Assignment-budget planning and control

Assignment Help Finance Basics
Reference no: EM131201868

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.

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 (3 - 4) page paper in which you address the following.

1. 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.
2. 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.
3. Create three (3) new products, one (1) for each of the three (3) 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.
4. 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.
5. 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.
6. Integrate relevant information from at least three (3) 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.
• 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.

The specific course learning outcomes associated with this assignment are:Grading for this assignment will be based on the quality of your responses, logic and organization of the paper, and language and writing skills. Please review the Rubric for the Assignment: Budget Planning and Control.

What is the reason behind this

Geotechnical Instrumentation is frequently employed for monitoring the condition of reclamation. Sometimes two piezometers are installed inside the same borehole.

Return net cash inflows

What is the incremental cash flow for a company that foregoes \$6,000 pa in rental for factory space in order to mamnufacture a product that will return net cash inflows os \$

Minimum amount of wealth

How much would \$1 invested daily, perfectly, in Apple stock, for the past year, have made? what you calculated to be the guaranteed minimum amount of wealth at the end, assu

Methods by quality of information for decision making

Compare the results of the three (3) methods by quality of information for decision making. Using what you have learned about the three (3) methods, identify the best projec

Determining the valuable budgeting tool

Why is the NPV method for budgeting accepted as the most valuable budgeting tool? If you were not allowed to use NPV for a budget you were developing, what other method(s) w

Problem regarding the unbiased expectations theories

According to the unbiased expectations theories, what does the market expect the 1-year Treasury rate to be eight years from today, E(9r1)? (Do not round intermediate calcul

Compute the standard deviation

The past five monthly returns for PG&E are -3.55 percent, 4.83 percent, 4.15 percent, 7.04 percent, and 3.96 percent. Compute the standard deviation of PG&E's monthly return

Problem regarding the average monthly return

The past five monthly returns for PG&E are -3.47 percent, 4.63 percent, 4.07 percent, 6.92 percent, and 3.88 percent. What is the average monthly return? (Round your answer