Report on: Aphro Organic Skincare Date of Submission: September 21, 2020 Course Title: Cost Accounting 1 Course ID: ACN405 Section: 1 Summer 2020 Prepared by Mohammad Sharfuddin Ali: 1710740
Table of Contents ContentPage NumberSynopsis1 - 2Projected Financial Statements3 - 4Products5 - 7Calculations of Revenues8Variable and Fixed Costs9Jobs and Activities10Manufacturing Accounts11Cash Budget12Works Cited13
Synopsis: Skincare is one of the largest growing markets in the world currently. In time, the demand for skincare products has shifted from elderly women trying to beat ageing, to teenagers trying to look their best. Especially in Bangladesh, where the country is no stranger to pollution, toxic waste and gases that are harmful for the skin. Not only so, there are a growing number of people who are born with skin problems that require delicate care. Personally, my family is one of them. My grandmother passed her eczema to my mother, brother and my sister who are trying to overcome problems that come with such skin condition. Chances are, in time, I will face them too. Thus, brings me to the idea of my start up: Aphro Organic Skincare. A company that produces homemade skincare with organic materials that are free from the chemical Sodium Lauryl Sulfate (SLS), Paraben, and Cruelty. Aphro has a wide range of products that has been thoroughly researched before producing. From, soaps to lip balm, all products are made using organic materials found locally in Bangladesh. Before, producing the products, I have looked at numerous websites and YouTube videos on how to make these products at home. I was able to list the ones which are most feasible as a start up just to tread the waters to see how the business works out. Just like any amateur cook, after numerous failures I was able to create a few products that can be tested. My brother and sister volunteered to have the products tested on them. I figured, since they have such sensitive skin, if it works well on them, it certainly will work well on others. Once the trails have brought back positive results, I began to think about packaging. I decided to use small bottles and containers that will be put in cardboard bags. The materials needed for packaging will be bought in bulk from local producers.
I have hired two labours whom I will teach personally to create and products and package them. I will personally assess the products before packaging. Since this is start up, and the production methods are very easy to learn, I did not look outside to find eligible labours with experience in making skincare products. I merely hired two of our live-in domestic help who are willing to work