Reference no: EM13180406
As the manager of the marketing department, you are being asked for the first time to develop a department budget. The accounting department has supplied you with the following projected information about how this year, 20XX, will end up for your department's spending.
Before you begin the process, your manager and you have sat down to develop broad planning objectives for the upcoming year, which you will need to incorporate into the budget. These include
• a doubling of trade show spending.
• an increase of the sales force by 25%.
• an expected sales volume increase of 10%.
• an expected increase of 4% of all expenses due to inflation.
• no anticipated selling price changes for next year.
You need to do the following:
A. for each of the listed expenses:
• identify whether you would treat them as a fixed or variable cost
• explain the reasoning for your classification
B. based on the historical information and the planning you did for new marketing programs for the upcoming year, prepare a budget for the upcoming year by completing the table:
1. In the 20XX+1 column, fill in budgeted figures.
2. In the next column, when appropriate, adjust that amount for inflation.
3. Complete the next column based on the projected volume increase.
4. In the last column, briefly explain how you arrived at the budgeted figure.
• Understand how fixed and variable costs behave and how to use them to predict costs, analyze a mixed cost using the high-low method and prepare an income statement using the contribution format.
• Understand why organizations budget and the processes they use to create budgets, and recognize situations that present potential ethical and legal issues and develop solutions for those issues.
|
Which currency the euro or yen would you consider riskier
: Suppose the dollar exchange rates of the euro and the yen are equally variable. The euro, however, tends to depreciate unexpectedly against the dollar when the return on the rest of your wealth is unexpectedly high, while the yen tends to apprecia..
|
|
Does the sequence converge or diverge and why
: find the limit of the sequence {an} = 3n^2+1/n^2-2. also, does the sequence converge or diverge and why? does the series converge or diverge and why?
|
|
Explain what an electronic medical record
: Explain what an electronic medical record is, summarize the major features and benefits of EMRs, detail the importance of practice management, and address how software may assist office personnel in practice management.
|
|
What are the pros and cons of each of these methods
: Quadratic equations may be solved by graphing, using the quadratic formula, completing the square, and factoring. What are the pros and cons of each of these methods? When might each method be most appropriate? Which method do you prefer? Explain ..
|
|
Income statement using the contribution format
: Understand how fixed and variable costs behave and how to use them to predict costs, analyze a mixed cost using the high-low method and prepare an income statement using the contribution format.
|
|
Demonstrate the process with an example
: Explain, in your own words, how to evaluate a polynomial for a given value of the variable. Demonstrate the process with an example.
|
|
Interviewing strategy
: This paper can serve as your wish list for an interviewing strategy. Suppose that you are in charge of creating an interviewing strategy for your current or most recent workplace. What would it be? How would it be implemented? What would be the desir..
|
|
What is the financial charge and amount financed
: What is the financial charge and amount financed?
|
|
Determine the effect on current dollar-euro exchange rate
: Traders in asset markets suddenly learn that the interest rate on dollars will decline in the near future. Use the diagrammatic analysis of this chapter to determine the effect on the current dollar/euro exchange rate, assuming current interest ra..
|