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Heinz Case

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H.J. Heinz Company

A Managerial Accounting Perspective

Jarrod Brinker
Mita Harkness
Michelle Panatex
Kathy Rodriguez
Michel Valbrun

Memo

1 DESCRIPTION OF BUSINESS

1.1 Identification and mapping of processes

2 METHODOLOGY

2.1 Explanation of Methodology

2.2 Effort in Methodology Refinement

3 REGRESSION ANALYSIS

3.1 Predictive Analysis

3.2 Interpretation of Findings

4 COST-VOLUME-PROFIT ANALYSIS

4.1 Breakeven Analysis

4.2 CVP Chart

4.3 Interpretation of Findings

5 ACTIVITY-BASED COSTING

5.1 Identification of indirect activities and drivers

5.2 Communication and explanation of drivers

6 ANNUAL PROJECTIONS

6.1 Revenue/expense budget factors

6.2 Cash planning implications

6.3 Sensitivity to macroeconomic factors

6.4 Forecast uncertainty analysis

7 STRATEGY IMPLEMENTATION AND BALANACE SCORECARD

7.1 Strategy identification

7.2 Balanced scorecard development

7.3 Scorecard incentive issues

8 APPENDIX

8.1 Financial Reports

A. 10-K

Memo

To: William R. Johnson

From: Team 13

Date: 03/29/2010

Re: Key Findings

Below we explain the implications of the variances that I calculated. I would enjoy meeting with you to discuss whether we are following the most efficient policies, given these calculations. Please let me know if there is any way to improve my work or my presentation to you. 1. Our batch sizes for both setups and quality inspection were smaller than planned. Even though we were able to reduce the setup and quality inspection time needed for each batch (because of the smaller batch sizes), these gains were more than offset by the increased number of batches. Overall, we ended up substantially below the level of efficiency at which we wished to operate. 2. The hourly wage for the setup workers went over budget due to the tight labor market in our area for such employees. However, we saved a considerable amount of money because we were able to negotiate reduced wage rates for the quality inspection labor after the expiration of their previous contract.

Overall, given our output level of 15,000 eels, we had a moderately favorable variance for quality inspection costs, and a significant unfavorable variance on setups, for the reasons outlined above.

Thank you.

1 DESCRIPTION OF BUSINESS

H.J. Heinz Company (which will be referred to as the “Company” or “Heinz”) has been in business for more than 140 years and was founded by Henry J. Heinz.  Popular brands within these categories include Heinz Ketchup, Bagel Bites, and Heinz Nurture infant formula.  Heinz operates around the globe in five main segments, which are North American Consumer Products, Europe, Asia/Pacific, U.S. Food Service, and The Rest of the World.  Although all segments include the company's operations, the difference between North American Consumer Products and U.S. Food Service is that the North American Consumer Products segment principally manufactures and markets to grocery channels in the United States of America and includes their Canadian business while the U.S. Food Service segment does so to commercial and non-commercial food outlets and distributors in the United States of America.  Even with the recent economic global recession, in Fiscal 2009 Heinz had “record sales of over $10.1 billion and record high net income of $923 million[1].”H.J. Heinz Company is one of the largest global food manufactures. Despite the fact the Company’s slogan is “57 Varieties”, Heinz Company has been able to produce, market, and sell thousands of products around the world. The Company is most commonly known for its Heinz Ketchup which is sells over 650 million bottles each year. In addition to ketchup, the Company mainly produces condiments and sauces, frozen food, soups, beans and pasta meals, infant nutrition and other processed food products.... Show More

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