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Case Study on Giberson Glass Studio
PRESENTED BY:- GROUP NO. A5

   Chandan Pahelwani (11047)
   Himani Parihar (11049)
   Nikita Bali (11004)
   Sonia Dadlani (10022)
   Sunny Bhuva (11010)



                      Presented to:-
                         Prof. Deepa
    Mishra
GIST OF THE CASE

   Giberson is well known in making different
    types of glasses.
   Felicia coates,an MBA student visiting
    giberson’s glass studio.
   She shadows upon financial statement of
    giberson’s which were previously taken care
    by Mrs.giberson which was neglected after
    their divorce.
CONT…..

   The main key concern point is that Giberson
    has no pricing strategy for the production.

   His financial position is deteriorating.
PROBLEM

   Book keeping
   Need of additional resources .
   No pricing strategy.
   Rapid deterioration of financial position.
SWOT ANALYSIS
        • Qualit                             • Extra
          y                                    cost(labour)
        • Sales                              • Operating cost
        • Orders                             • Need of
                                               additional
                                               financing
                     Strength     Weakness   • Life span of
                                               facilities




                    Opportunity   Threats


    • Trade                                  • Environmen
      shows                                    taIssues
    • Information                            • Loosing
      al                                       customers
      technology
CRITERIA

   Batch wise cost
   Production time
   Weekly production
OPTIONS

   To maintain batch wise profit.

   Maintenance of accounts.
OPERATING COST
                                      Cost per               Operating
                 Item                              Months
                                       month                  Costs
Office Supplies                          $ 25           10      $ 250
Hand Tools/Manufacturing Supplies        $ 150          10      $ 1,500
P/T Labor($5/hr)                         $ 100          10      $ 1000
Other Operating Costs                    $ 640          12      $ 7,680
Truck                                    $ 205          12      $ 2,460
Furnace (GAS)                         $ 1,000           10      $10,000
Depreciation on Furnace (2 Years)         $ 208         12        $ 2,500
Depreciation on Equipment (8 Years)       $   31        12        $     375
Depreciation on Truck (5 Years)           $ 142         12        $ 1,700
Depreciation on Gas Tanks (8 Years)       $   4         12        $      50
Salary                                $   2,083         12   $        25,000
                             TOTAL                            $       52,515
TOTAL ANNUAL REVENUE

        Category         Unit Price    #Units     Sales

Pattern Glass               $9              760      $6,840

Paperweights                $15             400      $6,000

Wrapped Tumblers            $8             1280     $10,240

Vases                       $25             320      $8,000

                Total Annual Revenue                $31,080
Annual Loss

                COGS
Revenue   -   (materials)   -       Operating
                                    Expense     =    Net Loss



$31,080   -        $857         -    $52,515    =   - 22,292
ACTION PLAN

   To find the relevant cost batch wise so that
    he can gains minimum margin profit.

   Also he should maintain the books of
    accounts.
MATERIAL BATCH WISE COST

Cost per batch = 21.42

Total lbs. = 169

If Increase material used to 200 batch then

169 - - - 21.42

200 - - - - ??     = 25.35

                             CostBatch   Total work Total Cost
                                          done in
                                          week
                     Old        21.42     40 weeks     856.8
                     New        25.35     40 weeks      1014
DECISION


   To prepare the books of accounts.
   To evaluate cost as per batch because they
    are doing batch wise costing.
CONTINGENCY PLAN

   To increase the cost batch wise so that profit
    can be easily maintained.

   Reduce the units in batch and keep the price
    same so that actual gain can be done.
Case Study on Giberson Glass Studio

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Case Study on Giberson Glass Studio

  • 2. PRESENTED BY:- GROUP NO. A5  Chandan Pahelwani (11047)  Himani Parihar (11049)  Nikita Bali (11004)  Sonia Dadlani (10022)  Sunny Bhuva (11010) Presented to:- Prof. Deepa Mishra
  • 3. GIST OF THE CASE  Giberson is well known in making different types of glasses.  Felicia coates,an MBA student visiting giberson’s glass studio.  She shadows upon financial statement of giberson’s which were previously taken care by Mrs.giberson which was neglected after their divorce.
  • 4. CONT…..  The main key concern point is that Giberson has no pricing strategy for the production.  His financial position is deteriorating.
  • 5. PROBLEM  Book keeping  Need of additional resources .  No pricing strategy.  Rapid deterioration of financial position.
  • 6. SWOT ANALYSIS • Qualit • Extra y cost(labour) • Sales • Operating cost • Orders • Need of additional financing Strength Weakness • Life span of facilities Opportunity Threats • Trade • Environmen shows taIssues • Information • Loosing al customers technology
  • 7. CRITERIA  Batch wise cost  Production time  Weekly production
  • 8. OPTIONS  To maintain batch wise profit.  Maintenance of accounts.
  • 9. OPERATING COST Cost per Operating Item Months month Costs Office Supplies $ 25 10 $ 250 Hand Tools/Manufacturing Supplies $ 150 10 $ 1,500 P/T Labor($5/hr) $ 100 10 $ 1000 Other Operating Costs $ 640 12 $ 7,680 Truck $ 205 12 $ 2,460 Furnace (GAS) $ 1,000 10 $10,000 Depreciation on Furnace (2 Years) $ 208 12 $ 2,500 Depreciation on Equipment (8 Years) $ 31 12 $ 375 Depreciation on Truck (5 Years) $ 142 12 $ 1,700 Depreciation on Gas Tanks (8 Years) $ 4 12 $ 50 Salary $ 2,083 12 $ 25,000 TOTAL $ 52,515
  • 10. TOTAL ANNUAL REVENUE Category Unit Price #Units Sales Pattern Glass $9 760 $6,840 Paperweights $15 400 $6,000 Wrapped Tumblers $8 1280 $10,240 Vases $25 320 $8,000 Total Annual Revenue $31,080
  • 11. Annual Loss COGS Revenue - (materials) - Operating Expense = Net Loss $31,080 - $857 - $52,515 = - 22,292
  • 12. ACTION PLAN  To find the relevant cost batch wise so that he can gains minimum margin profit.  Also he should maintain the books of accounts.
  • 13. MATERIAL BATCH WISE COST Cost per batch = 21.42 Total lbs. = 169 If Increase material used to 200 batch then 169 - - - 21.42 200 - - - - ?? = 25.35 CostBatch Total work Total Cost done in week Old 21.42 40 weeks 856.8 New 25.35 40 weeks 1014
  • 14. DECISION  To prepare the books of accounts.  To evaluate cost as per batch because they are doing batch wise costing.
  • 15. CONTINGENCY PLAN  To increase the cost batch wise so that profit can be easily maintained.  Reduce the units in batch and keep the price same so that actual gain can be done.