a. Compute the following performance metrics for each program: (1) Average hours of employee training per chef, rounded to one decimal place. Program A: _____ hrs. per chef Program B: _____ hrs. per chef (2) Average number of mistakes per chef, rounded to one decimal place. Program A: _____ mistakes per chef Program B: _____ mistakes per chef
Process Costing
Process costing is a sort of operation costing which is employed to determine the value of a product at each process or stage of producing process, applicable where goods produced from a series of continuous operations or procedure.
Job Costing
Job costing is adhesive costs of each and every job involved in the production processes. It is an accounting measure. It is a method which determines the cost of specific jobs, which are performed according to the consumer’s specifications. Job costing is possible only in businesses where the production is done as per the customer’s requirement. For example, some customers order to manufacture furniture as per their needs.
ABC Costing
Cost Accounting is a form of managerial accounting that helps the company in assessing the total variable cost so as to compute the cost of production. Cost accounting is generally used by the management so as to ensure better decision-making. In comparison to financial accounting, cost accounting has to follow a set standard ad can be used flexibly by the management as per their needs. The types of Cost Accounting include – Lean Accounting, Standard Costing, Marginal Costing and Activity Based Costing.
Performance metrics
Buffalo BBQ Restaurant is trying to become more efficient in training its chefs. It is experimenting with two training programs aimed at this objective. Both programs have basic and advanced training modules. The restaurant has provided the following data regarding the two programs after two weeks of implementation:
| Training Program A | Training Program B | |||||||||
| New chef # | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
| Hours of basic training | 24 | 26 | 30 | 21 | 24 | 23 | 26 | 31 | 30 | 24 |
| Hours of advanced training | 9 | 5 | 8 | 12 | 10 | 6 | 3 | 0 | 1 | 2 |
| Number of chef mistakes | 10 | 12 | 14 | 15 | 15 | 5 | 5 | 8 | 3 |
a. Compute the following performance metrics for each program:
(1) Average hours of employee training per chef, rounded to one decimal place.
Program A: _____ hrs. per chef
Program B: _____ hrs. per chef
(2) Average number of mistakes per chef, rounded to one decimal place.
Program A: _____ mistakes per chef
Program B: _____ mistakes per chef
b. Which program should the restaurant implement moving forward?
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