Preparing a direct materials budget: It takes 3 pounds of direct materials to produce the Regular product and 5 pounds of direct materials to produce the Deluxe product. It is the company's policy to maintain an inventory of direct materials on hand at the end of each month equal to 30% of the next month's production needs for t
Assume you are a field marketing professional, responsible for marketing your company's products in the South Florida region of a medium-size corporation. One day you receive a CD from your corporate marketing group (based in Detroit, Michigan) which includes a set of electronic files containing print advertisements ready for yo
You are interested in developing a budget but are struggling with the basics - do the numbers have to be exact? Can a budget have any flexibility in it? First, define what a budget is. Then develop a list of basic ground rules to budgeting that will help you or anyone you know create a good budget. Be sure to include a savings p
Master budget and departmental budget process at Cadence and Cross; behavioral implications of the way the budget was prepared.
Five years ago, Jack Cadence left his position at a large company to start Advanced Technologies Co. (ATC), a software design company. ATC's first product was a unique software package that seamlessly integrates networked PCs. Robust sales of this initial product permitted the company to begin development of other software produ
A master budget is a compilation of forecasts for the coming year or operating cycle made of various departments or function within an organization. What is the most important forecast made in a master budget? List the reasons for your answer. Which budgets must managers prepare before they can prepare a direct materi
Why do you think companies make the mistake of only paying close attention to the static budget? Is it just not wanting to spend the time and money? Or do you think it they are unaware of the importance of the flexible budget?
10.23 Analyzing contribution margin changes. The Diaz Company, which sells hard hats for construction, provided the following data for years 1 and 2: Year 1 Year 2 Sales Volume 14,000 hats 10,000 hats Sales Revenue 1,750,000 1,500,000 Variable Costs (1,470,000) (1,050,000) Contribution Margin
Go Fly a Kite Kite, Inc. manufactures and sells kites. They sell their kites to retailers throughout the United States. They have three products. One product, which is appropriately named "Childs Play", is intended for kids and other beginner kite flyers. Another product, which is named "The Challenger" is intended for semi
"The flexible budget is a poor benchmark. You should develop a budget and stay with it." Discuss this concept..
If the department's cost exceeds the budget, employees do not get a bonus. What problems could arise?
A company rewards its production department employees for meeting budgeted cost levels by giving out bonuses. If the department's cost exceeds the budget, employees do not get a bonus. What problems might arise with such a plan?
See attached file. The manager of Crafts needs to have information about how switching to level production will affect the company's profits and loan need. Assumptions for pro formas and the cash budget. Switching to level production will not affect Sales, Accounts Receivables, Long-term Debt, or Net Plant and Equipme
Choose a proposal type and select a specific budget that aligns with the proposal type. Write a paper describing how the two align. In addition, compare and contrast the four principles of design and discuss which principle would be most applicable for your proposal style and budget. Budgeting and Putting a Proposal Tog
1. Preparing the Budget Assume you are the financial director of a clinic that is a part of an organization named Getwell Clinics Incorporated. Your clinic?named after you?serves a suburban community with a population of about 24,000, of which 25% are expected to become patients of the clinic. Each patient is expected to aver
Master Budget The results of operations for the Preston Manufacturing Company for the fourth quarter of 2007 were as follows (in thousands): Sales $590,000 Less variable cost of sales 354,000 Contribution margin 236,000 Less fixed production costs $118,000 Less fixed selling and administrative expenses 59,00
Birchem Company sells electric razors. The purchasing department manager prepared the following inventory purchases budget. Birchems policy is to maintain an ending inventory as 10% of the following months cost of goods sold. Octobers budgeted cost of goods sold is $85,000.
I) Chapter 20 - problems P20-2A and P20-4A pg. 1039 ii) Chapter 21 - problem P21-2A pg. 1092 Big Top Co. is preparing its annual budgets for the year ending December 31, 2008; the data is shown below. Product CZ 50 Product CZ 60 Sales budget: Antici
TipTop Flight School offers flying lessons at a small municipal airport. The school's owner and manager has been attempting to evaluate performance and control costs using a variance report that compares the planning budget to actual results. A recent variance report appears below:
See attached file. P23-4A Haas Company prepares monthly cash budgets. Relevant data from operating budgets for 2009 are: January February Sales $350,000 $400,000 Direct materials purchases 110,000 130,000 Direct labor 90,000 100,000 Manufacturing overhead 70,000 75,000 Selling and adm
See Attached Spreadsheet As a sales manager, Shawn Keyser was given the following static budget report for selling expenses in the clothing department of Dunham Company for the month October. As a result of this budget report, Shawn was called in the President's office and congratulated on his fine sales performance. He wa
The systems consulting department of Johnson Swimwear designs data collecting, encoding, and reporting systems to fit the needs of other departments within the company. An overall cost driver is the number of requests made to the systems consulting department. The expected variable cost of handling a request was $500, and the nu
JKS manufactures a single product that sells for $60 each. JKS's static budget estimated that 1,200 units would be produced and sold this past month. The actual number of units produced and sold totaled 1,500. Based on these data and the data given below, complete the flexible budget: Actual Price Variance Fle
Assignment 3c Part 1). Suggest the best graphic to use for presenting the situations below. Part 2). Choose A or B and construct the graphic you think best represents the situation. A. Carrie wanted to know how many miles she walked as she went about her everyday activities during a regular five-day
Hello. I need assistance in putting together an international travel itinerary: -------------------------------------------------------------------------------------- Vacation in a geographic area included for a family of three. This may be a cruise, land tour package or independent itinerary. The experiences preferences to de
Keel company's fixed overhead costs for the year are expected to be as follows: Depreciation, $72,000; supervisory salaries, $92,000; property taxes and insurance, $26,000; and other fixed overhead, $14,500. Total fixed overhead is thus expected to be $204,500. Variable costs per unit are expected to be as follows: direct mater
Identify the order in which the following budgets are prepared. Use the letter a to indicate the first budget to be prepared, b for the second, and so on. 1. Production Budget 2. Direct Labor Budget 3. Direct Materials purchases budget 4. Sales Budget 5. Budgeted balance sheet 6. Cash Budget 7. Budgeted income statemen
What are some of the different types of budgets? Describe in detail one type of budget including its use.
What are some of the different types of budgets? Describe in detail one type of budget covered in the text. Describe what the budget is used for and what information it provides a business.
Hi, Could you help me with this assignment ? Thanks Expand your one year departmental budget to a five year plan with the following assumptions: 1. Starting with year two, increase all personnel related line items by 2% per year through year five. 2. Starting with year two, assume a 5% increase in all other line items th
Hi you helped me with an assignment on Oct 07, 2009 9:35 pm)#274401 Based on that could you help me with the following: Tks (1) Apply the global accounting principles such as (College Income, Current Exp., Additions to Capital Stock, Operating Costs, and Wealth -EOY) To this Budget: how would this change the budget
Using the template provided, prepare a one year working budget for a educational department( health education for example). If you wish to add additional line items to the template, please feel free to do so. Outcome: Demonstrate knowledge of budget preparation and risk management in higher education. Learning Objective
Many areas must be considered when developing a healthcare operations budget. To accurately assess revenue and cost considerations, strategic forecasting must be performed. Each type of healthcare business (i.e., hospital, health plan, facility other than a hospital) has its own issues to consider when forecasting. Discu