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Financial Statements

In a 1-2 page paper, please complete the following:

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  • Review the financial statements from the manufacturing company you chose in week one. (Apple Inc.
  • Discuss the importance of each type of budget (master, sales, production, direct materials, manufacturing overhead, sales and administrative).
  • Give 1-2 examples describing how each budget can assist the company in improving profitability for future periods.
  • Be sure that the paper has no spelling or grammatical errors.
  • APA format

Additional help

Master Budget

The master budget is comprised of several interrelated budgets that indicate a plan of actions and is presented for a specific period of time (monthly, yearly, etc.).

http://smallbusiness.chron.com/prepare-master-budget-business-10293.html#gsc.tab=0

Sales Budget

The sales budget is the first budget that is created. The sales budget is created by an earlier sales forecast that gives an estimate of expected revenue for a period.

http://accounting-financial-tax.com/2008/08/sales-budget/

Production Budget

The production budget gives an indication as to how many units are to be produced to meet sales goals.

http://accounting-financial-tax.com/2008/08/production-direct-material-direct-labor-factory-overhead-budget/

Direct Materials Budget

The direct materials budget gives information relating to the quantity and cost of the items that will be used for production.

http://accounting-financial-tax.com/2008/08/production-direct-material-direct-labor-factory-overhead-budget/

Manufacturing Overhead Budget

The manufacturing overhead budget gives information relating to the expected manufacturing costs for a period. The budget shows the different fixed and variable cost amounts.

http://accounting-financial-tax.com/2008/08/production-direct-material-direct-labor-factory-overhead-budget/

Selling and Administrative Budget

The selling and administrative budget shows a projection of anticipated operating expenses relating to sales and office personnel. This budget also shows the different fixed and variable cost amounts.

http://accounting4management.com/selling_and_admn_expenses_budget.htm

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