Prepare a variance analysis between budgeted

Assignment Help Applied Statistics
Reference no: EM131306935

Part A

1. Using the data in the Appendices regarding Cherokee Hospitality Equipment & Supplies business, complete the following:

a) List all personnel you would consult with in order to gain adequate advice prior to commencing your reports.

b) Determine management requirements

c) Prepare a 1 year budget & projected financial statement including:

d) Sales forecast, taking into account additional information in Appendix F

e) Estimated expenses / inventory costs

f) Estimated profits

g) Ensure report layout and format comply with management information requirements, are clear and error-free

Note: You must use appropriate spreadsheet or accounting software to undertake this task.

Part B

1. Using the data in the Appendices regarding Cherokee Hospitality Equipment & Supplies business, you are to compare their budgeted figures against actual figures located below:

Cherokee Hospitality Equipment & Supplies 1 year result:

Total Sales: $1,623,000

Total Purchases: $701,400

Total Expenses: $402,000e

You are to undertake the following:

a) Prepare a variance analysis between budgeted and actual figures

b) Ensure report demonstrates major differences and areas of underperformance

c) List the discrepancy and analyse it as a positive or negative one Locate the area and give at least 5 reasons why the discrepancy may have occurred

d) Utilise the data provided to determine the effectiveness of the cost budgeting techniques used

e) Give recommendations as to how their variance may be corrected for future budgets for the business. These recommendations should include systems to ensure mentoring and coaching.

The variance report should be submitted along with a written report detailing the answers to the above questions.

Attachment:- MYOB assignment.pdf

Reference no: EM131306935

Questions Cloud

Summarize the given case and research about it : Summary, Relevant research is summarized, with a clearly and logically stated theory.Transition and Development, There is a smooth and logical transition from research review to proposed study including a clear statement of purpose.Design Developm..
What are the biggest barriers to wide scale adoption : What do you think are the biggest barriers to wide-scale adoption of m-commerce by consumers? Who do you think is working on solutions to these problems and what might the solutions entail?
What is pattern seen in ice core records of carbon dioxide : What is the pattern seen in the ice core records of carbon dioxide and temperature in terms of high and low periods over the past hundreds of thousands of years (before modern human history?
What is the pressure inside the tank : The water level in the other side of the U-tube, open to the atmosphere, is 2 ft above the base. What is the pressure inside the tank
Prepare a variance analysis between budgeted : Prepare a variance analysis between budgeted and actual figures - List the discrepancy and analyse it as a positive or negative one Locate the area and give at least 5 reasons why the discrepancy may have occurred
Determine the resultant force of the water on the gate : A square gate, 4 m by 4 m, is located on the 45° face of a dam. The top edge of the gate is 8 m below the water surface. Determine the resultant force of the water on the gate, and the point through which it acts.
An investor with good knowledge of companys past record : As an investor with a good knowledge of the company's past record, to what extent do you attribute its performance problems to problems in its corporate governance?
Describe groundwater management challenges : Describe groundwater management challenges. Include in your description the types and sources of contamination, overdrawing and its effect on the water table.
Discuss the ethical dilemmas that this request raises : This will help them confirm or deny that this company is selling equipment that is used directly in the torture of political prisoners. Discuss the ethical dilemmas that this request raises and how you would react to this request.

Reviews

Write a Review

Applied Statistics Questions & Answers

  Hypothesis testing

What assumptions about the number of pedestrians passing the location in an hour are necessary for your hypothesis test to be valid?

  Calculate the maximum reduction in the standard deviation

Calculate the maximum reduction in the standard deviation

  Calculate the expected value, variance, and standard deviati

Calculate the expected value, variance, and standard deviation of the total income

  Determine the impact of social media use on student learning

Research paper examines determine the impact of social media use on student learning.

  Unemployment survey

Find a statistics study on Unemployment and explain the five-step process of the study.

  Statistical studies

Locate the original poll, summarize the poling procedure (background on how information was gathered), the sample surveyed.

  Evaluate the expected value of the total number of sales

Evaluate the expected value of the total number of sales

  Statistic project

Identify sample, population, sampling frame (if applicable), and response rate (if applicable). Describe sampling technique (if applicable) or experimental design

  Simple data analysis and comparison

Write a report on simple data analysis and comparison.

  Analyze the processed data in statistical survey

Analyze the processed data in Statistical survey.

  What is the probability

Find the probability of given case.

  Frequency distribution

Accepting Manipulation or Manipulating

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