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1. Quantitative plan
Purpose of budget
4. Companys operating plan: What resources will be required to execute the plan?
Receipts:
Cash Sales
Accounts receivables
Dividend income
Interest income
Sale of asset
Total Receipts
Payments:
Cash Purchases
Accounts payables
Interest payable
Dividend Payable
Utilities
Purchase of asset
Total Payments
Closing balance
Revenue /sales Budget page 453
Product X
Sales Budget
Total
Product X
Sales Budget
North A
Total
Total
Production Budget page 455
Product X
Production Budget
Sale units
Desired production
Desired production
Desired purchase
Product Production (Units) Hours per unit Total Hours Labor Rate per Hour Labor Cost
Product Production (Units) Hours per unit Total Hours FOH Rate per Hour FOH Cost
Manufacturing Cost Budget Page 456
Product X
Payroll Budget
Rent Budget
Schedules
Marketing Expenses Budget
1. Planning: Set and plan future course of action. It involves developing objectives and preparing
various budgets to achieve those objectives. Without short term, medium term and long term
planning, its hard to achieve objectives.
2. Control: Control involves the steps taken by management to increase the likelihood that the
objectives set at the planning stage are attained and that all the parts of the organization are
working together toward that goal. To be completely effective, a good budgeting system must
provide for both planning and control.
6. Communication: Reporting channel within organization from juniors to seniors and across
department/ organization.