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Budgeting and analysis

A company makes a product out of metal. They use two pounds of metal that costs them $20 per pound. They pay their employees $25 an hour and it takes an average of 1.3 hours for them to make the final product. They expect to sell 8,000 units. They also expect to incur $40,000 in fixed costs. Prepare the mastic static budget.

Preparing a Flexible Budget Report

Hannon Company expects to produce 1,200,000 units of Product XX in 2010. Monthly production is expected to range from 80,000 to 120,000 units. Budgeted variable manufacturing costs per unit are: direct materials $4, direct labor $6, and overhead $8. Budgeted fixed manufacturing costs per unit for depreciation are $2 and for supe

Prepare a master budget for January, February, and March

SIMID SPORTS COMPANY Estimated Balance Sheet December 31, 2011 Assets Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 18,000 Accounts receivable . . . . . . . . . . . . . . . . . 262,500 Inventory . . . . . . . . . . . . . . . . . . . . . . . . . . 75,000 Total current assets . . . . . . . . . . .

How to budget and plan for mixed costs; fixed costs per unit; costs vs expenses

1. True to their name, mixed costs have components of both fixed and variable costs. They have a fixed based cost regardless of your activity level and they have a piece that varies based on your level of production. An example would be an x-ray machine. There is a fixed cost piece for the depreciation and technician salary. The

Designing a Personal Budget Spreadsheet in Excel

1. Create and format a row to show the months for the year (Jan-Dec). 2. Create and format a row, beneath the month row, to show yearly income for each month (Jan-Dec),and properly label the row and value. 3. Add each expense in a separate row (as identified in step 4) and properly label each row and value. 4. For the expense

Preparation of Production budget for the Pletcher Company

See attachment: AE9-4 Pletcher Company produces and sells automobile batteries, the heavy-duty HD-240. The 2011 sales budget is as follows. Quarter HD-240 1 4,600 2 6,900 3 7,590 4 10,780 The January 1, 2011, inventory of HD-240 is 2,510 units. Management desires an ending inventory each quarter equa


Using the attached data and format from the budget tab create a flex-budget for the month of July using 3 or 4 different planned units of sales. Base your assumptions on several different factors: * The trends in actual sales shown at the bottom of the Budget tab * The activity levels needed to turn a profit since the June

Flexible budget analysis vs strategic-budget analysis

Why might managers find a flexible budget analysis more informative than a strategic-budget analysis? Explain your rationale. How might a manager gain insight into the causes of a flexible-budget variance for direct materials? Why might an analyst examining variances in the production area look beyond the business functi

MS Excel - Start up costs and six month projection

My made up business is "Now Hair This" beauty salon MS Excel - Create a Start up Budget and first 6 months operating expenses for your new Business using MS Excel. The Excel spreadsheet must include at a minimum the specifications listed below: a. Create two worksheets. The first worksheet should contain your expected expens

You are a School Social Worker at a High School in Atlanta, Georgia with an annual budget of $500 for programming expenses. You are notified by the Assistant Principal that a transgender student who is transitioning from male-to-female will be entering the junior class at the beginning of the following semester. She also has a sister that will be entering the sophomore class. The Assistant Principal assigned you with the task of organizing a response to ease the students' transition to their new school and into the student community. To your knowledge, this is the first time that a transgender student will be attending the High School and there have not been other experiences within the school district. The school is culturally diverse with various active religious clubs, including a Bible Study group and a Pride Alliance, that meet at lunchtime and afterschool. There is also an active Alumni organization that supports additional school programming with private funds. Questions: 1. What additional information would you need before implementing an intervention plan? 2. With whom would you consult and why? Who would seek to work with? 3. You have $200 of your budget left for this school year. Briefly discuss two possible approaches in addressing this challenge: (a) one approach should address the structural challenges in the high school setting, and (b) the other approach should address the students and the high school community.

You are a School Social Worker at a High School in Atlanta, Georgia with an annual budget of $500 for programming expenses. You are notified by the Assistant Principal that a transgender student who is transitioning from male-to-female will be entering the junior class at the beginning of the following semester. She also has a

Activity-Based Budget for Merit Industries; Banana Computer master budget

See attached files. Activity-Based Budget Merrit Industries Inc. has the following budget information available for February: Administration $40,000 Advertising $15,000 Assembly 1/2 hour per unit X $8 Direct materials 2 pounds per unit X $3 Inspection $200 per batch of 1,000 units Manufacturing overhead $2 per

Budget variance including flexible budget

Tylon's Hardware uses a flexible budget to develop planning information for its warehouse operations. For 20X9, the company anticipated that it would have 96,000 sales units for 664 customer shipments. Average storage bin usage for various inventories was estimated to be 200 per day. The costs and cost drivers were determined to


Compute variances for the following items and indicate whether each variance is favorable (F) or unfavorable (U). Item Budget Actual Variance F or U Sales revenue $580,000 $600,000 Cost of goods sold $385,000

Calculations of Direct Material and Flexible Budget Variances

This question is on variance analysis in managerial/cost accounting. More specifically, it asks for calculations of direct material price variance, direct material efficiency/usage variance, the flexible budget variance, and determining whether the variances are favorable or unfavorable.

Access and analyze the Budget of the United States

Budget of the United States government: The Office of Management and Budget provides access to the budget of the United States government at its Web site: "A Citizen's Guide to the Federal Budget" provides information about the budget and the budget process for the general public. A

Price, Efficiency, and Budget Variance

The following direct materials variance computations are incomplete: Price variance = ($? - $7) x 10,800 pounds = $5,400 U Efficiency variance = (? - 10,400 pounds) x &7 = ?U Flexible budget variance = $?

Production budget, operating expenses, standards, operating expense budget

1. The production budget uses all of the following except: a. the beginning inventory quantity. b. the inventory policy. c. the sales forecast. d. the cash receipts budget. 2. Operating expenses are best budgeted on the basis of knowledge about: a. relevant range. b. cost behavior patterns. c. current period bud

Budget schedules for a manufacturer

Sierra Furniture is an elite desk manufacturer. It makes two products: Executive desks 3 x 5 oak desks Chairman desks 6 x 4 red oak desks The budgeted direct-cost inputs for each product in 2009 are: Executive Line Chairman Line Oak top 16 square ft

Budget with rationale for non profit grant

Based on eight person occupancy including live-in residential advisor. BUDGET WORKSHEET MONTHLY YEARLY MANAGEMENT: Live In Residential Advisor @ 15.00 $2220 $26640 (waive $700 per month or $8400 per year deducted for rent and food Benefits: none LABOR: Daily Child Care @ 11.60 $1856 $22272 FACILITY:

Budget techniques

Discuss budgeting techniques. Is a top down or bottom up approach preferred and why? What is a flexible budget versus a static budget? What is a spending variance and a activity variance? Are variances necessarily bad 383 words

Case Study - MMWC Mead Meals on Wheels Center

Mead Meals on Wheels Center You may make whatever assumptions you think are necessary. Be sure to state every assumption explicitly. Problem 1 The Mead Meals on Wheels Center (MMWC) provides two meals per day to the homebound elderly. The Town of Millbridge pays MMWC $32 per week for each person it services for the wee

Flexible Budget Performance REport

(TCO C) The following overhead data are for a department of a large company. Actual costs Static Incurred budget Activity level (in units) 800 750 Variable cos