Below are the solution: Question 1 Prepare a new contribution report for February‚ in which: * The static budget column in the contribution report is replaced with a flexible budget column. * The variances in the contribution report are recomputed as the difference between the flexible budget and actual columns. Answer Particulars | Static Budget | Flexible Budget | Actual | Variance | Unit (pounds) | 200000 | 225000 | 225000 | 0 | Revenue | 1600000 | 1800000 | 1777500 |
Premium Management accounting Variable cost Contribution margin
Strange Meeting It was mid morning when I was sitting in the park‚ as I looked across the way I saw an object that resembled a wallet. I walked over just to see what it was‚ and sure enough it was a woman’s wallet. Popping the latch open‚ I examined to see if there was any sort of identification that could lead to the real owner. Sure enough there was a Colorado drivers license. The wallet belonged to an eighteen year old‚ red haired‚ brown eyed‚ Jessica Sheldon. Jessica seemed like your average
Premium Woman Black-and-white films Student
Assignment Grading Criteria Budget Management Analysis Week Five 1. Write a 1‚200- to 1‚500-word paper‚ which includes a cost variance‚ in which you complete the following: Determine specific strategies to manage budgets within forecasts. Zero based (analyzes every expense within an organization and justifies the need and cost of each)‚ activity based (is the gathering of the operating cost data‚ which is assigned to specifc activies such as engineering) performance based (performance dashboard
Premium Expected value Variance Budget
Health Care Budget HCS/577 July 27‚ 2015 Professor Michelle Gomillion Health Care Budget Most entities and organization create budgets as a guide for controlling its spending‚ prediction of profit‚ and it expenditure as they progress toward a set goal. Budget involves pulling resources together to achieve a specific goal. According to Gapenski (2006)‚ budgeting is an offshoot in a planning process. A basic managerial accounting tool use in holding planning and control functions together is referred
Premium Management Budgets Planning
Advantages and disadvantages of a master budget Advantages of a master budget are: a. It gives an idea where a company wants to go (its goal).. b. It determines what the company has to do in order to achieve this goal. c. It helps the company to realistically project future cash flows. d. This cash flow will enable the company to get certain types of financing. In short a master budget formalizes planning‚ provides an framework for judging performance and it helps managers to communicate and
Premium Management Budgets Income statement
Meetings are ... when‚ Minutes are kept‚ and Hours are wasted ! Managing Effective Meetings Mario Fonseka FCMA‚ Dip. M (UK)‚ FSCMA‚ MBA (Merit) Group Discussion: What are the Critical Aspects to ‘focus’ on‚ if one is to conduct an effective meeting ? Key Areas for a Successful Meeting • Why meet ? Is a meeting essential ? • Planning the meeting • Role and importance of an ‘Agenda’ • Role of the ‘Chair’ of the meeting • Making ‘Minutes’ more meaningful and useful • Encouraging member
Premium Management Meeting
this assignment with the following assumption. * That the company does not have accurate budget * That Rada plc have different departments of their business in different area of the world. For an organisation not to have an accurate budgeting is like working without any plan because budget take an important role in the day to day running of a business and also most importantly the future. Budget is important for the following reason * Planning of annual operation * Coordinating the
Premium Control theory Budget Budgets
flexible budget is a budget statement that shows what the expected costs should have been for any level of output‚ so that the actual costs can be compared to planned costs for the output that was actually generated. In a flexible budget‚ the costs are separated into variable and fixed costs. The more information that is provided to explain variances in budgeted and actual amounts‚ the easier it is for management to make successful decisions about costs and expenses. A flexible budget classifies
Premium Budget Budgets
Meeting Etiquettes Definition: Etiquette refers to good manners required by an individual to find a place in the society. It is important for an individual to behave appropriately in public to earn respect and appreciation. Why is meeting etiquette important? One must learn to maintain the decorum of the work place. It is important to respect one’s organization to expect the same in return. No one would ever take you seriously if do not behave well at the workplace. Meetings are an important
Premium Mobile phone Laptop Etiquette
Agenda of Meeting Definition: A meeting agenda is the list of items that participants hope to accomplish at a meeting. The agenda should be distributed to participants several days in advance of a meeting‚ minimally 24 hours‚ so that participants have the opportunity to prepare for the meeting. In combination with meeting minutes‚ the documentation that participants receive following a meeting‚ the agenda is the plan for the meeting and the reported follow-up for the prior meeting. When you develop
Premium Meeting