09 May EXPLAIN THE CORRECTIVE ACTIONS NEEDED TO ADDRESS THESE CHALLENGES.
Assignment: Budget Planning and ControlDue Week 9 and worth 200 pointsBefore approaching this assignment be sure that you have watched the following video. Budgetary Planning featuring Babycakes *FULL VIDEO*. (2016). Babycakes a specialty bakery is the company that will be considered for all parts of your budgetplanning and control report. For this assignment you will develop a three to four (3 – 4) page paper inwhich you address the following.1. Briefly discuss the ways a realistic budget will benefit the owner of Babycakes versus having nobudget at all. Be sure to use Babycakes as the company and any specific product details in yourexplanation.2. Prepare a sales budget for the LA Babycakes store for the 4th quarter of 2016. Present thenumber of units sales price and total sales for each month; include October November andDecember and a total for the quarter. Use one-half of the Valentine’s Day sales as the basis fora usual day in the new quarter. Use 30 days for each month. Calculate the total sales for eachmonth for October November and December.3. Create three (3) new products one (1) for each of the three (3) holiday seasons in the 4thquarter. Estimate the sales units sales price and total sales for each month. Describe theassumptions 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 amountsto your sales budget.4. The owner of Babycakes is interested in preparing a flexible budget rather than the static budgetshe currently uses. She does not understand why when sales increase her static budget oftenshows an unfavorable variance. Explain how a flexible budget will overcome this problem. Usethe 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 moneythat it spends to become significantly more than its budgeted amount. Include a discussion ofyour 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 thisassignment. 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 allsides; references must follow APA or school-specific format. Check with your professor for anyadditional instructions. Include a cover page containing the title of the assignment the student’s name the professor’sname the course title and the date. The cover page and the reference page are not included inthe required page length. An abstract is not required.
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