Assignment: Budget Planning and Control

Before approaching this assignment, be sure that you have watched the following video.Budgetary Planning featuring Babycakes *FULL VIDEO*. (2016). YouTube. 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 four to five (4-5) page paper in which you address the following.Briefly discuss the ways a realistic budget will benefit the owner of Babycakes versus having no budget at all. Be sure to use Babycakes as the company and any specific product details in your explanation.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.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.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.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.Integrate relevant information from at least four (4) 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.Be typed, double spaced, using Times New Roman font (size 12), with
one-inch margins on all sides; references must follow APA or
school-specific format. Check with your professor for any additional
instructions.Include a cover page containing the title of the assignment, the
student’s name, the professor’s name, the course title, and the date.
The cover page and the reference page are not included in the required
page length.An abstract is not required.The specific course learning outcomes associated with this assignment are:Evaluate management control systems and examine their relationship with accounting and planning, including feedback and non-?nancial performance measurements.Evaluate decision-making tools for capital investments, budgeting, and budgeting controls.Analyze financial accounting tools and techniques that convert financial accounting data into information for decision making.Use technology and information resources to research issues in financial accounting for managers.Write clearly and concisely about financial accounting using proper writing mechanics.Grading for this assignment will be based on the quality of your
responses, logic and organization of the paper, and language and writing
skills. Please review the Rubric for the Assignment: Budget Planning and Control.
assignment_budget_planning_and_control_rubric.pdf

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Points: 200
Criteria
Assignment: Budget Planning and Control
Exemplary
Proficient
Fair
90-100% A
80-89% B
70-79% C
Thoroughly described
the reasons for using
a budget and the
possible outcomes of
a good budget versus
no budget.
Satisfactorily
described the
reasons for using a
budget and the
possible outcomes of
a good budget versus
no budget.
Partially described
the reasons for using
a budget and the
possible outcomes of
a good budget versus
having no budget.
Thoroughly prepared
a sales budget for the
4th quarter and
described the details
it was based on.
Include the actual
budget as an
appendix with all data
and calculations
used.
Satisfactorily
prepared a sales
budget for the 4th
quarter and described
the details it was
Partially prepared a
sales budget for the
4th quarter and
described the details
it was based on.
Include the partial
budget, not in
appendix with all data
and calculations
used.
Thoroughly submitted
or explained the
benefits of using a
flexible budget over a
static budget.
Satisfactorily
submitted or
explained the benefits
of using a flexible
budget over a static
budget.
Partially submitted or
explained the benefits
of using a flexible
budget over a static
budget.
Did not submit or
explain the benefits of
using a flexible
budget over a static
budget.
Thoroughly explained
the modifications and
corrective actions
needed to correct the
challenges and the
expected results.
Satisfactorily
explained the
modifications and
corrective actions
needed to correct the
challenges and the
expected results.
Partially explained the
modifications and
corrective actions
needed to correct the
challenges and the
expected results.
5. Three (3) relevant and
appropriate academic quality
references used. Weight: 5%
Exceeds number of
required references;
all references highquality choices.
Meets number of
required references;
all references highquality choices.
6. Writing Mechanics,
Grammar, and Formatting.
Mostly free of errors
in grammar, spelling,
punctuation, or
formatting.
Partially free of errors
in grammar, spelling,
punctuation, or
formatting.
Does not meet the
required number of
references; some or
all references poor
quality choices.
Numerous errors in
grammar, spelling,
and punctuation.
Did not submit or
incompletely
explained the
modifications and
corrective actions
needed to correct the
challenges and the
expected results.
No references
provided.
1. Babycakes is used as the
company for all parts of the
budget planning and control
report. Briefly discuss each of
the main reasons the owner
of Babycakes needs a budget
using the specific company
and product details. Include
the possible outcomes with a
good budget versus having
no budget.
Weight: 20%
2. Prepare a sales budget for
the Babycakes LA store for
the 4th quarter of 2016.
Present each month;
October, November, and
December, and a total for the
quarter. Use one-half of the
Valentine’s Day (one day) of
sales as the basis for a usual
day. Include changes needed
due to Halloween,
Thanksgiving, and Christmas.
Discuss the budget details in
the report. Include the actual
budget as an appendix with
all data and calculations
used.
Weight: 20%
3. Explain the benefits of
using a flexible budget based
on the budget you prepared
for the 4th quarter of 2016.
Weight: 15%
4. Explain the modifications
and corrective actions
needed to correct challenges
and the expected results.
Weight: 20%
Weight: 5%
based on. Include the
partial budget as an
appendix with all data
and calculations
used.
Less than Minimum
Expectations
60-69% D
Did not submit or
incompletely
described the
reasons for using a
budget and the
possible outcomes of
a good budget versus
no budget.
Did not submit or
incompletely
prepared a sales
budget for the 4th
quarter and described
the details it was
based on. Does not
include actual budget
as an appendix with
all data and
calculations used.
Serious and
persistent errors in
grammar, spelling,
punctuation, or
formatting.
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7. Appropriate use of APA intext citations and reference
section.
Weight: 5%
8. Information Literacy and
Integration of Sources.
Weight: 5%
9. Clarity and Coherence of
Writing.
Weight: 5%
Most in-text citations
and references are
provided, and they
are generally
formatted correctly in
APA style.
Sources are mostly
integrated using
effective techniques
of quoting,
paraphrasing, and
summarizing.
In-text citations and
references are
provided, but they are
only partially
formatted correctly in
APA style.
Sources are partially
integrated using
effective techniques
of quoting,
paraphrasing, and
summarizing.
In-text citations and
references are given,
but not in APA format.
Lack of in-text
citations and/or lack
of reference section.
Sources are rarely
integrated using
effective techniques
of quoting,
paraphrasing, and
summarizing.
Information is mostly
clear and generally
supported with
reasons and evidence
that logically support
ideas.
Information is partially
clear with minimal
reasons and evidence
that logically support
ideas.
Information is
somewhat confusing
with not enough
reasons and evidence
that logically support
ideas.
Serious errors in the
integration of
sources, such as
intentional or
accidental plagiarism,
or failure to use intext citations.
Information is
confusing to the
reader and fails to
include reasons and
evidence that
logically support
ideas.
4/5/2018, 1:23 PM

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