Financial Statements
In a 1-2 page paper, please complete the following:
- Review the financial statements from the manufacturing company you chose in week one. (Apple Inc.
- Discuss the importance of each type of budget (master, sales, production, direct materials, manufacturing overhead, sales and administrative).
- Give 1-2 examples describing how each budget can assist the company in improving profitability for future periods.
- Be sure that the paper has no spelling or grammatical errors.
- APA format
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The master budget is comprised of several interrelated budgets that indicate a plan of actions and is presented for a specific period of time (monthly, yearly, etc.).
http://smallbusiness.chron.com/prepare-master-budget-business-10293.html#gsc.tab=0
Sales Budget
The sales budget is the first budget that is created. The sales budget is created by an earlier sales forecast that gives an estimate of expected revenue for a period.
http://accounting-financial-tax.com/2008/08/sales-budget/
Production Budget
The production budget gives an indication as to how many units are to be produced to meet sales goals.
Direct Materials Budget
The direct materials budget gives information relating to the quantity and cost of the items that will be used for production.
Manufacturing Overhead Budget
The manufacturing overhead budget gives information relating to the expected manufacturing costs for a period. The budget shows the different fixed and variable cost amounts.
Selling and Administrative Budget
The selling and administrative budget shows a projection of anticipated operating expenses relating to sales and office personnel. This budget also shows the different fixed and variable cost amounts.
http://accounting4management.com/selling_and_admn_expenses_budget.htm
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