Creating a Budget Various budget approaches play an important role in resource allocation in human service organizations. You are the medical clinic administrator for three physician group clinics and you are preparing a budget matrix to be presented to the physicians. The matrix budget consists of line-item, functional, and
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The master budget of AXE company is based on a planned volume of activity of 5,000 units Revenues are $50,000 Variable costs $($35,000) Constribution margin $15,000 Fixed costs $ 5,000 A. If AXE actually produces 6,000 units, the flexible budget wuld show a total cost of: I ran the computation as fo
The type of budget that remains the same without respect to any operational or financial changes is called a. a balanced budget. b. a static budget. c. a flexible budget. d. a cost budget. During the month of July, McElroy Company's direct labor cost totaled $36,000, and direct labor cost was 60% of prime c
Barton Transportation Company's general manager reports quarterly to the company president on the firm's operating performance. The company uses a budget based on detailed expectations for the forthcoming quarter. The general manager has just received the condensed quarterly performance report shown in Exhibit 8-10. Please se
I need help with a power point presentation about a hypothetical personal finanacial situation showing a current budget and explaining the problems with it along with recomendations for a new budget, savings for retirement, children's education, and paying off loans through various financial tools.
Granger Stokes, managing partner of the venture capital firm of Halston and Stokes, was dissatisfied with the top management of PrimeDrive, a manufacturer of computer disk drives. Halston and Stokes had invested $20 million in PrimeDriver, and the return on their investment had been below expectations for several years. In a ten
Assuming you would like to purchase a new car next year, develop a personal budget for yourself or a friend for this year. Make sure to include a savings plan to save enough for a down payment, taxes, license, and insurance. Discuss the situations that might derail the budget along with a plan for your to deal with these issues.
Please see attached file. Utease Corporation has many production plants across the midwestern United States. A newly opened plant, the Bellingham plant, produces and sells one product. The plant is treated, for responsibility accounting purposes, as a profit center. The unit standard costs for a production unit, with overh
Question 4 John Nguyen a retailer of Super Shoes has produced the following data: Budgeted sales for $ January 2009 50,000 February 2009 45,000 March 2009 60,000 April 2009 70,000 - Shoes cost $3 a pair and are sold for $6 a pair - Closing stock at 31/12/2008 was $12500 - Accounts P
You are the new manager of the Betterbuy Electronics store in the Mall of America. Top management of Betterbuy Electronics is convinced that management training should include the active participation of store managers in the budgeting process. You have been asked to prepare a complete master budget for your store for June, Jul
Corporation manufactured 25,000 grooming kits for horses during March. The fixed-overhead cost-allocation rate is $20.00 per machine-hour. The following fixed overhead data pertain to March: Production: Actual - 25,000 units, Static Budget - 24,000 units Machine-hours: Actual -6,100 hours, Static Budget - 6,000 hours Fixe
Given the following information, describe the budget line for the consumer. Be sure to label the axis and provide a number for the vertical and horizontal intercepts. State the slope and its meaning. Income =$1000/ month Price of 1 pound of steak = $4.00 Price of 1 pound of potatoes = $0.50 Now, overlay several indiffe
1. Budgeting supports the planning process by encouraging all of the following activities EXCEPT ________. requiring all organizational units to establish their goals for the upcoming period increasing the motivation of managers and employees by providing agreed-upon expectations directing and coordi
See attached Excel file. Budgeted Costs for 5,000 Units Actual Costs Over(under) Per Unit Total Incurred Budget Variable manufacturing costs: Direct materials $30.00 $150,000.00 $171,000.00 $21,000.00 Diirect labor $48.00 $240,000.00 $261,500.00 $21,500.00 Indirect labor $15.00 $75,000.00
How does management use an operating budget? How do they use an activity-based budget? What are the similarities and differences between these types of budgets?
1. An organization plans to make a product in batches of 25,000 units. Planned production is 1,000,000 units, and actual production is 1,125,000 units. What are the planned (master budget) number of batches and the flexible budget number of batches? 2. The Sudbury, South Carolina plant of Saldahna Sports Company has the fo
Assume that your team is going to form a company that will manufacture chocolate chip cookies. The team is responsible for preparing a list of all product components and costs necessary to make this product. Required: Prepare a list of all product components and costs necessary to manufacture your cookies and identify each
Toymaster, Inc. produces a toy car TGC, in batches. After each batch of TGC is run, the molds are cleaned. The labor costs of cleaning the mold can be traced to TGC because TGC can only be produced from a specific mold. The following information pertains to June 2004: 1)Calculate the flexibility-budget variance for total c
William George is the marketing manager at the Crunchy Cookie Company. Each quarter, he is responsible for submitting a sales forecast to be used in the formulation of the company's master budget. George consistently understates the sales forecast because, as he puts it, "I am reprimanded if actual sales are less than I've proje
Preparing a Flexible Budget The flexible budget at the 70,000-unit and the 80,000-unit levels of activity is shown below. 70,000 Units 80,000 Units 90,000 Units Sales . . . . . . . . . . . . . . $1,400,000 $1,600,000 Cost of goods sold . . . . . . . . . 840,000 960,000 Gro
Prepare merchandise purchase in columnar form: The budget committee of Deaeon company collects the following data for its San Miguel Store in preparing budgeted income statements for May and June 2009. 1) sales for May are expected to be $800,000. Sales in June and July are expected to be 10% higher than the proceeding m
Assuming you would like to purchase a new car next year, develop a personal budget for yourself or a friend for this year. Make sure to include a savings plan to save enough for a down payment, taxes, license, and insurance. Discuss the situations that might derail the budget along with a plan for you to deal with these issues.
Master (static) budget is useful for all of the following except? Incorporating the impact of changing operating conditions. As a tool for initial planning. For use in coordinating efforts for the budget period. Assessing operation efficiency. All of the above are correct.
Exercise 11.1 The child and family government benefits seminar was such a success that Advocates for Children will conduct a second seminar in an adjoining community. The executive director decides that this second seminar will attempt to maximize revenues. Consequently, no reduced fee schedule will be offered. All trainees wil
Please see the attached file. Pappadeaux Restaurants: The Pappadeaux chain of restaurants is a well-known and popular series of various restaurants located primarily in the Southwest (http://www.pappadeaux.com/). Task: Now assume the following hypothetical facts. Last year Pappadeaux opened a new seafood restaurant in S
Compare and contrast sales budget and merchandise purchases budget. How is the sales budget prepared? How is the merchandise purchases budget constructed?
Hirsch Industries has sales in 2005 of $5,250,000(750,000 units)and gross profit of 1,587,500. Management is considering two alternative budget plans to increase its gross profit in 2006. Plan A would increase the selling price per unit from 7.00 to 7.60. Sales volume would decrease by 10% from its 2005 level. Plan B would decr
a) Prepare the 3 months Sales Budget for Surfer Shack Co. from the above information. b) Prepare the Production Budget for Surf Boards for Jan, Feb and March. c) Prepare the Direct Materials Budget for Jan, Feb and March 2008. d) Prepare the Direct labor budget for 3 months for Surfer shack Co. See the attached file.
Can you please provide me with an example of what a corporate budget should like?? What all is included in a corporations budget??
The Antigua Blood Bank, a private charity partly supported by government grants, is located on the caribbean island of antigua. The blood bank has just finished its operations for september, which was a particularly busy month due to a powerful hurricane that hit neighboring islands causing many injuries. The hurricane largely b