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The XYZ company is opening its first store in the Pleasantville area. It has budgeted 50000 to advertise its grand opening and attract customers to the store. The financial manager of the company want?
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How is target costing used to price products?
traditionally cost plus procedure were used means at the time of pricing the product we accumulated the cost(direct material+direct labor+direct expenses+variable production OH+fixed production OH)that has to be incurred in order to produce the product and determined the cost per unit and then add the profit margin to reached at the selling price this method of costing is precised for its simplicity but in 1960 the concept of target costing were introduced which tells us the opposite approach as compared to the traditional costing in target costing we starts from the market survey and determine at what selling price costumer is agree to buy the product which we want to produce after determining the selling price of the product we subtract the desired profit which we want to achieve from it(competitive selling price-desired profit=target cost) after subtracting the desired profit from the selling price we left with the cost termed as the TARGET COST. after setting of the target cost we look all the budgeted cost if budgeted cost is greater than the target cost we apply all the cost saving techniques to control the budgeted cost and keep the budgeted cost into the limits of target cost... (ANSWERED BY ARSALAN IDREES)
How do you prepare company profile for a small unit?
COMPANY PROFILE FOR A SMALL UNIT SCALE COMPANY SHOULD BE PRACTICAL AND MUST POSSESS THE PRINCIPLE OF ONE IS TO ONE , MEANING BUDGETED CAPITAL CORRESPONDS AND LIMITED TO A RESOURCES IT COULD ONLY AFFORD AS IT WOULD BE RIDICULOUS IF IT ISGOING TO PURCHASE AN ASSET WHERE IN IT IS MORE EXPENSIVE THAN THE NOMINAL CAPITAL AS A GENERATING EXPENSES IT DECLARED.
How do you make a feasibility study for a flower shop?
There are many factors to a feasibility study. The first line of approach would be the market survey. In short, can you make money in this business at your desired location? For the flower shop, one must remember that it is a niche business. A niche business serves a particular clientele, catering to their needs. By it's nature, the flower shop is a specialty shop. The mean average income of the location's surrounding inhabitants would be an excellent means of finding out if the location is desirable for this business. It would be of little use to have a flower shop in an industrial park. But it might be profitable to be near a high school, a church, or a hospital. All these locations have opportunities for the shop to service the special event trade and the get well/sympathy buyers. Having determined that the location is optimal, the accounting ledger must be consulted next. Expenses such as rent, utilities, specialty modifications to the location, and the stock within the business must be budgeted. Lines of supply must be addressed, advertizing, hours of the business, payroll, and price lists must be made. Another item to consider is "word of mouth". With a flower shop, the florist is the key to the operation. If this person has a reputation in the community, you have built in foot traffic. This traffic takes care of the day to day overhead expenses while at the same time, generating community support for the business. A feasibility study would not be complete if you didn't allow for employees. Should the venture require more that the one owner/operator, labor costs have to be factored into the operating expense. So, looking at this information, is the business a good investment? Location, ease of access, foot traffic, and reputation are things that must be considered in a niche market.
The projection of financial position at the end of the budget period is found on the?
budgeted balance sheet
What is the differences between budgeted amounts and actual financial performance?
suck your own dick then you will have the answer
How would you describe a financial budget?
Financial budgets identify sources and outflows of funds for the budgeted operations and the expected operating results for the period.
What is the significance of sales budget in an enterprise?
Sales budget is the starting point of budgeting process because it provides the all important figure of budgeted sales data for production budgets and for all other budgeted financial statements.
What does a budgeted income statement consist of?
budgeted depreciation
What is the difference between budgeted profit and actual profit?
Budgeted Profit is the one which a company's financial analysts expect to have in a particular period of time (e.g one year) in the future and Actual Profit is the profit which is actually earned by the company. David Morson http://www.activetrader-links.com/
How do you get budgeted sales?
Budgeted sales are estimated sales dependant on marketing research studies or past customer demands.
How would you describe a budgeted cost?
Budgeted costs are generally described as the best estimate about what should be allowed for forthcoming activity.
What is the definition of solvent association?
It means an association is in good financial standing with dues paid by members being more than the maintenance, insurance, and other budgeted items, thus having a surplus of funds.
What is the objective of financial controller in a company?
Accurately report the financial results of the company's operations in acordance with generally accepted standards. Produce reports for management which help then analyze and better understand what is going on in the company operations. Help produce company budgets and report spending and revenue against the budgeted numbers.
Fixed-overhead budget variance?
Fixed overhead budgeted variance is the difference between estimated budgeted cost and actual fixed overhead cost of production.
The actual expenses for the most recent fiscal quarter were 120 percent of budgeted expenses If the budgeted expenses were 7585 dollars then what were the actual expenses?
20.0 or .20
