Help with excel spread sheetDevelop a minimum 700-word examination of the financial statements and i

Anonymous
timer Asked: Apr 25th, 2017

Question description

Develop a minimum 700-word examination of the financial statements and include the following:

  • Based on the static budget report:
    • What was the primary cause(s) of the loss in net income?
    • Did management do a good, average, or poor job of controlling expenses?
    • Were management's decisions to stay competitive sound?
  • Prepare a flexible budget report for the year.
  • Based on the flexible budget report:
    • What was the primary cause(s) of the loss in net income?
    • Did management do a good, average, or poor job of controlling expenses?
    • Were management's decisions to stay competitive sound?
  • What course of action do you recommend for the management of Green Pastures?

Show your work in Microsoft® Word or Excel®.

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

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