Reference no: EM131332257
Assignment: Budget Planning and Control
Before approaching this assignment, be sure that you have watched the following video.
Budgetary Planning featuring Babycakes *FULL VIDEO*. (2016). YouTube. https://www.youtube.com/watch?v=frh3I2rVDzs
Babycakes, a specialty bakery, is the company that will be considered for all parts of your budget planning and control report. For this assignment, you will develop a three to four page paper in which you address the following.
• Briefly discuss the ways a realistic budget will benefit the owner of Babycakes versus having no budget at all. Be sure to use Babycakes as the company and any specific product details in your explanation.
• Prepare a sales budget for the LA Babycakes store for the 4th quarter of 2016. Present the number of units, sales price, and total sales for each month; include October, November, and December, and a total for the quarter. Use one-half of the Valentine's Day sales as the basis for a usual day in the new quarter. Use 30 days for each month. Calculate the total sales for each month for October, November, and December.
• Create three new products, one for each of the three holiday seasons in the 4th quarter. Estimate the sales units, sales price, and total sales for each month. Describe the assumptions used to make these estimates. Include an overview of the budget in the report, presenting the actual budget as an appendix with all data and calculations. Add these amounts to your sales budget.
• The owner of Babycakes is interested in preparing a flexible budget rather than the static budget she currently uses. She does not understand why, when sales increase, her static budget often shows an unfavorable variance. Explain how a flexible budget will overcome this problem. Use the details of your newly prepared budget for the 4th quarter of 2016 to address her concern.
• Imagine that Babycakes is facing a financial challenge that is causing the actual amount of money that it spends to become significantly more than its budgeted amount. Include a discussion of your own unique cause of the overspending. Explain the corrective actions needed to address these challenges.
• Integrate relevant information from at least three quality academic resources in this assignment. Note:Please do not use your textbook as an academic resource. Also, Wikipedia and other Websites that are unreliable do not qualify as academic resources.
Your assignment must follow these formatting requirements.
• Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; references must follow APA or school-specific format. Check with your professor for any additional instructions.
• Include a cover page containing the title of the assignment, the student's name, the professor's name, the course title, and the date. The cover page and the reference page are not included in the required page length.
An abstract is not required.
1. The specific course learning outcomes associated with this assignment are:
2. Evaluate management control systems and examine their relationship with accounting and planning, including feedback and non-?nancial performance measurements.
• Evaluate decision-making tools for capital investments, budgeting, and budgeting controls.
• Analyze financial accounting tools and techniques that convert financial accounting data into information for decision making.
• Use technology and information resources to research issues in financial accounting for managers.
• Write clearly and concisely about financial accounting using proper writing mechanics.
Describe your program objectives and goals
: Describe your program objectives and goals, the need, target audience, address the health problem, and any intervention strategies
|
Calculate present value of firm tax saving due to new debt
: Value the present value of a firm’s tax saving due to new debt that they will add for an add on project that will last for three years. The project will add debt today of 75 million and they will reduce debt on a fixed schedule to 50 million in year ..
|
Big sky must pay for insurance-property taxes
: 100% of the purchase price, or it can lease the machinery. Assume that the following facts apply: 1. The machinery falls into the MACRS 3-year class. 2. Under either the lease or purchase, Big Sky must pay for insurance, property taxes, and maintenan..
|
Compare martin luther kings letter from birmingham jail
: Compare Martin Luther King's Letter from Birmingham Jail and WEB DuBois' The Souls of Black Folk with the experiences of the farmworkers in the Fair Tomatoes video. Explain how the farmworkers might experience an invisible barrier in the United S..
|
Estimate the sales units sales price and total sales
: Create three new products, one for each of the three holiday seasons in the 4th quarter. Estimate the sales units, sales price, and total sales for each month.
|
Raise all your capital by borrowing
: This year you are planning to raise all your capital by borrowing. Your assistant says that you should evaluate new investments this year using the cost of debt only. Is he/she correct? Why or why not?
|
Analyze different social and cultural view of healthy human
: Write a paper about analyzing different social and cultural views of healthy and unhealthy human sexuality.Select two historical perspectives on human sexuality listed in the text.Select one contemporary cultural perspective on human sexuality liste..
|
Player i have on the payoffs to the players at equilibrium
: Player I knows which matrix was chosen, but Player II does not know which matrix was chosen. What effect does adding information to Player I have on the payoffs to the players at equilibrium?
|
Advantages and the disadvantages of a merger
: What are the advantages and the disadvantages of a merger? In your response, provide an example of either - a merger that was successful, or one that was unsuccessful. Must be 600-700 words
|