Our Services

Get 15% Discount on your First Order

Prepare a master budget and a flexible budget in this

August 2, 2022

Prepare a master budget and a flexible budget in this two-part assessment.

Introduction

Note: Accounting requires specific steps that need to be executed in a sequence. The assessments in this course are presented in sequence and must be completed in order.

A master budget is a management tool for planning. A flexible budget provides crucial information for differing levels of business activity.

A master budget is a formal planning tool used to chart the organization’s future. Compiling a master budget serves to provide the financial information needed to make decisions, choose strategies, and create action plans. A master budget also helps to communicate the organization’s expenses to all employees.

Overview

Note: Accounting requires specific steps that need to be executed in a sequence. The assessments in this course are presented in sequence and must be completed in order.

Instructions

This assessment has two parts.

Part A

For Part A, use the Master Budget Preparation Template [XLSX]. Based on the data in the template, which represents a company’s estimated balance sheet, prepare a complete master budget.

Part B

For Part B, use the Master Budget Preparation Template [XLSX]. Based on the data in the template, complete the problems on flexible budget preparation and computation of materials.

Competencies Measured

By successfully completing this assessment, you will demonstrate your proficiency in the course competencies through the following assessment scoring guide criteria:

Competency 1: Analyze cost accounting systems.
- Compute the cost for each variable overhead item and its total per-unit costs and the total fixed costs.
Competency 2: Apply sound budgeting principles.
- Construct a monthly selling expense budget.
- Construct a monthly general and administrative expense budget.
- Construct a monthly capital expenditures budget.
- Construct a monthly cash budget.
- Construct a budgeted income statement for a calendar quarter.
- Construct a budgeted balance sheet for a calendar quarter.
- Calculate the direct materials cost variance, including its price and quantity variances.
- Calculate the direct labor cost variance, including its rate and efficiency variances.
- Construct flexible overhead budgets for a calendar month.
Competency 4: Analyze financial statements.
- Construct a monthly merchandise purchases budget.
- Construct a monthly sales budget showing both budgeted unit sales and dollar sales.
- Construct a detailed overhead variance report that shows variances for individual items of overhead.
Competency 5: Communicate in a manner that is professional and consistent with expectations for professionals in the field of accounting.
- Communicate quantitative information accurately and effectively.

Share This Post

Order a Similar Paper and get 15% Discount on your First Order

Related Questions

Discuss the interactions between Henry and Catherine. Is Henry Tilney’s

Discuss the interactions between Henry and Catherine. Is Henry Tilney’s “teaching” of Catherine patronizing or bullying or is he just teasing her? Why does Henry feel the need to treat Catherine the way he does? Is Catherine open to his “help” or does she resist it? What effect does this have

As discussed in this section, many ethical issues are surrounding

As discussed in this section, many ethical issues are surrounding the use of social media. As social media becomes more integrated into our day to day lives, many people end up spending hours each day scrolling through their feeds. With the increased social media usage, many believe that addiction to

Define and briefly describe the different classes of microorganisms (including

Define and briefly describe the different classes of microorganisms (including the terms Eukaryotes and Prokaryotes): Eukaryotes – Algae – Fungi – Protozoans – Prokaryotes – Bacteria – Archae – Viruses – Prions – Define the four main types of organic molecules. Be sure to describe their function and give examples

Human Resources

Using the PCC Library’s Online Search Engine and its Business Source Premier Database, research and read an article about one of the major topics from Modules 3 & 4: Performance Management and/or Appraisals, High Performance Work Environments, or the role of Training and Development in high performance work environments. Instructions

Comparative Religion Essay – Premium Paper Help

Premium Paper Help is a professional writing service that provides original papers. Our products include academic papers of varying complexity and other personalized services, along with research materials for assistance purposes only. All the materials from our website should be used with proper references.

Case Studies – You will write a case analysis report for two assigned cases. These should each be submitted as a five section document for each case. For this course, please submit FIVE bullet points Nursing Assignment Help

Case Studies – You will write a case analysis report for two assigned cases. These should each be submitted as a five section document for each case. For this course, please submit FIVE bullet points per section (not narrative here) and DO NOT deviate from this format: • Section

Write an analysis in which you select two publicly-traded companies

Write an analysis in which you select two publicly-traded companies within the same industry and present the DuPont analysis for each of these companies. Write a research report that outlines the topics – Explain how the debt has served to influence the ROE DuPont performance results for each company you

PSYC 281 – Behaviour Modification Assignment Students will be responsible for constructing a behaviour modification program in which you will

PSYC 281 – Behaviour Modification Assignment Students will be responsible for constructing a behaviour modification program in which you will modify/change some type of behaviour using the various theories discussed in class. You can design this program with animal or human subjects and need not worry about ethical guidelines as

The field of public administration and nonprofit organizations

In this first assignment, you will select a policy issue and evaluate its impact. Select one (1) policy issue of interest to you, which will be used for evaluation for all of your assignments. Write a four to five (4-5) page paper in which you: Develop a brief overview (i.e.,

Overview: An effective presentation includes a summary of the main

Overview: An effective presentation includes a summary of the main points in the presentation slides, but the presenter adds additional content to unpack each point on the slides. This is where speaker notes are particularly useful. Some presenters have the capability of memorizing the details and being cued by the

Sabemos que la probabilidad de que un cliente compre un

Sabemos que la probabilidad de que un cliente compre un producto dado que fue impactado por anuncios es de .76. Se seleccionó una muestra de 200 clientes potenciales y 34 mencionaron que no comprarían el producto. Si seleccionamos aleatoriamente a una persona de la muestra, calcule la probabilidad de que

A critical analysis of the trends featured in “Left Behind America”

5-6 pages, double-spaced, 1-inch margins, 12-point font. Title page with your name, date, class and assignment title (Paper #1 is fine). The title page and the works cited page DO NOT count toward the page total. MLA format. If you are struggling with how to format information, I recommend Purdue

TASKClinical Practice GuidelinesPost your initial response to the topic belowClinical practice guidelines use available evidence to develop recommendations that guide practice to improve patient care. Nursing Assignment Help

TASKClinical Practice GuidelinesPost your initial response to the topic belowClinical practice guidelines use available evidence to develop recommendations that guide practice to improve patient care.Select a clinical practice guideline, based on your area of interest, from one of the web sites below or another site.Describe the following information from the

Ethical consideration is important in nursing practice, especially when providing care to patients from diverse sociocultural backgrounds. The population of the United States comprises various ethnic/ Nursing Assignment Help

Ethical consideration is important in nursing practice, especially when providing care to patients from diverse sociocultural backgrounds. The population of the United States comprises various ethnic/racial groups with different cultural and social beliefs, practice, norms, and values. There is an increasing disparities on the incidence and prevalence of type 2

HPI Mrs. Alfonso is a 48-year-old female patient who presented

HPI Mrs. Alfonso is a 48-year-old female patient who presented to the clinic with a progressive, intermittent right upper quadrant pain for the past 2 weeks and which has increased in severity in the past 2 days. The pain radiates to the right shoulder. She also complains of associated symptoms

Book Report # Name ________ Class Section Date

Book Report #__ Name ______________________ Class Section ____ Date ____________ Use the following template to write a 3 paragraph report about your A.R. novel. This template MUST be stapled on top of your writing. ALL grammar and writing rules apply and will be part of your grade. Remember, you

Research 1 disorder/disease of the Large Intestines. Remember to state

Research 1 disorder/disease of the Large Intestines. Remember to state the disease, What is the prefix and the suffix? (Ex. “Gastroenteritis.” Gastro: stomach — Enterisits: Inflammation of the intestines, especially the small intestines, usually accompanied by diarrhea.) Now, What are the symptoms? How is it diagnosed? How does it affect the

The New Benefit Plan

Answer the questions corresponding to the case study: 1. Draw up a policy statement regarding vacations, sick leave, and paid days off for Carter Cleaning Centers. 2. What would you tell Jennifer are the advantages and disadvantages to Carter Cleaning Centers of providing its employees with health, hospitalization, and life