Due Date Monday, September 5, 20166 00 PM Points Possible 200 Assignment Budget Planning and Control Due Week 9 and worth 200 points Before approaching this assignment, be sure that you have watched the following video Budgetary Planning featuringBabycakes FULL VIDEO (2016) YouTube Babycakes, a specialty bakery, is the company that will be considered for all parts of your budget planning and control report For this assignment, you will develop a three to four (3 4) page paper in which you address the following Briefly discuss the ways a realistic budget will benefit the owner ofBabycakesversus having no budget at all Be sure to useBabycakesas the company and any specific product details in your explanation Prepare a sales budget for the LABabycakesstore for the 4th quarter of 2016 Present the number of units, sales price, and total sales for each month include October, November, and December, and a total for the quarter Use one half of the Valentines Day sales as the basis for a usual day in the new quarter Use 30 days for each month Calculate the total sales for each month for October, November, and December Create three (3) new products, one (1) for each of the three (3) holiday seasons in the 4th quarter Estimate the sales units, sales price, and total sales for each month Describe the assumptions used to make these estimates Include an overview of the budget in the report, presenting the actual budget as an appendix with all data and calculations Add these amounts to your sales budget The owner ofBabycakesis interested in preparing a flexible budget rather than the static budget she currently uses She does not understand why, when sales increase, her static budget often shows an unfavorable variance Explain how a flexible budget will overcome this problem Use the details of your newly prepared budget for the 4th quarter of 2016 to address her concern Imagine thatBabycakesis facing a financial challenge that is causing the actual amount of money that it spends to become significantly more than its budgeted amount Include a discussion of your own unique cause of the overspending Explain the corrective actions needed to address these challenges Integrate relevant information from at least three (3) quality academic resources in this assignment Note Please do not use your textbook as an academic resource Also,Wikipediaand other Websites that are unreliable do not qualify as academic resources Your assignment must follow these formatting requirements Be typed, double spaced, using Times New Roman font (size 12), with one inch margins on all sides references must follow APA or school specific format Check with your professor for any additional instructions Include a cover page containing the title of the assignment, the students name, the professors name, the course title, and the date The cover page and the reference page are not included in the required page length An abstract is not required Evaluate management control systems and examine their relationship with accounting and planning, including feedback and non nancialperformance measurements Evaluate decision making tools for capital investments, budgeting, and budgeting controls Analyze financial accounting tools and techniques that convert financial accounting data into information for decision making Use technology and information resources to research issues in financial accounting for managers Write clearly and concisely about financial accounting using proper writing mechanics The specific course learning outcomes associated with this assignment are Grading for this assignment will be based on the quality of your responses, logic and organization of the paper, and language and writing skills Please review theRubric for the Assignment Budget Planning and Control

The Answer is in the image, click to view ...

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 27, 2024

Due Date Monday, September 5, 20166:00 PM Points Possible 200 Assignment: Budget Planning and Control Due Week 9 and worth 200 points Before approaching this

Due Date Monday, September 5, 20166:00 PM Points Possible 200
Assignment: Budget Planning and ControlDue Week 9 and worth 200 pointsBefore approaching this assignment, be sure that you have watched the following video.
- Budgetary Planning featuringBabycakes*FULL VIDEO*. (2016).YouTube.
Babycakes, a specialty bakery, is the company that will be considered for all parts of your budget planning and control report. For this assignment, you will develop a three to four (3 4) page paper in which you address the following.
1. Briefly discuss the ways a realistic budget will benefit the owner ofBabycakesversus having no budget at all.Be sure to useBabycakesas the company and any specific product details in your explanation.
2. Prepare a sales budget for the LABabycakesstore for the 4th quarter of 2016.Present the number of units, sales price, and total sales for each month; include October, November, and December, and a total for the quarter.Use one-half of the Valentines Day sales as the basis for a usual day in the new quarter. Use 30 days for each month. Calculate the total sales for each month for October, November, and December.
3. Create three (3) new products, one (1) for each of the three (3) holiday seasons in the 4th quarter. Estimate the sales units, sales price, and total sales for each month. Describe the assumptions used to make these estimates. Include an overview of the budget in the report, presenting the actual budget as an appendix with all data and calculations. Add these amounts to your sales budget.
4. The owner ofBabycakesis interested in preparing a flexible budget rather than the static budget she currently uses. She does not understand why, when sales increase, her static budget often shows an unfavorable variance. Explain how a flexible budget will overcome this problem. Use the details of your newly prepared budget for the 4th quarter of 2016 to address her concern.
5. Imagine thatBabycakesis facing a financial challenge that is causing the actual amount of money that it spends to become significantly more than its budgeted amount. Include a discussion of your own unique cause of the overspending. Explain the corrective actions needed to address these challenges.
6. Integrate relevant information from at least three (3) quality academic resources in this assignment. Note:Please do not use your textbook as an academic resource. Also,Wikipediaand other Websites that are unreliable do not qualify as academic resources.
Your assignment must follow these formatting requirements.
- Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; references must follow APA or school-specific format. Check with your professor for any additional instructions.
- Include a cover page containing the title of the assignment, the students name, the professors name, the course title, and the date. The cover page and the reference page are not included in the required page length.
- An abstract is not required.
- Evaluate management control systems and examine their relationship with accounting and planning, including feedback and non-nancialperformance measurements.
- Evaluate decision-making tools for capital investments, budgeting, and budgeting controls.
- Analyze financial accounting tools and techniques that convert financial accounting data into information for decision making.
- Use technology and information resources to research issues in financial accounting for managers.
- Write clearly and concisely about financial accounting using proper writing mechanics.
The specific course learning outcomes associated with this assignment are:Grading for this assignment will be based on the quality of your responses, logic and organization of the paper, and language and writing skills. Please review theRubric for the Assignment: Budget Planning and Control.