Boston Retails case Tutorial 5: Topic 4 (Budgeting) Week5 Master Budgets (Ch.11) Mt. Dandenong Bikes Group assessment task 2 Q&A Group Task 1 written Poster (10%) due in week 5’s class Tutorial 6 & 7: Topic 4 (Budgeting Cont.) Week 6&7 Cash Budgets (Ch.11) Mt. Dandenong Bikes cont. 11.1; 11.9; 11.10; 11.12; 11.5; 11.7; 11.14; Spreadsheet Task 11.24 (wrap up of master/cash budgets) Management Accounting and Business Textbook/Reading Reference Lecture
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Quiz 2 Answers (10 POINTS) Question 1 (2 points) The Hansen Company has 3 product lines of tires - X‚ Y‚ and Z with contribution margins of $3‚ $5‚ and $7 respectively. Management expects a sales mix as follows: 90‚000 units of tire X‚ 60‚000 units of tire Y‚ and 50‚000 tires of Z in September 2009. Hansen’s fixed costs are expected to be $552‚000 for the same month. 1. Determine the breakeven point in units for X‚ Y‚ and Z respectively 2. Determine the operating income at a total sales level
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While it is a good idea to have some cash saved for a rainy day having too much can be a negative for a business. For example extra cash can be used for expansion or investments‚ which in turn may generate for profit for the business. 3.26 Sales Budget Oct Nov Dec Quarter Budgeted unit sales 45 000 35 000 40 000 120 000 Selling price per unit x $6 x $6 x $6 x $6 Budgeted total sales revenue $270 000 $210 000 $240 000 $720 000 Expected cash collections: From Sept.a credit sales $120 000
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various budgets to achieve these objectives. b. the steps taken to ensure that objectives set down by management are attained. c. the steps taken to ensure that all parts of the organization function in a manner consistent with organizational policies. d. comparing budgeted and actual results and taking steps to remedy unacceptable variations. 2. Self-imposed budgets typically are
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corporate level‚ which operates on a cost centre basis. Different approaches toin the budget process for the divisions and the Aadministrative Sstaff Ooffices Responsibilities of the Aadministrative Sstaff Ooffices; Top management advice Advice to operating divisions and other staff offices. Operating divisions are free to accept or reject the advice; however‚ they rarely ignore it. Coordination among the divisions Budget of the administrative staff The Bbudgeting Ddepartment issues instructions and
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collecting cash. During the payment‚ the cash need occurs. Cash need should be covered by going into a debt. Cash budget is a primary tool in short-term financial planning. It is prepared after the operating budgets (sales‚ manufacturing expenses or merchandise purchases‚ selling expenses‚ and general and administrative expenses) and the capital expenditures budget are prepared. The cash budget starts with the beginning cash balance to which is added the cash inflows to get cash available. Cash outflows
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Ado Ekiti University‚Ado. Project on…. The analysis of the effectiveness of a management accounting technique in an organisational setting- With Reference to Guinness Nigeria Plc. 4988 Words TABLE OF CONTENT Title page Chapter one 1. Introduction 2. Decision-making and management accounting information 3. The concept of Budgeting and Budgetary controls
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Group 11: Nguyen Thi Thu Huyen Nguyen Thi Dieu Linh Mai Ngoc Tam Nguyen Lan Anh Case 8-22: Evaluating a company’s budget procedures 1. Identify the problems that appear to exist in Ferguson & Son Manufacturing Company’s budgetary control system and explain how the problems are likely to reduce the effectiveness of the system. Ferguson & Son Manufacturing Company has appointed Robert Ferguson‚ Jr.‚ the son of the president as the plant manager. He directed the company’s focus on budgetary control
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Zero Based Budgeting in the Planning Process Author(s): James C. Wetherbe and John R. Montanari Source: Strategic Management Journal‚ Vol. 2‚ No. 1 (Jan. - Mar.‚ 1981)‚ pp. 1-14 Published by: Wiley Stable URL: http://www.jstor.org/stable/2485987 . Accessed: 08/03/2014 05:12 Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use‚ available at . http://www.jstor.org/page/info/about/policies/terms.jsp . JSTOR is a not-for-profit service that helps scholars
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| |Costs incurred directly as a result of providing a specific service or good | |Centers charged with controlling costs and generate revenue | |Have no revenue budget and no obligation to earn revenue | |Costs that do not vary as service volume varies | |Fixed over some range of service volume‚ but rise to a new level
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