Description
I need help with assignments in Public Administration MBA program.......
User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.
Explanation & Answer
Review
Review
Anonymous
Great! 10/10 would recommend using Studypool to help you study.
Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4
24/7 Homework Help
Stuck on a homework question? Our verified tutors can answer all questions, from basic math to advanced rocket science!
Most Popular Content
Financial/Managerial Accounting for International Executive, writing homework help
ACTi 6691
Financial/Managerial Accounting for International
Executive
Case
In this case a full set of budgets wil ...
Financial/Managerial Accounting for International Executive, writing homework help
ACTi 6691
Financial/Managerial Accounting for International
Executive
Case
In this case a full set of budgets will be
prepared and presented in appropriate format.
Reports will be prepared to explain how budget numbers were
determined. The following are general requirements for this
budget case. Specific requirements are
listed after the relevant case data.
·
Read the case and analyze the
information.
·
Prepare an operating budget in
standard “income statement” format.
·
Prepare a narrative report (or
notes to the income statement) addressing why/how quantitative items were
selected. The following items must be
explained:
1.
Sales Forecast
2.
Purchases budget (raw
materials, labor, all resources)
3.
Operating Expenses
·
Prepare a cash budget using any
acceptable format. The following items
must be explained or shown on the budget:
1.
The process by which cash
inflows were projected.
2.
The process by which cash
outflows were projected.
3.
The process by which financing,
if applicable, was determined.
4.
How interest and other
financing charges were calculated.
·
Prepare a capital budget using
any acceptable format.
You will be graded on your understanding of
the underlying concepts related to determining budget amounts (for example, how
purchases are determined) as well as your ability to prepare and explain standard
business reports. The rubric attached as
the last page of this document will be used to grade the case.
Harvey’s Budget1
Harvey Manufacturing manufactures and sells
two industrial products: a
self-balancing screw driver and a self-balancing saw. Both products are manufactured in a single
plant.
Harvey’s general manager, Mr. Lipscomb, and
president, Mr. Owens, want a budget prepared for the fiscal year 2013. They have asked various employees to gather
information that they believe will be necessary for preparation of a
budget. The information is presented
below.
Neither Mr. Lipscomb nor Mr. Owens is
skilled in budget preparation. Both
executives have used budgets and have participated to some degree in budget
preparation in prior years, but neither has prepared a full budget.
Sales and selling price per unit
Historical sales for 2012 the two products are
shown below.
Harvey’s sales typically peak in the summer
months, beginning with May. Harvey’s
general manager, Mr. Lipscomb, recommends that the budget be prepared with the
units sold in the high sales months of May, June, and July be used as the bases
for determining the annual forecast. Mr.
Lipscomb’s recommendation is that annual sales be budgeted at 64,000 per month
for screwdrivers and 42,000 per month for saws.
Mr. Lipscomb also believes that the
budgeted selling price per unit should be equal to the highest selling price
that could be achieved in 2012. He would
like to budget 102 per unit for screwdrivers and 130 per unit for saws. Mr. Lipscomb states that his management team
experimented with pricing in the prior year, beginning with the first month of
the year.
You review the unit sales and unit selling
price information for 2012 and recommend a budget based on 60,000 units of
screwdrivers at 100 each and 40,000 units of saws at 125 each. Mr. Lipscomb challenges your conclusion. Likewise Mr. Owens, the company president, would
like to hear an explanation of the budget numbers and how or why you calculated
those numbers.
Production Requirements
Each unit produced requires the following
materials, labor, and overhead, all of which is variable.
Inventories
Inventories are listed below. The beginning inventories are the actual
amounts on hand at the beginning of the year.
The ending inventories shown are the amounts that the operations manager
has determined to be necessary to ensure smooth production processes.
Other information
Fixed
manufacturing overhead
Fixed
manufacturing overhead is 214,000, including 156,000 of non-cash expenditures.
Fixed
manufacturing overhead is allocated on total units produced.
Beginning cash
is 1,800,000.
Sales are on
credit. Sales are collected 50 percent
in the current period and the remainder in the next period. There are no bad debts.
Sales for the
last quarter were 8,400,000.
Purchases for
direct materials and labor costs are paid for in the quarter acquired.
Manufacturing
overhead expenses are paid in the quarter incurred.
Selling and
administrative expenses are all fixed and are paid in the quarter incurred.
Estimated
selling and administrative expenses for the next period are 340,000 per
quarter, including 90,000 of depreciation.
REQUIREMENTS:
1. Prepare a sales budget in good form.
2. Prepare a narrative report explaining how your
sales budget was determined. Use the
table above in your analysis.
(Hint: Many companies would
develop their budgets using average sales and average unit costs.)
Whatever budget
determination method you use should be explained. In your explanation, you should include a
discussion of why you believe sales and selling prices fluctuated last year.
3. Prepare a production budget in units.
4. Prepare a purchases budget.
Remember that you will need to purchase enough materials to have the
required ending inventories shown. You
will also need to purchase enough to manufacture and sell the products on your
sales forecast. Do not forget that you
have beginning inventories.
5. Prepare a narrative report explaining how you
prepared the purchases budget. Be as
detailed as necessary to be sure that the president and general manager will
understand the calculations and costs.
6. Prepare a budgeted income statement.
7. Prepare a
contribution margin income statement.
8. Prepare a narrative report explaining how the
expenses on the income statement were determined.
9. Prepare a cash
budget. Be sure that you show all cash
inflows and outflows.
10. Prepare a narrative report explaining your cash
budget process.
11. If necessary,
prepare a capital expenditure budget. Explain your entries. Use only the facts in this case to prepare
the budget.
Summary:
Your finished case will consist of six or seven budgets (a
sales budget, a production budget in units, a purchases budget, a budgeted
income statement, a contribution margin income statement, a cash budget, and,
if necessary, a capital expenditure budget.)
You will also have four or five narrative
reports (a sales budget report, a purchases budget report, an income statement
report, a cash budget report, and an explanation of your capital budget, if
necessary).
Narrative reports are reports that are in
the form or a white paper that clearly explains the numeric entries on your
budgets. The length of the narrative
reports will depend on the particular report.
In general, you should be able to prepare the sales budget report on one
or two pages, the purchases budget report on one or two pages, the income statement
report on one page, and the cash budget report on one page. In this case, the capital budget report would
be less than one page. You should not
worry if one of your reports is more or less than the recommendation given
here—just be sure you cover all of the important points and satisfactorily
explain the numeric entries in your budget.
Also, be sure you explain the process of “how” your numbers were
determined. In this regard, it is not
necessary or desirable to explain the exact calculations. Consider your audience and prepare a report
that would be suitable for executives making plans and decisions for the
upcoming year.
1Harvey’s budget is adapted from a published case. (Source and citation are available upon
request to faculty only).
MBAi
6691
Date Scored
Student:
Case Grading Rubric
Criteria
for Case
Meets
Expectations
Partially
Meets Expectations
Fails
to Meet Expectations
Comments/Score
Content
Analysis (worth 40% of the case grade)
Analysis
addresses all aspects of case in sufficient depth.
Analysis
addresses most aspects of case in sufficient depth.
Analysis
does not address most aspects of case and/or fails to do so in sufficient
depth.
Content
Solution (worth 40% of the case grade)
Described
solution demonstrates an understanding and correct use of problem solving
skills
Described
solution demonstrates a sufficient level of problem solving abilities but
fails to address correctly as aspects of the case.
Described
solution does not demonstrate an acceptable level of problem solving
abilities and the ability to use case information correctly.
Presentation
Style (worth 20% of the case grade)
No
significant errors in presentation style, consistent with case requirements
and consistent with business standards
Errors
in presentation style, compliance with case requirements, and normal business
standards
The
presentation was limited, demonstrated a minimal effort to meet case
requirements and present your solution in an acceptable business style.
Late
Submission - 10% per day regardless of the reason for the late submission.
Total Points
4 pages
Scholarly Activity Summary Template
The health care system adopted in a particular area therefore has a lot of impetus with regards to the implementation of t ...
Scholarly Activity Summary Template
The health care system adopted in a particular area therefore has a lot of impetus with regards to the implementation of the evidence based model of ...
3 pages
Socw6311 Discussion Week Nine
Post a description of the process evaluation that you chose and explain why you selected The process evaluation I chose in ...
Socw6311 Discussion Week Nine
Post a description of the process evaluation that you chose and explain why you selected The process evaluation I chose involved client satisfaction ...
8 pages
HIM1103 Rasmussen Module 1 Coding Foundations CMS Organization Quiz
CMS is an organization that oversees private insurance companies. CAHIIM is an organization that oversees what type of org ...
HIM1103 Rasmussen Module 1 Coding Foundations CMS Organization Quiz
CMS is an organization that oversees private insurance companies. CAHIIM is an organization that oversees what type of organization? Different ...
13 pages
Week 6 Cnl 545 Design Two Interventions Obj. 6.1 And 6.2
• Case study 1 involves mass shooting at an elementary school, while Case • Provide step-by-step description of each i ...
Week 6 Cnl 545 Design Two Interventions Obj. 6.1 And 6.2
• Case study 1 involves mass shooting at an elementary school, while Case • Provide step-by-step description of each intervention plan and ...
University of Phoenix Ethical Issues in Research Proposal
As you develop a research proposal, you must consider the ethical issues related to it.Determine the ethical consideration ...
University of Phoenix Ethical Issues in Research Proposal
As you develop a research proposal, you must consider the ethical issues related to it.Determine the ethical considerations related to the research question you developed in Week 1.Consider the seven main principles of ethical research introduced in this week's learning activity, Research Ethics Guidance:Social and clinical valueScientific validityFair subject selectionFavorable risk-benefit ratioIndependent reviewInformed consentRespect for potential and enrolled subjectsSummarize the ethical issues related to your topic in one of the following formats:18- to 20-slide presentation15- to 20-minute oral presentation875-word paperAnother format approved by your instructorCite at least one peer-reviewed and one evidence-based resource in APA format.Submit your assignment.ResourcesCenter for Writing ExcellenceReference and Citation GeneratorGrammar and Writing GuidesLearning Team ToolkitCopyright 2018 by University of Phoenix. All rights reserved.
Similar Content
sales cycle, assignment help
Sales CycleAssume you invented a new plastic-shaping technology that allows plastic products to be manufactured much more ...
Ethical Dilemma Matter of Abortion Research Paper
Search online for your local news website and locate local a story where you
believe an ethical dilemma is going on. Plea...
FIN571 Phoenix Behavioral Challenges in Achieving Efficiency Discussion
The purpose of this assignment is to allow the student an opportunity to explain what it means to have an efficient capita...
I need paraphrase the answers of the case
I need paraphrase the answers of the case. Same meaning with different words....
Criminology Today: An Integrative Introduction 5th edition, assignment help
According to your textbook, what have research studies in the field of genetics had to say about
possible causes of crim...
The Gospel According to John. When and where was this document written?
Discuss question around 100 to 150 words. "The Gospel According to John"...
a_review_of_fruity_phone_mobile_ca..
Many times people have looked for easier ways to lose out weight, but until reality dawns on them weight loss cannot be ac...
Understanding Aggressive Child Adolescent Behaviors
• Most Parents, who are the target audience for this At the end of this presentation I would like to answer one...
Related Tags
Book Guides
The Aftermath
by Rhidian Brook
The Nightingale
by Kristin Hannah
The Hobbit
by J. R. R. Tolkien
Fences
by August Wilson
Cry the Beloved Country
by Alan Paton
Steppenwolf
by Hermann Hesse
The Call of the Wild
by Jack London
As I Lay Dying
by William Faulkner
The Secret Garden
by Frances Hodgson Burnett
Get 24/7
Homework help
Our tutors provide high quality explanations & answers.
Post question
Most Popular Content
Financial/Managerial Accounting for International Executive, writing homework help
ACTi 6691
Financial/Managerial Accounting for International
Executive
Case
In this case a full set of budgets wil ...
Financial/Managerial Accounting for International Executive, writing homework help
ACTi 6691
Financial/Managerial Accounting for International
Executive
Case
In this case a full set of budgets will be
prepared and presented in appropriate format.
Reports will be prepared to explain how budget numbers were
determined. The following are general requirements for this
budget case. Specific requirements are
listed after the relevant case data.
·
Read the case and analyze the
information.
·
Prepare an operating budget in
standard “income statement” format.
·
Prepare a narrative report (or
notes to the income statement) addressing why/how quantitative items were
selected. The following items must be
explained:
1.
Sales Forecast
2.
Purchases budget (raw
materials, labor, all resources)
3.
Operating Expenses
·
Prepare a cash budget using any
acceptable format. The following items
must be explained or shown on the budget:
1.
The process by which cash
inflows were projected.
2.
The process by which cash
outflows were projected.
3.
The process by which financing,
if applicable, was determined.
4.
How interest and other
financing charges were calculated.
·
Prepare a capital budget using
any acceptable format.
You will be graded on your understanding of
the underlying concepts related to determining budget amounts (for example, how
purchases are determined) as well as your ability to prepare and explain standard
business reports. The rubric attached as
the last page of this document will be used to grade the case.
Harvey’s Budget1
Harvey Manufacturing manufactures and sells
two industrial products: a
self-balancing screw driver and a self-balancing saw. Both products are manufactured in a single
plant.
Harvey’s general manager, Mr. Lipscomb, and
president, Mr. Owens, want a budget prepared for the fiscal year 2013. They have asked various employees to gather
information that they believe will be necessary for preparation of a
budget. The information is presented
below.
Neither Mr. Lipscomb nor Mr. Owens is
skilled in budget preparation. Both
executives have used budgets and have participated to some degree in budget
preparation in prior years, but neither has prepared a full budget.
Sales and selling price per unit
Historical sales for 2012 the two products are
shown below.
Harvey’s sales typically peak in the summer
months, beginning with May. Harvey’s
general manager, Mr. Lipscomb, recommends that the budget be prepared with the
units sold in the high sales months of May, June, and July be used as the bases
for determining the annual forecast. Mr.
Lipscomb’s recommendation is that annual sales be budgeted at 64,000 per month
for screwdrivers and 42,000 per month for saws.
Mr. Lipscomb also believes that the
budgeted selling price per unit should be equal to the highest selling price
that could be achieved in 2012. He would
like to budget 102 per unit for screwdrivers and 130 per unit for saws. Mr. Lipscomb states that his management team
experimented with pricing in the prior year, beginning with the first month of
the year.
You review the unit sales and unit selling
price information for 2012 and recommend a budget based on 60,000 units of
screwdrivers at 100 each and 40,000 units of saws at 125 each. Mr. Lipscomb challenges your conclusion. Likewise Mr. Owens, the company president, would
like to hear an explanation of the budget numbers and how or why you calculated
those numbers.
Production Requirements
Each unit produced requires the following
materials, labor, and overhead, all of which is variable.
Inventories
Inventories are listed below. The beginning inventories are the actual
amounts on hand at the beginning of the year.
The ending inventories shown are the amounts that the operations manager
has determined to be necessary to ensure smooth production processes.
Other information
Fixed
manufacturing overhead
Fixed
manufacturing overhead is 214,000, including 156,000 of non-cash expenditures.
Fixed
manufacturing overhead is allocated on total units produced.
Beginning cash
is 1,800,000.
Sales are on
credit. Sales are collected 50 percent
in the current period and the remainder in the next period. There are no bad debts.
Sales for the
last quarter were 8,400,000.
Purchases for
direct materials and labor costs are paid for in the quarter acquired.
Manufacturing
overhead expenses are paid in the quarter incurred.
Selling and
administrative expenses are all fixed and are paid in the quarter incurred.
Estimated
selling and administrative expenses for the next period are 340,000 per
quarter, including 90,000 of depreciation.
REQUIREMENTS:
1. Prepare a sales budget in good form.
2. Prepare a narrative report explaining how your
sales budget was determined. Use the
table above in your analysis.
(Hint: Many companies would
develop their budgets using average sales and average unit costs.)
Whatever budget
determination method you use should be explained. In your explanation, you should include a
discussion of why you believe sales and selling prices fluctuated last year.
3. Prepare a production budget in units.
4. Prepare a purchases budget.
Remember that you will need to purchase enough materials to have the
required ending inventories shown. You
will also need to purchase enough to manufacture and sell the products on your
sales forecast. Do not forget that you
have beginning inventories.
5. Prepare a narrative report explaining how you
prepared the purchases budget. Be as
detailed as necessary to be sure that the president and general manager will
understand the calculations and costs.
6. Prepare a budgeted income statement.
7. Prepare a
contribution margin income statement.
8. Prepare a narrative report explaining how the
expenses on the income statement were determined.
9. Prepare a cash
budget. Be sure that you show all cash
inflows and outflows.
10. Prepare a narrative report explaining your cash
budget process.
11. If necessary,
prepare a capital expenditure budget. Explain your entries. Use only the facts in this case to prepare
the budget.
Summary:
Your finished case will consist of six or seven budgets (a
sales budget, a production budget in units, a purchases budget, a budgeted
income statement, a contribution margin income statement, a cash budget, and,
if necessary, a capital expenditure budget.)
You will also have four or five narrative
reports (a sales budget report, a purchases budget report, an income statement
report, a cash budget report, and an explanation of your capital budget, if
necessary).
Narrative reports are reports that are in
the form or a white paper that clearly explains the numeric entries on your
budgets. The length of the narrative
reports will depend on the particular report.
In general, you should be able to prepare the sales budget report on one
or two pages, the purchases budget report on one or two pages, the income statement
report on one page, and the cash budget report on one page. In this case, the capital budget report would
be less than one page. You should not
worry if one of your reports is more or less than the recommendation given
here—just be sure you cover all of the important points and satisfactorily
explain the numeric entries in your budget.
Also, be sure you explain the process of “how” your numbers were
determined. In this regard, it is not
necessary or desirable to explain the exact calculations. Consider your audience and prepare a report
that would be suitable for executives making plans and decisions for the
upcoming year.
1Harvey’s budget is adapted from a published case. (Source and citation are available upon
request to faculty only).
MBAi
6691
Date Scored
Student:
Case Grading Rubric
Criteria
for Case
Meets
Expectations
Partially
Meets Expectations
Fails
to Meet Expectations
Comments/Score
Content
Analysis (worth 40% of the case grade)
Analysis
addresses all aspects of case in sufficient depth.
Analysis
addresses most aspects of case in sufficient depth.
Analysis
does not address most aspects of case and/or fails to do so in sufficient
depth.
Content
Solution (worth 40% of the case grade)
Described
solution demonstrates an understanding and correct use of problem solving
skills
Described
solution demonstrates a sufficient level of problem solving abilities but
fails to address correctly as aspects of the case.
Described
solution does not demonstrate an acceptable level of problem solving
abilities and the ability to use case information correctly.
Presentation
Style (worth 20% of the case grade)
No
significant errors in presentation style, consistent with case requirements
and consistent with business standards
Errors
in presentation style, compliance with case requirements, and normal business
standards
The
presentation was limited, demonstrated a minimal effort to meet case
requirements and present your solution in an acceptable business style.
Late
Submission - 10% per day regardless of the reason for the late submission.
Total Points
4 pages
Scholarly Activity Summary Template
The health care system adopted in a particular area therefore has a lot of impetus with regards to the implementation of t ...
Scholarly Activity Summary Template
The health care system adopted in a particular area therefore has a lot of impetus with regards to the implementation of the evidence based model of ...
3 pages
Socw6311 Discussion Week Nine
Post a description of the process evaluation that you chose and explain why you selected The process evaluation I chose in ...
Socw6311 Discussion Week Nine
Post a description of the process evaluation that you chose and explain why you selected The process evaluation I chose involved client satisfaction ...
8 pages
HIM1103 Rasmussen Module 1 Coding Foundations CMS Organization Quiz
CMS is an organization that oversees private insurance companies. CAHIIM is an organization that oversees what type of org ...
HIM1103 Rasmussen Module 1 Coding Foundations CMS Organization Quiz
CMS is an organization that oversees private insurance companies. CAHIIM is an organization that oversees what type of organization? Different ...
13 pages
Week 6 Cnl 545 Design Two Interventions Obj. 6.1 And 6.2
• Case study 1 involves mass shooting at an elementary school, while Case • Provide step-by-step description of each i ...
Week 6 Cnl 545 Design Two Interventions Obj. 6.1 And 6.2
• Case study 1 involves mass shooting at an elementary school, while Case • Provide step-by-step description of each intervention plan and ...
University of Phoenix Ethical Issues in Research Proposal
As you develop a research proposal, you must consider the ethical issues related to it.Determine the ethical consideration ...
University of Phoenix Ethical Issues in Research Proposal
As you develop a research proposal, you must consider the ethical issues related to it.Determine the ethical considerations related to the research question you developed in Week 1.Consider the seven main principles of ethical research introduced in this week's learning activity, Research Ethics Guidance:Social and clinical valueScientific validityFair subject selectionFavorable risk-benefit ratioIndependent reviewInformed consentRespect for potential and enrolled subjectsSummarize the ethical issues related to your topic in one of the following formats:18- to 20-slide presentation15- to 20-minute oral presentation875-word paperAnother format approved by your instructorCite at least one peer-reviewed and one evidence-based resource in APA format.Submit your assignment.ResourcesCenter for Writing ExcellenceReference and Citation GeneratorGrammar and Writing GuidesLearning Team ToolkitCopyright 2018 by University of Phoenix. All rights reserved.
Earn money selling
your Study Documents