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Question Description


Assignment: Budget Planning and Control

Due Week 9 and worth 200 points

Before approaching this assignment, be sure that you have watched the following video.

Babycakes, a specialty bakery, is the company that will be considered for all parts of your budget planning and control report. For this assignment, you will develop a three to four (3 – 4) page paper in which you address the following.

  1. Briefly discuss the ways a realistic budget will benefit the owner of Babycakes versus having no budget at all. Be sure to use Babycakes as the company and any specific product details in your explanation.
  2. Prepare a sales budget for the LA Babycakes store for the 4th quarter of 2016. Present the number of units, sales price, and total sales for each month; include October, November, and December, and a total for the quarter.Use one-half of the Valentine’s Day sales as the basis for a usual day in the new quarter. Use 30 days for each month. Calculate the total sales for each month for October, November, and December.
  3. Create three (3) new products, one (1) for each of the three (3) holiday seasons in the 4th quarter. Estimate the sales units, sales price, and total sales for each month. Describe the assumptions used to make these estimates. Include an overview of the budget in the report, presenting the actual budget as an appendix with all data and calculations. Add these amounts to your sales budget.
  4. The owner of Babycakes is interested in preparing a flexible budget rather than the static budget she currently uses. She does not understand why, when sales increase, her static budget often shows an unfavorable variance. Explain how a flexible budget will overcome this problem. Use the details of your newly prepared budget for the 4th quarter of 2016 to address her concern.
  5. Imagine that Babycakes is facing a financial challenge that is causing the actual amount of money that it spends to become significantly more than its budgeted amount. Include a discussion of your own unique cause of the overspending. Explain the corrective actions needed to address these challenges.
  6. Integrate relevant information from at least three (3) quality academic resources in this assignment. Note:Please do not use your textbook as an academic resource. Also, Wikipedia and other Websites that are unreliable do not qualify as academic resources.

Your assignment must follow these formatting requirements.

  • Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; references must follow APA or school-specific format. Check with your professor for any additional instructions.
  • Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required page length.
  • An abstract is not required.

The specific course learning outcomes associated with this assignment are:

  • Evaluate management control systems and examine their relationship with accounting and planning, including feedback and non-financial performance measurements.
  • Evaluate decision-making tools for capital investments, budgeting, and budgeting controls.
  • Analyze financial accounting tools and techniques that convert financial accounting data into information for decision making.
  • Use technology and information resources to research issues in financial accounting for managers.
  • Write clearly and concisely about financial accounting using proper writing mechanics.

Tutor Answer

TheRoyalProfessor
School: Boston College

Attached.

Running head: BUDGET PLANNING AND CONTROL

Budget Planning and Control

Name;

Institutional Affiliation

Author Note

1

BUDGET PLANNING AND CONTROL

2

Budget Planning and Control
Ways through Which Realistic Budget Benefits Babycakes Owner vs having no Budget at
all
Babycakes owner will benefit from a budget in diverse ways. First, through budgets, the owner
will plan effectively for the future. Budgeting provides a way through which the owner
formulates plans on how to get supplies for the future. Without a budget, such future
arrangements would be difficult to implement.
Second, the owner is able to prepare for the peak demand periods through budgeting by
preparing the employees for the days of flourishing business. Through the budgets, the workers
will work harder than accustomed to provide enough products to effectively cover the emerging
demand. However, without a budget, such planning would not be possible.
Third, the owner will be able to minimize resulting waste of products through effective
budgeting. Budgeting enables the Babycakes owner to anticipate the average number of daily
consumers and the amount of cakes capable of satisfying the customers with little or no surplus.
Without such a budgeting program, the resulting wastes would be massive (Broderick, 2017).
Sales Budgets for LA Babycakes for the Month October, November and December
The sales budget for the quarter is calculated as follows:
Average Sales on a Usual Day= 750 Units
Price per Unit= $ 3.50
Number of Days in a ...

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Review

Anonymous
Tutor went the extra mile to help me with this essay. Citations were a bit shaky but I appreciated how well he handled APA styles and how ok he was to change them even though I didnt specify. Got a B+ which is believable and acceptable.

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