ACC 556 Babycakes, a specialty –solution
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Before approaching
this assignment, be sure that you have watched the following video.
·
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 of Babycakes versus
having no budget at all. Be sure to
useBabycakes as the company and any specific product details in your
explanation.
2. Prepare a sales
budget for the LA Babycakes store 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 Valentine’s
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 of Babycakes is 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 that Babycakes is 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, Wikipedia and other Websites that are unreliable do not qualify
as academic resources.
Your assignment
must follow these formatting requirements.
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