Table of Contents
Week 6 Assignment – Case on Budgeting
Overview
Flexible Budget | Activity Variances | Planning Budget | |
---|---|---|---|
Customers served (q) | 36,000 | 33,000 | |
Revenue ($4.80q) | $172,800 | $14,400 F | $158,400 |
Expenses: | |||
Wages and salaries ($36,900 + 1.60q) | 94,500 | 4,800 U | 89,700 |
Supplies ($0.90q) | 32,400 | 2,700 U | 29,700 |
Insurance ($13,300) | 13,300 | 0 | 13,300 |
Miscellaneous Expense ($6,300 + $0.40q) | 20,700 | 1,200 U | 19,500 |
Total expense | 160,900 | 8,700 U | 152,200 |
Net operating income | $11,900 | $5,700 F | $6,200 |
Instructions
- Explain the budgeted income statement.
- Outline how you would create annual budgeted financial statements.
- Analyze the difference between a static budget and a flexible budget, including the importance of each.
- Evaluate the importance of reading and correctly interpreting budgeted financial statements.
- Use three sources to support your writing. Choose sources that are credible, relevant, and appropriate. Cite each source listed on your source page at least one time within your assignment. For help with research, writing, and citation, access the library, or review library guides.
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