Briefly Describe The Company You Selected For Your Small Business Idea Paper

Types of Costing Name Institutional affiliation Types of Costing Ramadan Classics designs and produces high end small and medium-size clutch bags, travel bags, laptop bags and shopping baskets for individuals and corporates. The company customizes its products to the need of its customers. The cost of each back varies depending on the complexity of the design, cost and availability of the material used, size, amount of labor and the degree of urgency. Inventories include material, zippers or adhesive surfaces, stitching threads and metallic business logo attached to the item. These items are supplied by local and international manufacturers who can produce them at a lower cost. Individual buyers purchase fewer and unique bags, usually in cash, while corporate customers buy large quantities of similar products usually on credit. The business would use the job costing system. A job is defined as a project dedicated to producing similar items (Heisinger, 2010). The business can have various jobs running concurrently. For instance, when Coca-Cola orders 470 red medium size travel bags and 530 green shopping bags to issue to its customers in a product promotion, the cost of producing a unit of red bag would be uniform because they use the same