Prepare a monthly operating budget for the dmv

Assignment Help Business Management
Reference no: EM13875447

1. Prepare a monthly operating budget for the DMV for the fiscal year ending August 31, 2014. Determine the operating surplus and deficit for each month and for the year as a whole. Use one page or worksheet in your spreadsheet to list all of the base information, and another for the operating budget. [ Hint: It may be easier to prepare the budget if you add a third page or worksheet to calculate the number of transactions each month.]

2. To what do you attribute the changing surplus/ deficit pattern during the year?

3. What would happen to the overall deficit or surplus if the number of vehicles failing inspections increased from 15 percent to 30 percent? Keep in mind that vehicles must be re- inspected, so this would also increase the total number of inspections. Does this give the DMV a reason to make its standards tougher? Is this good policy?

4. Suppose the DMV can choose when to implement the new digitized licensing system.

a. What would happen to the finances of the DMV if the new licenses are implemented at the beginning of the year and issued throughout the year?

b. What would happen if the new licenses are not implemented at all during the com-ing year? In either case, assume the total number of licenses issued for any month does not change. Is that assumption realistic? How does it affect your results?

5. What other changes would you suggest that might help the DMV's situation?

What are the advantages and disadvantages of the various suggested changes? Select the approach that you believe is best, create a worksheet showing the resulting budget, and provide an explanation defending your choice of changes.

Reference no: EM13875447

Questions Cloud

Principles that govern the effectiveness of this process : Visit a fast food restaurant, coffee shop, or grocery store during a peak time of day. Spend 30 minutes observing the procedures in place to serve and process customers. Keep track of how long each process takes.
What is nicoles getaway spas gross profit percentage : Prepare journal entries for each transaction. Calculate the amount of Net Sales and Cost of Goods Sold for the transactions listed above. What is Nicole's Getaway Spa's gross profit percentage (round to one decimal place)? Explain to Nicole what this..
What are the key considerations that a brand : 1) What are the key considerations that a brand, such as the New York Times, need  to evaluate in their pricing strategies? 2)Are there different audience segments they are addressing?  3) Why is it so important today for newspapers  to understand th..
What kind of behaviors do its patients or clients exhibit : What kind of behaviors do its patients/clients exhibit when making a decision to use the organization's services? Might want to refer to the Health Service Model
Prepare a monthly operating budget for the dmv : Prepare a monthly operating budget for the DMV
The other team must prepare a presentation : Divide into two teams. One team must prepare a presentation advocating for the development of a standardized global code of conduct.
Marketing debate: is the right price a fair price : Marketing Debate: Is the Right Price a Fair Price? Prices are often set to satisfy demand or to reflect the premium that consumers are willing to pay for a product or service. Some critics shudder, however, at the thought of $2 bottles of water, $15..
Analyze the importance of having a competitive advantage : Analyze the importance of having a competitive advantage in health care
Sales and prices of a new package delivery service : Sales and prices of a new package delivery service offered by a logistics company for the first 29 weeks are given below. Estimate the appropriate demand function for sales using regression analysis to obtain an estimate of price elasticity. What rec..

Reviews

Write a Review

Business Management Questions & Answers

  Is it time based logistics right strategy for organization

Illustrate what are the major business propositions for Woodmere also home help to consider in the evaluating this proposal? Is it time based logistics the right strategy for each organization?

  Solicited and unsolicited proposals

Discuss the differences between solicited and unsolicited proposals.

  Employee responsibility for financial reporting

The Dalphne Corporation evaluates employees with responsibilities for financial reporting for fulfillment of those responsibilities for compensation and promotion purposes. The company's policies support the idea that:

  Group dynamics explained in this solutiondescribe how you

group dynamics explained in this solutiondescribe how you believe individual performance in groups is affected by the

  Explain what is the best price to charge

Explain what is the best price to charge? Explain what will the breakeven be at the optimal price structure?

  A competition-based pricing strategy

A competition-based pricing strategy in which all the competitors in an industry follow the pricing practices of one or more dominant firms is known as?

  Important factor in modern supply chains

Supply Chains are only of any interest to customers when they go wrong. Therefore, Supply Chain Resilience is considered as a very important factor in modern Supply Chains

  Questionhenry clements is an associate of yours who has a

questionhenry clements is an associate of yours who has a car rental agency in a major metropolitan area. although his

  Cost behavior and drivers1 how do cost behavior and

cost behavior and drivers1. how do cost behavior and cost-drivers affect flexible budgets?2. the sales budget might be

  Critical comparison between using service contracts

Write a short report of no more than 750 words giving a critical comparison between using Service Contracts and Joint Venture agreements in the Oil and Gas industry.

  Leading a global organizationas a senior executive in a

leading a global organizationas a senior executive in a 21st-century organization evaluate how you would lead a global

  Case study - shutdown at eastland

Read the case study entitled, "Shutdown at Eastland"

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd