Creating budget and annual operating budget assignment, Cost Accounting

Assignment Help:

This assignment will consist of developing a center-based financial operating budget. A break-even and Cash-flow projection are not required for this assignment. Students will develop the budget based on the following information.

  • Use the ages and numbers of children, staff salaries, etc. from the Staffing Patterns Project
  • Ratios: Use NH Licensing ratios
  • Assume the program is non-profit (so this is a break-even budget)
  • Food subsidy: student choice (current reimbursement rates and eligibility requirements can be found online)
  • Grant funding (i.e. United Way, other foundations, etc.): student choice
  • Use a Utilization Rate of 90% - utilization rate is the potential percentage of child care slots being used.  On Blackboard are articles with examples.
  • Other Expenses (use these dollar amounts):
  •  
    1. Rent:  Assume $2000 per month for rental property
    2. Insurance:  Assume $6,000 per year for property and liability insurance
    3. Utilities (electricity, phone, gas): Assume $1000 per month
  • Food, equipment, classroom supplies, maintenance, and cleaning - students will determine the budget for these categories
  • Other components to include:
  •  
    1. Initial  and/or annual registration/enrollment fees (to make up for income lost due to utilization rate)
    2. Fundraising
    3. Professional membership costs
    4. Non-teaching staff salaries
    5. Curriculum materials
    6. Replacement items, i.e. furniture, computers, books, etc.
    7. Field trips
    8. Marketing/Advertising
    9. Office Supplies
    10. Attorney on retainer
    11. Tax preparation services
    12. The need for part-time staff

To supplement the budget, students will include rationale for any line items with comments in individual cells (i.e. how the number was calculated, determined, or estimated). In Excel, it will be apparent that students have included a comment because of a small red triangle in the right-hand corner of a cell. Students will also provide a reflection in a Microsoft Word document that addresses the following questions/statements in 2 to 3 pages:

  • What did you find to be the challenges of creating this budget?  What, if any, were the rewards?
  • Discuss what, if anything, you learned from this process? 
  • Do you aspire one day to be in a position where you have the opportunity to create a budget for a child care center?

Related Discussions:- Creating budget and annual operating budget assignment

Cgs, asdfdf afd s

asdfdf afd s

Example of batch costing, Example of Batch Costing The budgeted variab...

Example of Batch Costing The budgeted variable overheads of a company for the year of 2001 are as given as: Department                Overhead (shs.)

Calculate average cost and marginal cost, Farmer Dorr figures that her fixe...

Farmer Dorr figures that her fixed costs are $2,000, and the relevant portion of her total cost curve is:                                           Thousands of

Week 2 Assignment, Please complete the following 7 exercises below in eithe...

Please complete the following 7 exercises below in either Excel or a word document (but must be single document). You must show your work where appropriate (leaving the calculation

Cost - terms used in cost accounting, Cost - Terms Used in Cost Accounting ...

Cost - Terms Used in Cost Accounting It measures the economic sacrifice created to achieve an organizations aims. For a product, cost represents the monetary measurement of re

Case study, what could it cost the fezas to launder?show your detailed culc...

what could it cost the fezas to launder?show your detailed culculation

calculate raw materials inventory value , Tony Allan Inc is a small manufa...

Tony Allan Inc is a small manufacturer of metal products in Toronto.  The company rents its factory building.  It uses a job order costing system because it has a wide variety of p

Estimate total money using marginal and average tax rate, Thomas Crown expe...

Thomas Crown expects to earn the following stream of annual income for the next four years:- $41,000; $45,000; $38,000 and $50,000. Although he has adopted the Pay Yourself First s

Controllable and non controllable costs, Controllable and Non Controllable ...

Controllable and Non Controllable Costs Controllable costs can be influenced on the level of authority at that they are being analyzed when non-controllable costs cannot.

Calculate the break-even in units under each option, o locate a store, but ...

o locate a store, but the location manager is not sure about the rent method to accept. The mall operator offers the following three options for its retail store rentals: 1. paying

Write Your Message!

Captcha
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