Reference no: EM131433391
Assignment
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.
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 LABabycakesstore 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 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.
4. The owner ofBabycakesis 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 thatBabycakesis 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 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.
The specific course learning outcomes associated with this assignment are:
• Evaluate management control systems and examine their relationship with accounting and planning, including feedback and non-?nancialperformance 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.
|
Spending accounts or arrangements play in approach
: Describe the consumer-driven approach and explain the role that spending accounts or arrangements play in this approach. Discuss the basic concept of insurance. how does this concept apply to disabilities and life
|
|
Design a visual classroom environment plan
: Design a visual classroom environment plan (1,000-1,250 words) that includes the physical arrangement and organization of materials and resources. Be creative; there are no money or size constraints.
|
|
Explain competitive landscape of the american cancer society
: Explain the competitive landscape of the American Cancer Society. How might an effective marketing strategy prove to be a competitive advantage for it?
|
|
Describe primary issues of adolescence according to erikon
: Describe the primary issues of adolescence according to Erikson. Be sure to comment on issues like adolescent egocentrism, the imaginary audience, personal fables, and an illusion of vulnerability.
|
|
Prepare a sales budget for the lababycakesstore
: Prepare a sales budget for the LABabycakesstore for the 4th quarter of 2016.Present the number of units, sales price, and total sales for each month; include October, November, and December.
|
|
Freedom of speech and censorship
: Freedom of speech and censorship, in light of the modern digital landscape, are important concepts to consider, especially given the dubious ways in which technology can be utilized sometimes.
|
|
Traditional and agile schedule developments
: As we have seen, traditional and Agile schedule developments are quite different. Agile project management was originally developed to do software development. Could a traditional process be successfully used to develop a new software program? Why..
|
|
Develop a schedule for a project
: To develop a schedule for a project, we will use the concept of a project network, which shows work activities taken from the work breakdown structure and is organized according to the logical flow in time and relationships governing when the work..
|
|
The issue of whether capitalism is effective and ethical
: The issue of whether capitalism is effective and ethical or imbalanced and unethical is controversial. some say it is good for economic activity (benefiting the entire national economy because the wealthy are "job creators" while other say it is unfa..
|