Assignment Content<\/p>\n
The purpose of this assignment is to evaluate and prepare a budget.\u00a0
\nResources: Excel File. Tutorials and links to Excel help files were provided during week one of our class.\u00a0\u00a0\u00a0\u00a0
\nInstructions:
\n1. Download the Excel file provided.\u00a0\u00a0\u00a0
\n2. Read the instructions tab.
\n3. Complete the Budget and Variance Analysis tab.
\n4. Submit the completed Excel file.<\/p>\n
General Instructions:\u00a0Download the Excel file provided.\u00a0Your responsibility is to, in part, prepare the 2020 budget using prior year data and the information included with the instructions tab.
\n1.\u00a0Actual column:\u00a0compute the break even in units and dollars.\u00a0Compute the margin of safety.
\n2.\u00a0Flexible Budget column:\u00a0Complete the 2020 Flexible Budget column incorporated with the budget and variance analysis tab.\u00a0The flexible budget includes several changes to the data.\u00a0The changes are listed in the Excel file \/ Instructions Tab.
\n2a.\u00a0Compute variances.
\n2b.\u00a0Explain the variances.
\n2c.\u00a0Compute the break even in units and dollars.\u00a0\u00a0
\n2d.\u00a0Compute the margin of safety.
\nThe format used is a variable costing income statement.
\nExcel:\u00a0In order to minimize errors, improve accuracy, and increase efficiency use formulas in all cells. If you need Helpance with Excel review the week one questions thread. Included therein are several options to help you advance your Excel skills such as, in part, formula overview, basic math skills, and Excel essential training (week one learning activities).\u00a0\u00a0
\nVideo: In order to gain experience and insight please review the following video. It is a simple presentation and will help everyone develop a basic understanding of flexible budgets. The video was created by a third party. There are additional videos included with the Bing search as well.\u00a0
\nFlexible Budget Example
\nFlexible Budget Guidance:\u00a0For additional information regarding flexible budgets please review the following.
\nWhat is a flexible budget?
\nBased on the example, fixed expenses do not change with volume. Contrary, variable expenses change with volume.\u00a0With respect to the case study the same principles apply.\u00a0The only difference is that our variable expenses will change based on sales volume instead of machine hours.
\nExample:
\nSales Volume 2,800
\nFeed cost per animal\u00a02.75
\nTotal feed cost = 2,800*2.75=7,700
\nAdvertisement, Bedding and Specialty Food Expense:\u00a0Advertisement is a fixed expense at the 2,800 volume level (column F).\u00a0As a result, column F, row 22 is equal to -0-.\u00a0However, the expense is considered a mixed cost (fixed and variable) with the flexible budget (column H). Bedding and specialty food does not apply to the actual results (column F).\u00a0As a result, column F, rows 23 and 24 is equal to -0-.\u00a0For further clarification my suggestion is to read the instructions tab.
\nVariance and Variance Explanation:\u00a0A variance is the difference between two numbers.\u00a0From a budget perspective we compare actual business results to our budget.\u00a0Material deviations are analyzed to help us plan, in part, revenue project ( help with nursing paper writing from experts with MSN & DNP degrees)ions, expense levels, cash flow, and to make informed business decisions.\u00a0
\nCalculate the variance for all items listed on the spreadsheet (i.e. sales, all variable and fixed expenses, contribution margin, net income, and the break even computation).
\nColumn J:\u00a0Enter the difference between actual results and the budget.
\nColumn L:\u00a0Explain the difference.<\/p>\n","protected":false},"excerpt":{"rendered":"
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