www.StudentWhiz.com 1. Why are budgets useful in the planning process? • They enable the budget committee to earn their paycheck. • They provide management with information about the company's past performance. • They help communicate goals and provide a basis for evaluation. • They guarantee the company will be profitable if it meets its objectives. 2. A common starting point in the budgeting process is • a clean slate, with no expectations. • expected future net income. • past performance
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(Q1)second quarter (Q2)and the fourth quarter (Q4)are generally 30% less than Q3. .In Q2 alteration is to be made in repair and maintainance,so repair and maintenance budget for Q2 is needed 90%.so the repair and maintenance budget is 11250 which was 12500 earlier. Master budget with profit projections. Big Red Bicycle Pty Ltd Master Budget FY 2011/2012 FY Q1 Q2 Q3 Q4 REVENUE Commissions (2% sales) 60,000 15,000 15,000 15,000 15,000 Direct wages fixed 200,000 50,000 50,000 50,000 50,000
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SOCIAL JUSTICE According to Wampler (2012), who based his study of PB in Brazil, PB was initially introduced in the 1980s to address the issue of political exclusion and corruption of Brazil’s military dictatorship in hope for political renewal. This program functions primarily upon the participation of its citizens, including those that have no political access, on the allocation of public resources and the use of state authority. He states that the citizens are forced to make choices regarding
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Part I: The Operating Budget for the City of Kyle Texas PAD 505 Public Budgeting and Financ Introduction The city of Kyle, Texas is on its way to becoming a full service community with targets to continue to grow their quality healthcare, higher education, and retail industries for the benefit of the local residents. According to the City Kyle website, Kyle is home to over 60,000 persons with a projected growth rate of
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a written strategic plan; how operating and planning budgets differ; does the company have a budget committee or one person who develops the budget; how is budget guidance issued to the budgeting team/person; how often does the company develop a budget; when during their fiscal year do they prepare the budget for the next budget period. The company I interviewed has a yearly operating and planning budget. They use their budget numbers from
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Q1. Develop a new budget and justify your expenses for each of the five budgeted expense areas. Sales Department: No. of sales force (new recruits) 6 Total Salary for new joinees 450000 Total Salary of Existing Sales Reps 1500000 Total Salary for Sales Force 1950000 For additional sales of $2,000,000 , we need to recruit 6 sales force. (Considering the fact that each new joinee makes a sales of $4000,000 ) The total budget required for sales department is $1,950,000. Production Department:
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privately owned. It is June 2013, and Anne Wright, general Manager of Winbald, is worried about her companies’ substantial underperformance against budget. She needs to understand what has happened, and what might be the best courses of action. The Case Study gives several information on the sales and costs budgeting process as well as the final budget of the company. Furthermore, the Case Study requires an evaluation of the budgeting process as well as a final suggestion (based on two possible courses
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Question 1: Budgetary Planning and Control. Budgets are used primarily as a planning tool. It helps to give a business direction, taking the organization’s goals and objectives and translates it into tangible aims. It shows how a company intends to utilize or acquire resources in other to achieve its objectives; either in the short or long term. Apart from the use of budget as a means for performance evaluation, directing and problem solving, it is essentially a business’ future financial plan which
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|$7,500 | Part (a) Prepare the pizzeria’s planning budget for February assuming that 1,500 pizzas are served. Part (b) Assume that 1,600 pizzas were served in February. Prepare a flexible budget for this level of activity. Part (c) Actual results for February appear below. Prepare a flexible budget performance report for the pizzeria for February. |Revenue |$18,800
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Accounting 202 TTH 11:00-12:30 Paying People to lie Michael’s C. Jensen’s paper explains that the use of budgets or targets to measure an organization’s performance and compensation leads to counterproductive effects within organizations. Jensen believes that the solution to this problem is not to completely eliminate the budgeting systems, but instead to change the way performance is measured, the way rewards are given, and the way punishment is applied. In budgeting systems, managers are generally
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