Budgeting provides a systematic way of reviewing estimated with actual results, coordinating future activities and setting realistic targets. It is an effective management tool and benefits include:

Provides a time frame required to control finances. Highlights cashflow shortages/financing requirements etc.

As such, form yourselves into groups.

For this assignment each group need to find /create business with required details to prepare the following budgets for 1 year by quarterly:

a) Sales budget

b) Production budget

c) Direct materials budget

d) Direct labour budget

e) Manufacturing overheads budget

f) Cost of Sales budget