You will be creating a budget for one of the department’s on Netflix’s income statement under Technology and Development for 2021

The Actual for Technology and Development expenses were 1,829,600. This amount will be broken out into four departments equally:

• Cybersecurity – 25%
• Research – 25%
• Development – 25%
• I.T. – 25%

The company has decided to use incremental budgeting and is granting each department a 5% increase for 2021. Therefore, the new budget for 2021 is 1,921,080.

Breaking this out evenly across the four departments, the 2021 budget for each is:

Department	% Increase	2021 Budget
Cybersecurity	25%	$480,270
Research	25%	$480,270
Development	25%	$480,270
I.T.	25%	$480,270

You are to select one department and create a budget for 2021 based on the following assumptions:

Wages

• There are 5 members in the department:
• One Director that gets paid $130,000/year.
• One Supervisor that gets paid $95,000/year.
• Three Junior Staff members that get paid $65,000/year each.

Travel

• There are three conferences in 2021 and you will be sending 2 employees to each conference.
• The first two conferences cost $3,000 per person and the third conference is $5,000 per person.
• The conferences will be held in February, May, and September

Meals

• Meals will be paid for travel to the conferences mentioned above. Each person will receive $250 per day and each conference is five days.

Training

• The entire department will be attending a training seminar in April and the cost is $5,000 per person.

Meals

• During the training session for the entire department, each person will receive $250 per day for meals and the training session is for three days.

Supplies

• Each person in the department spends $24 per month each for supplies

Miscellaneous

• The company always allocates $50 per month for miscellaneous expenses from January – October and then $40 per month for November – December.

Using the attached Excel spreadsheet, you are to take the assumptions and plot them out on the budget template that is provided to you. The assumptions are also listed on the spreadsheet, so you do not have to go back and forth from the assignment instructions to the Excel file.

Once you have filled in the amounts on the attached spreadsheet, you will upload the spreadsheet to Canvas. Please make sure to include your name on the file that is submitted to Canvas. There is no written part to this assignment – just the Excel spreadsheet. Remember, your final number should match the 2021 budget of $480,270.

Name of Department: Budget 2021 Budget Allocated to Department: Assumptions Wages Travel Meals Meals Training Supplies Misc. Salaries Director Supervisor Junior Total Wages Travel Meals Training Supplies Miscellaneous $ $ Jan 130,000 IS 95,000 $ 65.000 ea $ 290,000 $ $ 480,270 $ $ S $ Feb 130,000 95,000 Mar 195,000 420,000 $ - $ Monthly Expense Apr 35,000 Netflix Yearly Budget $ May Budget Preparer: $ Jun $ Jul Each department has 1 Director, 1 Supervisor, and 3 junior people There are 3 conferences in 2021 and you want to send 2 people. The cost for each conference the first 2 conferences is $3,000 per person and the final conference is $5,000 per person. The conferences will be held in February, May, and September Meals will be paid for the travel to the 3 conferences and each person will receive $250 per day and the conference is 5 days. In addition to the training, meals will have to be paid for the training seminar in April. Each person will receive $250 per day and the conference is 3 days. The entire department will be attending a training seminar in April and the cost per employee is $5,000. Each person in the department spends $24/month in supplies The company always allocates $50 per month for miscellaneous expenses from Jan - Oct and then $40 per month in Nov - Dec |$ Aug - $ Sep $ Oct Nov |$ Dec $ S $ $ Is |$ Total - -