Assignment Operating Budgets_KristinRice

8. Which of the following expenses would not appear in cash budget? Depreciation expense Marketing expense Interest expense а. b. с. d. Wages expense Information technology has made it easier for Amazon.com's managers to perform all of the following tasks except 9. а. preparing performance reports that identify variances between actual and budgeted revenues and costs. combining individual units' budgets into the companywide budget. sensitivity analyses. removing budgetary slack from the budget. b. с. d. 10. A company prepares a five-year budget. This budget would be considered a(n) strategic budget operational budget master budget flexible budget а. b. с. d.

Planning and Control Many companies use budgets for three purposes. First, they use them to plan how to deploy resources to best serve customers. Second, they use them to establish challenging goals, or stretch targets, to motivate employees to strive for exceptional results. Third, they use them to evaluate and reward employees. Assume that you are a sales manager working with your boss to create a sales budget for next year. Once the sales budget is established, it will influence how other departments within the company plan to deploy their resources. For example, the manufacturing manager will plan to produce enough units to meet budgeted unit sales. The sales budget will also be instrumental in determining your pay raise, potential for promotion, and bonus. If actual sales exceed the sales budget, it bodes well for your career. If actual sales are less than budgeted sales, it will diminish your financial compensation and potential for promotion. Required: 1. Do you think it would…

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Assignment Details The chief financial officer (CFO) discussed your analysis and strategy with the executive team and feels that you are the perfect person to work on the corporate budget. Based on the current external environment, the organization has limited resources, and each department has been asked to reduce costs. Based on your experience, answer the following questions: What type of costs should the departments reduce first and why? How can the organization prevent budgetary slack in the budgeting process since the bonuses of managers are tied to the budget? What are some potential ethical issues all organizations deal with in the budgeting process? What are some ways of dealing with these potential problems?

Label each item below with a “B” if it describes a benefit of budgeting or a “Not B” if it describes a potential negative outcome of budgeting.

All of the following are necessary for budgets to be effective except Select one: a. Employees affected by a budget should be consulted when it is prepared. b. All budgeted amounts must be spent to ensure that budgets arent reduced for the next period c Coals should be challenging and attainable O d Managers must be aware of potential negative outcomes of budgeting. such as budgetary slack

2. State whether the following sentences are TRUE or FALSE ASTARINS # Statements 1 The production budget is typically prepared prior to the sales budget. One benefit of budgeting is that it coordinates the activities of the entire organization. The master budget is a network consisting of many separate budgets that are interdependent. Sales forecasts are drawn up after the cash budget has been completed because only then are the funds available for marketing known. 5 A sales budget is a detailed schedule showing the expected sales for the budget period; typically, it is expressed in both dollars and units of product. 2 3 4 TRUE or FALSE 3. Which of the following represents the normal sequence in which the indicated budgets are prepared? A. Direct Materials, Cash, Sales B. Production, Cash, Income Statement C. Sales, Balance Sheet, Direct Labor D. Production, Manufacturing Overhead, Sales 1280 4. Which of the following represents the correct order in which the indicated budget documents…

1. Explain why a company needs these budgets used in #2 of your homework and how will they help the manager prepare for the next year? For example: ordering inventory, increasing or decreasing material costs so their sales will increase and cost decrease (labor, raw materials, or costs that pertain to operations)? Make sure to explain what each budget tells the manager.

R4 Assignment Saved Outdoor Outfitters has created a flexible budget for the 70,000-unit and the 80,000-unit levels of activity shown as follows. Complete Outdoor Outfitters's flexible budget at the 107,000-unit level of activity. Assume that the cost of goods sold and variable operating expenses vary directly with sales and that income taxes remain at 30 percent of operating income. 70,000 Units 80,000 Units 107,000 Units $ 1,400,000 $ 1,600,000 960,000 Sales Ask Cost of goods sold 840,000 Gross profit on sales 2$ 560,000 $ 640,000 Operating expenses ($90,000 fixed) 370,000 190,000 $ 410,000 Operating income Income taxes (30% of operating income) 230,000 57,000 69,000 Net income 133,000 $ 161,000 Mc Graw Hill

Which of the following statements is True?       a. Budget data are generally prepared by top management and distributed downward in anorganization       b. The budget committee is responsible for preparing detailed budget figures in anorganization       c. The primary purpose of the cash budget is to show the expected cash balance at the endof the budget period.       d. Under zero-based budgeting, a manager is required to start at zero budget levels each period, as if the programs involved were being initiated for the first time

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Preparing a financial budget—cash budget You recently began a Job as an accounting intern a Reilly Golf Park. Your first task was to help prepare the cash budget for April and May, Unfortunately, the computer with the budget file crashed, and you did not have a backup or even a paper copy. You ran a program to salvage bits of data from the budget file. After entering the following data in the budget you may have just enough information to reconstruct the budget. Reilly Golf Park eliminates any cash deficiency by borrowing the exact amount needed from First Street Bank, where the current interest rate is 6% per year. Reilly Golf Park first pays interest on its outstanding debt at the end of each month. The company then repays all borrowed amounts at the end of the month with any excess cash above the minimum required but after paying monthly interest expenses. Reilly does not have any outstanding debt on April 1. Complete the cash budget. Round interest expense to the nearest whole…

Help me answer Nos. 2-5 only please tutors. Thank you

a. Based on the static budget report:1. What was the primary cause(s) of the loss in net income?2. Did management do a good, average, or poor job of controlling expense?3. Were management’s decisions to stay competitive sound?b. Prepare a flexible budget report for the year.c. Based on the flexible budget report, answer the three questions in part (a) above.d. What course of action do you recommend for the management of Alps Pastures

budgetary control system and explain how the problems are likely to reduce the effectiveness of the system. 2. Explain how Ferguson & Son Manufacturing Company's budgetary control system could be revised to improve its effectiveness. (CMA, adapted) CASE 8-33 Master Budget with Supporting Schedules LO8-2, LO8-4, LO8-8, LO8-9, LO8-10 You have just been hired as a new management trainee by Earrings Unlimited, a distributor of earrings to various retail outlets located in shopping malls across the country. In the past, the com- pany has done very little in the way of budgeting and at certain times of the year has experienced a shortage of cash. Since you are well trained in budgeting, you have decided to prepare a master budget for the upcoming second quarter. To this end, you have worked with accounting and other areas to gather the information assembled below. misin ynsamos sill The company sells many styles of earrings, but all are sold for the same price-$10 per pair. Actual sales of…