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2 years ago

Discuss which financial management practices are least effective in creating and monitoring an operating budget.

1 answer:

6 0

Top down/bottom up budgets, lack of control, poor inventorying, lack of staff investment, over control are the least effective financial management practices in creating and monitoring an operating budget.

The operating budget includes the expenditures and revenues generated by the company's daily business functions. The operating budget focuses on operating expenses, such as the cost of goods sold in the market, also known as the cost of sold goods (COGS), and revenue or income. COGS is the cost of direct labor and direct materials used in the production process.

The operating budget also includes overhead and administration costs that are directly related to manufacturing goods and providing services. However, capital expenditures and long-term loans will not be included in the operating budget. Budgets for sales, production process or manufacturing, labor, overhead, and administration are a few examples of frequently utilized operating budgets.

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algol [13]

Answer:

Noel

Explanation:

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3 years ago

Read 2 more answers

Logan owns a horse ranch. Logan dislikes horses, but he opened the ranch because he heard it was a lucrative business and he wan

Mama L [17]

Answer:

Logan Horse Ranch

The most accurate is:

e. None of the above are correct

Explanation:

Logan's payment to his brother, Luke, of $500 per hour, is not a reasonable business expense that can be deductible. Surely, $500 per hour is not a going rate for cleaning the horse stalls per hour. With Lucy doing grocery shopping for Logan, it does not resonate like an ordinary and necessary expense for the business. Therefore, options A to D are not correct. This leaves only option E as the most accurate.

3 0

3 years ago

Wasson's Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year are:

kogti [31]

a. The determination of the profit margin per hour on labor is $510,048 ($68.10 x 12,600 - $348,012).

b. The determination of the profit margin on materials is $242,359.94 ($510,048 x 83.2% - $182,000).

c. The determination of the total price of labor and materials on a job completed after the fire requiring 150 hours of labor and $62,000 in parts and materials is as follows:

Labor Materials

Hours required 150 hrs. $62,000

Total price $10,215 ($68.10 x 150) $51,584 ($62,000 x 83.20%)

<h3>What is the profit margin?</h3>

Profit margin is computed as the revenue minus the expenses.

For trading organizations, the profit margin is the difference between the sales revenue and the operating expenses.

<h3>Data and Calculations:</h3>

Estimated total labor hours = 12,600

Expected parts and materials costs = $1,300,000

Time Charges Material Loading

Charges

Restorer's wages and fringe benefits $281,736 -

Purchasing agent's salary and fringe benefits - $81,000

Administrative salaries and fringe benefits 50,526 21,180

Other overhead costs 15,750 79,820

Total budgeted costs $348,012 $182,000

Hourly labor rate = $68.10

Material loading charge = 83.20%

Learn more about profit margins at brainly.com/question/1231184

6 0

2 years ago

If Dominion Bank also pays 3.25% annual interest, compounded daily. If you had the following deposits and withdrawals, calculate

dimaraw [331]

Answer:

It would have earned 15.91 dollars of interest

Explanation:

We will calcualte for compounding at each moment:

First, we will calculate for $6,500 for March 1st to March 15th:

Then, from March 16th to march 27th we calculate for $5,000 + accrued interest of the peri

and from March 28th to 31th we calcualte $5,700 + accrued interest

$Principal (1 + \frac{r}{m} )^{n \times m} = Amount$

n = 15/365 days

m = 365

r = 0.0325

$6,500 (1 + \frac{0.0325}{365} )^{15/365 \times 365} = Amount$

6508.69

Then we withdraw 1,500

And we calcualte for hte period marchth to March 27th for the currnet value: 5,008.69

$5,008.69 (1 + \frac{0.0325}{365} )^{11/365 \times 365} = Amount$

Amount: 5,013.60

Then we deposit 700 and calcualte the rest of the month:

$5,713.60 (1 + \frac{0.0325}{365} )^{11/365 \times 365} = Amount$

Amount: 5,715.64

We can now calcualtethe interest earned:

6,508.96 - 6,500 = 8.96

5,013.60 - 5,008.69 = 4.91

5,715.64 - 5,713.60 = 2.04

total interest = 15.91

5 0

3 years ago

Which of the following is an internet tool that can notify you when people are talking about your company

Liula [17]

Answer:

Google Alerts

Explanation:

Google alerts is a notification services provided by google in order to detect how much a certain word or terms were being said on the web.

If you use Google alerts service, You can set up the name of your product or company as the key word and the alert will send you notification in case your product or company is mentioned in online conversation.

This service can be used to measure how well your company's reputation is within online communities.

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3 years ago