Assignment 2 - Manage budgets

# Assignment 2 - Manage budgets - BSBFIM501 Assessment 2 Task...

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BSBFIM501 - Assessment 2 Task 1 - Sales Budget Part A (1) 1st Qtr 2013 2nd Q Units \$ Units Roadster 400 \$ 2,000,000.00 600 Trailer 900 \$ 3,150,000.00 1,350 Total 1,300 \$ 5,150,000.00 1,950 Hint: Calculate the Total Forecast first i.e. Total Australian Market x Comp P 1st Qtr 2014 2nd Q Units \$ Units Roadster 330 \$ 1,716,000.00 440 Trailer 900 \$ 3,330,000.00 1,200 Total 1,230 \$ 5,046,000.00 1,640 Hint: Calculate the Total Budget first i.e. Total Australian Market x Compa Part A (2) The Black Comparative Su Forecast 2013 Budge Units \$ Units Roadster 2,000 \$ 10,000,000.00 2,200 Trailer 4,500 \$ 15,750,000.00 6,000 Total 6,500 \$ 25,750,000.00 8,200 Note: Ensure Excel formats are used to represent units and currency This is a managemet report so where appropriate use formulas to m

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The Black Helmet Motor Cycle Company Forecast Sales for the year ended 31 December 2013 Qtr 2013 3rd Qtr 2013 4th Qtr 2013 Tot \$ Units \$ Units \$ Units \$ 3,000,000.00 600 \$ 3,000,000.00 400 \$ 2,000,000.00 2,000 \$ 4,725,000.00 1,350 \$ 4,725,000.00 900 \$ 3,150,000.00 4,500 \$ 7,725,000.00 1,950 \$ 7,725,000.00 1,300 \$ 5,150,000.00 6,500 pany's market share then x price to arrive at total Revenue before allocating over the quarters. The Black Helmet Motor Cycle Company Proposed Budget for the year ended 31 December 2014 Qtr 2014 3rd Qtr 2014 4th Qtr 2014 To \$ Units \$ Units \$ Units \$ 2,288,000.00 770 \$ 4,004,000.00 660 \$ 3,432,000.00 2,200 \$ 4,440,000.00 2,100 \$ 7,770,000.00 1,800 \$ 6,660,000.00 6,000 \$ 6,728,000.00 2,870 \$ 11,774,000.00 2,460 \$ 10,092,000.00 8,200 any's market share then x price to arrive at total Revenue before allocating over the quarters. k Helmet Motor Cycle Company ummary Forecast 2013 vs Budget 2014 et 2014 Variance % Variance \$ Units \$ Units \$ \$ 11,440,000.00 200 \$ 1,440,000.00 9% 12.6% \$ 22,200,000.00 1,500 \$ 6,450,000.00 25% 29.1% \$ 33,640,000.00 1,700 \$ 7,890,000.00 21% 23.5% y Example: 3,000, \$50,000 or % to 1 decimal point. minimise risk of error and to assist with the budget setting process

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tal Forecast 2013 Roadster type sales 20000 \$ 2013 Trailer type sales 30000 \$ 10,000,000.00 2013 Roadster Market share 2000 \$ 15,750,000.00 2013 Trailer Market share 4500 \$ 25,750,000.00 2013 Roadster wholesale pric 5000 2013 Trailer wholesale price 3500 Jan-Mar Apr-Jun Jul-Sep 2013 20% 30% 30% otal Budget 2014 15% 20% 35% \$ \$ 11,440,000.00 \$ 22,200,000.00 \$ 33,640,000.00

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2014 Roadster type sales 22000 2014 Trailer type sales 30000 2014 Roadster Market share 2200 2014 Trailer Market share 6000 2014 Roadster wholesale price 5200 2014 Trailer wholesale price 3700 Oct-Dec 20% 30%

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Task 2 - Part A Purchases and Closing Inventory Budget for the year ending 31 Inventory Requirements Roadster 2200 330 2530 Purchasing Budget Roadster Motor Cycle Units on hand at the start of the year 500 2030 2530 Cost of Sales and Gross Profit Budget Roadster \$3,250 \$7,150,000 \$ 15,050,000.00 132% Total Budget Unit Motor Cycle Sales ( Refer Task 1 Part A) Add desired closing inventory at the end of budget period (Refer information supplied in question i.e.Total Sales for the budget year divided by 12 x factor) Equals Total Units Required for budget year Add Budgeted Motor Cycle Units Purchases Equals Total Units Required for budget year Budgeted Cost Per unit Total Cost of Sales Budget & Forecast (Budget Sales Units in line 5 x Budget Cost per unit ) Total Gross Profit Budget ( Total Sales Revenue from Task 1 less Cost of Goods Sold - line 17 ) Budget Gross Profit % of Revenue ( Gross Profit line 18 divided by Sales Revenue from task 1 )

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December 20x4 Trailer Total 6,000 8,200 750 683 6750 8883 Trailer Total 2000 2500 4750 6383 6750 8883 Trailer Total Budget Fcast 20x3 \$2,000 \$2,200 \$12,000,000 \$19,150,000 \$14,300,000 \$ 10,200,000.00 \$ 25,250,000.00 \$11,450,000 46% 75% 44% Total forecast units fr

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Task 2 - Part B - Expense Budget The Black Helmet Motor Cycle Company Expense Budget by Department for the year ended 31 De Sales Warehousing
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• Three '16
• unknown
• Business, Revenue, Sales, Generally Accepted Accounting Principles, Motor Cycle Company, Black Helmet Motor, Helmet Motor Cycle

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