I need help with an assignment for an accounting class. Please see attached chapter 6 of textbook
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I need help with an assignment for an accounting class. Please see attached chapter 6 of textbook and see attached assignment instructions. Please help.
Where to begin on the Master and Flexible Budget Case In Milestone 1, the controller asks you to prepare a model of the annual master budget for the current year. To do so, you decide to use financial relationships from the prior year and add key assumptions (found below in the section entitled \"steps to completion\") underlying the following year. Share the model with the controller for feedback. Go to the sec.gov and retrieve the latest form 10K for Ford Motor Company. Here's the CIK number; FORD MOTOR CO (Filer) CIK: 0000037996 Ford has two sectors; Automotive and Financial. You will be working with the 2014 Consolidated and Sector Income Statement. Select the Auto sector. The company has filed the 2015 form 10K. We will use that information later to compare your expected results to actual results. You will also find the note relating to segment information useful. Again, be sure to focus on the automotive sector. Read the assumptions provided to you in the case. When preparing your EXCEL file, be sure the assumptions are clearly presented in one of the sheets. The goal Is for you to create a document that is in the form of a budget for the automotive division of Ford. Chapter 6 of our text (I have attached for you) provides examples of an operating budget/ It would be useful to set up your schedules like the examples in the text. Sheet 1 -The first sheet should have the assumptions listed in the case. You should add any assumptions you used in developing the components of the master budget for 2015. Sheet 2 - Perhaps you could include a sheet that contains the 2014 income statement for the automotive sector. Sheets 3- 8 Here's where you will create, for the year 2014, the following components of the master budget; 1. Sales budget 2 Production budget 3. Direct materials budget 4. Direct labor budget 5. Manufacturing overhead budget 6 Selling and administrative expense budget PLEASE LABEL EACH SHEET! You should include any resource you used to assist you in determining the inputs into these budgets. For example, if you research the increase in materials cost for a car, identify the source
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