction of Sidcup Furnishings. Prepare this assignment according to the guidelines found in the APA Style Guide. An abstract is required. The cost of direct materials has increased over the years meaning that this could have caused an increase in the cost of production for a unit. On the other hand, retail prices have increased over the years as indicated by the retail price index.

b) An indication of the possible areas of weaknesses in the material, labor, and overhead costing and control practices and procedures used in the factory of the company. In addition, you should comment on any other areas you consider to be significant.

Job order costing is used where each job is unique and requires special attention, therefore this is the best method to be used by Sidcup limited because each order is different in production, the problem faced by this company is that the determination of cost of labor used and materials used, the method used is inappropriate.

Sidcup estimates material costs using the cost from the previous year which is very wrong because their costs may increase or decrease during the year, therefore, the company should adopt one of the material cost estimation methods. (Pizzey A (1989))

Last in last out- this means that the costs of materials used will be determined by the cost of those that came in last.

Average method- this means that the cost of materials used will be determined by an averaged cost of the materials.

Specific identification means that materials cost will be determined by the specific cost of those used in production.

Sidcup estimates material costs using the cost from the previous year which is very wrong because their costs may increase or decrease during the year, therefore the company should adopt one of the material cost estimation methods. (Pizzey A (1989))&nbsp. &nbsp.