PWRPT C7 Budgeting

PWRPT C7 Budgeting - Chapter Seven Profit Planning...

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Chapter Seven Profit Planning
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Advantages of Budgeting Advantages Define goal and objectives Uncover potential bottlenecks Coordinate activities Communicating plans Think about and plan for the future Means of allocating resources
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Operating Budgets…conceptually, it’s the reverse of product costing Raw Components Manufactured Product Sold Product Determining Costs: Planning Action: Sold Product Manufactured Product Raw Components
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The Operating Budget Sales Budget
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The Operating Budget Sales Budget Production Budget
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The Operating Budget Sales Budget Production Budget Overhead Budget Direct Labor Budget Purchases Budget
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The Operating Budget Sales Budget Production Budget Overhead Budget Direct Labor Budget Purchases Budget Admin Expense Budget Selling Expense Budget
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Budgeting Overview Operational Process 1. Estimate Sales Budget 2. Estimate Production Budget 3. Estimate Purchasing Needs & Staffing Needs Financial Process Estimate Cash Inflows and Outflows based on the operational process
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Operating Budgets are VERY Mechanical.
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This document was uploaded on 10/27/2011 for the course BUSINESS ALL at Texas Tech.

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PWRPT C7 Budgeting - Chapter Seven Profit Planning...

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