Question

       As a contrast, prepare a thorough budget for the total revenue/cost as per the Management...

       As a contrast, prepare a thorough budget for the total revenue/cost as per the Management Accounting subject you are now studying and for which you are completing this assignment. This can include a revenue line where your revenue can be assumed to be 20 percent higher than your costing.

Costing can be in terms of 10-15 different costs inspired by any annual report you deem comparable to an academic institution.

*Please use Excel, charts or any other graphical device (e.g. PowerPoints) you deem necessary for presenting your figures clearly.                                                                       

Here’s an example of how you can present the income statement:

Budget $$

Revenue

xxx

Income stream A

xxx

Income Stream B

xxx

Operating Expenses

Cost A

xx

Cost B

xx

Cost C

xx

(Use as many categories as you deem necessary)

Operating income

x

Other income/Expenses

Cost d

x

cost e

x

x

Net Income

x

  1. Compare the above question briefly to an activity-based approach e.g. do you find the terms unit level, batch level, product level or facility level would have improved the example that you have constructed.   

  1. Perform question 3 for 1 more non-accounting unit for which you may or not be enrolled.

Now that you have experienced the budgeting process twice, do you feel that an activity based costing process would have presented any advantage over the traditional approach you took in questions 3 & 5?                                                           

Homework Answers

Answer #1

Solution :- Budgeted Income Statement are as follows :-

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
       As a contrast, prepare a thorough budget for the total revenue/cost as per the Management...
       As a contrast, prepare a thorough budget for the total revenue/cost as per the Management Accounting subject you are now studying and for which you are completing this assignment. This can include a revenue line where your revenue can be assumed to be 20 percent higher than your costing. Costing can be in terms of 10-15 different costs inspired by any annual report you deem comparable to an academic institution. *Please use Excel, charts or any other graphical device...
I need assistance with Cost of Goods Sold Budget and on down please. Thank you! Direct...
I need assistance with Cost of Goods Sold Budget and on down please. Thank you! Direct Labor Cost Budget Direct labor needs from the direct labor cost budget should be coordinated between the production and personnel departments so that there will be enough labor available for production. Before you make any changes to the budget, you review the information on the following Direct Labor Data Table and enter the units to be produced from the Production Budget. After scanning the...
Prepare, in good form, a Sales Budget, and Production Budget. Please show work. I am just...
Prepare, in good form, a Sales Budget, and Production Budget. Please show work. I am just trying to make sure I have the correct answers. Balance Sheet Bottas Manufacturing, Inc. Balance Sheet December 31, 2018 ASSETS Cash $           25,711.00 Marketable securities                20,000.00 Accounts receivable             565,844.43 Inventories:    Finished goods $           86,385.60    Work in process                          0.00    Direct materials                  7,193.94                93,579.54 Total Current Assets             705,134.97 Property, plant and equipment $         844,200.00    Less: Accumulated...
Question 1: Cost allocation Product A Product B Total sales volume (units) 180 100 280 Revenue...
Question 1: Cost allocation Product A Product B Total sales volume (units) 180 100 280 Revenue $1,000 $6,000 $7,000 Variable costs:   direct materials $200 $400 $600   direct labor $400 $1,000 $1,400 Contribution margin $400 $4,600 $5,000   Fixed costs $4,200 Profit $800 a) Allocate the fixed costs between products A and B. Use direct labor dollars as the cost driver. allocation rate=$   per DL$ allocated costs for A=$    allocated costs for B=$    b) Compute the profit margins for products A and B:...
1. Management accounting is said to meet. Select one: A. The internal accounting needs of the...
1. Management accounting is said to meet. Select one: A. The internal accounting needs of the organisation B. The external accounting needs of the organization C. The regulatory requirements of the organisation D. The needs of laws that govern company financial reporting 2. Which of the following defines total product cost? Select one: A. Direct costs plus indirect costs of production, selling and administration B. A prime cost plus production overhead C. Indirect cost plus production overhead D. Prime cost...
Diamond Company Statement of Comprehensive Income for the year ended December 31, 2019 Sales revenue Cost...
Diamond Company Statement of Comprehensive Income for the year ended December 31, 2019 Sales revenue Cost of goods sold Gross profit $1,294,000 737,000 $557,000 Operating Expenses Advertising expense $ 7,900 Depreciation expense Salaries expense 64,000 169,000 240,900 Profit $316,100 Diamond Company Statement of Financial Position December 31, 2019 Assets Current Assets Cash $ 37,000 Accounts receivable Inventory Total current assets 115,000 106,500 $258,500 Non-current Assets Property, Plant, & Equipment $565,000 Less: Accumulated depreciation 115,000 450,000 Total Assets $708,500 Liabilities Current...
Mastery Problem: CVP Analysis - Constructing a Cost-Volume-Profit Chart CVP Analysis and the Contribution Margin Income...
Mastery Problem: CVP Analysis - Constructing a Cost-Volume-Profit Chart CVP Analysis and the Contribution Margin Income Statement For planning and control purposes, managers have a powerful tool known as cost-volume-profit (CVP) analysis. CVP analysis shows how revenues, expenses, and profits behave as volume changes, which helps identify problems and create solutions. In CVP analysis, costs are classified according to behavior: variable or fixed, rather than by category: product (which includes both variable and fixed) or period (which includes both variable...
Mastery Problem: CVP Analysis - Constructing a Cost-Volume-Profit Chart CVP Analysis and the Contribution Margin Income...
Mastery Problem: CVP Analysis - Constructing a Cost-Volume-Profit Chart CVP Analysis and the Contribution Margin Income Statement For planning and control purposes, managers have a powerful tool known as cost-volume-profit (CVP) analysis. CVP analysis shows how revenues, expenses, and profits behave as volume changes, which helps identify problems and create solutions. In CVP analysis, costs are classified according to behavior: variable or fixed, rather than by category: product (which includes both variable and fixed) or period (which includes both variable...
Total utility can be objectively measured in numbers that indicate usefulness or benefit to the consumer....
Total utility can be objectively measured in numbers that indicate usefulness or benefit to the consumer. ____ 2. Consumers should purchase quantities of a good to the point where MU > P. ____ 3. Voluntary exchange requires that there must be mutual gain. ____ 4. Points along a budget line represent the maximum combinations of two commodities that a consumer can afford. ____ 5. The budget line represents a consumer's preferences for a commodity. ____ 6. A change in consumer...
Read the case study and addressing the following: In addition to regular gyms, nontraditional workout concepts...
Read the case study and addressing the following: In addition to regular gyms, nontraditional workout concepts and centers such as Kosama are increasing in popularity. Kosama is a franchise opportunity that offers members the opportunity to improve their health and fitness level. To learn more about the company visit kosama.com. Part 1, Section 1: Assume the following revenue and cost break-down. Revenue:   -Monthly membership fee = $30. Costs: -General fixed operating expenses = $4,100 per month. -Equipment Lease = $395...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT