Green Pastures Static Budget Income Statement ACC/561 Version 7 University of Phoenix Material Green Pastures Static Budget Income Statement For the Year Ended December 31, 2017 Actual Master Budget 52 60 8U 19,000 21,900 2,900 U $380,000 $547,500 $167,500 U Feed 104,390 109,500 5,110 F Veterinary Fees 58,838 65,700 6,862 F Blacksmith Fees 4,984 5,475 491 F Supplies 10,178 12,045 1,867 F Total Variable Expenses 178,390 192,720 14,330 F Contribution Margin 201,610 354,780 153,170 U Depreciation 40,000 40,000 -0- Insurance 11,000 11,000 -0- Utilities 12,000 14,000 2,000 F Repairs and Maintenance 10,000 11,000 1,000 F Labor 88,000 95,000 7,000 F Advertisement 12,000 8,000 4,000 U Entertainment 7,000 5,000 2,000 U Number of Mares Number of Boarding Days Sales Difference Less: Variable Expenses Less: Fixed Expenses Total Fixed Expenses 180,000 184,000 4,000 F Net Income $21,610 $170,780 $149,170 U Copyright © 2017 by University of Phoenix. All rights reserved. 1 Managerial Analysis Grading Guide ACC/561 Version 7 Accounting Copyright Copyright © 2017 by University of Phoenix. All rights reserved. University of Phoenix® is a registered trademark of Apollo Group, Inc. in the United States and/or other countries. Microsoft®, Windows®, and Windows NT® are registered trademarks of Microsoft Corporation in the United States and/or other countries. All other company and product names are trademarks or registered trademarks of their respective companies. Use of these marks is not intended to imply endorsement, sponsorship, or affiliation. Edited in accordance with University of Phoenix® editorial standards and practices. Managerial Analysis Grading Guide ACC/561 Version 7 Individual Assignment: Managerial Analysis Purpose of Assignment This comprehensive case requires students to evaluate a static budget and prepare flexible budgets to meet managerial needs. Students are required to calculate and analyze variances and discuss how variances are critical to managerial decision making. Resources Required Generally Accepted Accounting Principles (GAAP) U.S. Securities and Exchange Committee (SEC) Tutorial help on Excel® and Word functions can be found on the Microsoft® Office website. There are also additional tutorials via the web offering support for Office products. Green Pastures Static Budget Income Statement Grading Guide Content Based on the static budget report answered the following questions: o What was the primary cause(s) of the loss in net income? o Did management do a good, average, or poor job of controlling expenses? o Were management’s decisions to stay competitive sound? Prepared a flexible budget report for the year. Based on the flexible budget report, answered the following questions: o What was the primary cause(s) of the loss in net income? o Did management do a good, average, or poor job of controlling expenses? o Were management’s decisions to stay competitive sound? Answered the following question: • What course of action does student recommend for the management of Green Pastures? Showed work in Microsoft® Word or Excel®. Completed calculations/computations using Microsoft® Word or Excel®. Met Partially Met Not Met Comments: 2 Managerial Analysis Grading Guide ACC/561 Version 7 Content Met Partially Met Not Met Total Available Total Earned 105 #/105 Partially Met Not Met Total Available Total Earned 45 #/45 150 #/150 Comments: The examination is a minimum 700-to 1050words in length. Writing Guidelines Met The paper—including tables and graphs, headings, title page, and reference page—is consistent with APA formatting guidelines and meets course-level requirements. Intellectual property is recognized with in-text citations and a reference page. Paragraph and sentence transitions are present, logical, and maintain the flow throughout the paper. Sentences are complete, clear, and concise. Rules of grammar and usage are followed including spelling and punctuation. Assignment Total Additional comments: # Comments: 3
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