Prepare Martin's Sales Budget for the fourth quarter of 2014
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Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
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- Students are required to work as an individual or Maximum group of three members. • Topic is Business Plan for a "Halal Business" Plan Business with 1-Million AED Capital and above (No upper limit). Your idea must be a unique as a new concept (Like Face book, google, etc) or modified existing business concept (e.g. Family airline for kids and moms) • Study market and justify the start of business-based on customer demands • Select location and collect correct information for required assets and purchase of assets (in AED) • Plan distribution channels-How to maintain supply line to customers • Estimate close to reality Human resource needs • Determine IT system requirement-closeto reality along with estimated cost (in AED) • Identify marketing channels-Include all electronic, print, event sponsor etc. Prepare a quarterly financial plan for at least five yearsRunningWithTheDevil.com created a web site to market running shoes and other running apparel. Management would like a special pop-up offer to appear for female web-site visitors and a different special pop-up offer to appear for male web-site visitors. From a sample of past web-site visitors, RunningWithTheDevil’s management learns that 60% of the visitors are male and 40% are female. What is the probability that a current visitor to the web site is female? Suppose that 30% of RunningWithTheDevil’s female visitors previously visited LetsRun.com and 10% of male customers previously visited LetsRun.com. If the current visitor to RunningWithTheDevil’s web site previously visited LetsRun.com, what is the revised probability that the current visitor is female? Should the RunningWithTheDevil’s web site display the special offer that appeals to female visitors or the special offer that appeals to male visitors?Before you begin this assignment review the Tying It All Together feature in the chapter. Best Buy Co., Inc. is a leading provider of technology products. Customers can shop at more than 1,700 stores or online. The company is also known for its Geek Squad for technology services. Suppose Best Buy is considering a particular HDTV for a major sales item for Black Friday, the day after Thanksgiving, known as one of the busiest shopping days of the year. Assume the HDTV has a regular sales price of $900, a cost of $500, and a Black Friday proposed discounted sales price of $650. Best Buy’s 2015 Annual Report states that failure to manage costs could have a material adverse effect on its profitability and that certain elements in its cost structure are largely fixed in nature. Best Buy, like most companies, wishes to maintain price competitiveness while achieving acceptable levels of profitability. (Item 1A. Risk Factors.) Requirements Calculate the gross profit of the HDTV at the regular…
- Creative Homework/Short Project Your friend's small business makes hand-crafted papers that she sells di- rectly to her customers online. Fortunately, her business is growing quickly, and she is considering selling her unique product to other businesses. From your market- ing class, you know that different channel structures exist for both consumer and B2B markets. Summarize the differences between these two channel structures. What advice can you give her?Share of Customer at the "Hopping Handbag Hut" You are the marketing analyst for an online retailer that specializes in selling women's handbags called the "Hopping Handbag Hut". Your company has an extensive CRM database. A previous analysis of the customer database has revealed 4 distinct segments of customers. Your company has tasked you with the challenge of increasing the average share of customer for members within each of the segments. Which segment appears to have the greatest opportunity for us to claim additional share of customer? Which segment may prove to be unprofitable for us to have used our new couponing campaign? Click the icon to view the handbag purchases table for the 5 segments. Segment with share of customer % appears to have the greatest opportunity for us to claim additional share of customer. (Round to the nearest percent.) Help Me Solve This More Info Segment Segment A Segment B Segment C Segment D Segment E 6-Months Prior # Handbags Bought at Handbag Hut…BUSINESS CASE: COMPETITIVE BUSINESS PLANAbiba is a young woman who works in a Tie & Dye Factory. She has worked with the company for eight years. She has been working at the same spot in the value chain since she started work and is responsible for ironing. She does not know anything about any other aspect of the business except for the ironing function she plays. She has however always fancied herself as a business owner one day and with each day, she becomes disinterested in her factory work. She is unhappy all the time and anxious to start her own business. She has always thought of being a fashion designer and had a moment of awakening! However, she had not saved enough money and a friend advised her to submit a business plan to a Venture Capitalist that would assess the economic potentials of the business and possibly assist her. Abiba initially submitted a business plan which consisted of six parts: an executive summary, a business description, a manufacturing segment, a…
- Analyzing a cost-volume-profit graph Nolan Rouse is considering starting a Web-based educational business, e-Prep MBA. He plans to offer a short-course review of accounting for students entering MBA programs. The materials would be available on a password-protected Web site; students would complete the course through self—study. Rouse would have to grade the course assignments, but most of the work would be in developing the course materials, setting up the site, and marketing. Unfortunately, Rouse’s hard drive crashed before he finished his financial analysis. However, he did recover the following partial CVP chart: Requirements Label each axis, the sales revenue line, the total costs line, the fixed costs line, the operating income area, and the breakeven point. It Rouse attracts 300 students to take the course, will the venture be profitable Explain your answer. What are the breakeven sales in students and dollars?The company el Ahuehuete, S.A., shows you the data of the credit applicants. Without knowing the rules and credit policies of this company. Each case will provide conditions for you to establish minimum criteria for granting credit. Once you have reached an agreement as a team, review who would be subject to credit according to these new policies that have been established. Dinora Velázquez. Homemaker. She manages the household and budgeted monthly household expenses amount to $16,000.00. Her husband is the breadwinner; he is a maquila worker and earns $30,000.00. They have 2 elementary school age children. She has a mortgage on the house they live in, which takes 20% of her family's income. Subject to credit? Would it be good for the company to lend you credit?Taylor Construction builds custom homes in Dallas, Texas. Brandon Taylor knows that his future depends on the quality of the homes he builds and the service he provides to customers. Most new-customer sales arise from word-of-mouth advertising by former customers.Identify the balanced scorecard perspective for each measure in the exercise. Perspective a. Number of customer complaints Internal business processesCustomerLearning & growthFinancial b. Employee turnover Learning & growthFinancialInternal business processesCustomer c. Net profit per house constructed Learning & growthFinancialInternal business processesCustomer d. Turnaround time on customer design changes Learning & growthInternal business processesCustomerFinancial e. Hours of training per employee Learning & growthFinancialInternal business processesCustomer f. Average labor cost per house CustomerLearning &…
- ABC Company is a small business that sells handmade crafts online. The company has been in operation for three years and has been profitable since its inception. The owner, Sarah, has decided to expand her business by renting a physical storefront in addition to her online sales. She plans to purchase inventory and hire an employee to help manage the physical storefront. Sarah wants to know how this expansion will affect her financial statements and overall profitability. 1. How will the purchase of inventory affect the financial statements 2. How will the hiring of an employee affect the financial statements 3. How will the rental expense for the storefront affect the financial statements ???ts?Required information [The following information applies to the questions displayed below.] Nicole's Getaway Spa (NGS) has been so successful that Nicole has decided to expand her spa by selling merchandise. She sells things such as nail polish, at-home spa kits, cosmetics, and aromatherapy Items. Nicole uses a perpetual inventory system and is starting to realize all of the work that is created when inventory is involved in a business. The following transactions were selected from among those completed by NGS in August. Aug. 2 Sold a bundle of spa services with a merchandise basket. when sold separately, the spa service part of the bundle sells for $448 and the merchandise basket normally sells for $192. Together, the bundle was sold to Val Amy for cash at a selling price of $510 (total). Val booked a spa treatment for August 1e, and she took the basket of goods with her. The goods had cost NGS $115. Aug. 3 Sold 5 identical items of merchandise to Cosmetics R US on account at a selling…MY NOTES ASK YOUR TEACHER Set up and solve an equation for the following business situation. Suppose one-sixth of the employees of a certain company work in the Southeastern region. If the company employs 249 workers in that region, what is the total number of employees working for the company? total employees