Budget and Financial Panning
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Finance
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Jun 4, 2024
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Budget and Financial Planning
Takara Wilson
University of Phoenix FIN/375
Sean Colletto 4/23/2024
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Budget and Financial Planning I am planning on starting transportation / trucking business and the products to start my buisness is twenty thousand dollars for fuel and rental of office space unless I start out using my home space, vendors freight to carry, and drivers for my two trucks.
The raw materials that I will need is to include my office supplies, the fuel, printer, desk, chair, computer, paper, pens, charting board, log planning books, software of the truckers and ways to track the trucks alone with miles traveled for fuel cost. Since we are not on the selling buisness to be selling anything, we will bid on our loads and gain our vendors through networking and our reputation. Starting off we will create a budget to bring in revenue by managing the mileage to deliver the freight and wether or not we will have empty miles coming out of that area. Empty miles are the miles we do not get paid for but the miles we will have to pay our driver for driving
those miles. They are considered lost miles. We will also have to take into consideration the fuel to and from the area into our budget. By doing so we will know if it is worth taking or leaving that vendor alone. We will be geared to provide our customers with the best possible service they can ever be offered. We will stand behind our service and hold ourselves to the highest standard to gain their trust and want us and only us to provide them with our services. We will start by getting our
customers locally and branch out from there. We also want to give our employees a grantee pay so that we do not have a high turn over rate and mess it up for us when it comes down to growing
and employment opportunities or reputation.
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You plan on starting a lawn mowing business by investing $700 of your own money and purchasing $500 of equipment. You plan to work 80 hours in your first month
and 370 hours in your second month of business. You charge your customers $24 per hour. Your anticipated costs include:
Advertising
Gas
Depreciation
Assistant's Wages
Miscellaneous Expenses
You plan on collecting 90% of your sales in the month you mow the lawn and the remainder in the following month. Calculate the accounts receivable balance at the end
of your second month of business.
Click Save and Submit to save and submit. Click Save All Answers to save all answers.
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$1.40 per hour
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$8.00 per hour
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Subject: acounting
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Please do not give solution in image format thanku
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Plsss help
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answer in 30 mins.
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Answer this Accounting problem
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QUESTION
JTET Sdn Bhd is an automotive manufacturing company located at Hicom Industrial
Park. Currently, the owner, Mr Arifin is considering to open a new branch that is located
at Pontian, Johor. He has asked you to help him to prepare cash budget over the first
three months of operation, starting October 2021. The following information is available:
Octobe Novembe Decembe
Sales
Purchase
Overhead
60,000 66,000
22,000 24,100
69,000
32,200
2,650
2,500
3,600
Additional
Information:
• Mr Arifin is expected to contribute RM 100,000 cash as capital in order to set up the
new branch.
• In October, Mr Airifin will need to pay a rental deposit of RM10,000 and monthly
rental of RM5,000 for the factory building.
• 1/3 of the sales are cash sales. Total credit sales are expected to be paid:
• 40% in the month of sales
• 60% one month after sales
Overhead includes RM 650 depreciation per month and paid one month in arrears.
All purchases payment to suppliers will be paid in two equal instalments.…
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Question ENGINEERING ECONOMICS
You want to launch a printing services business on campus. The initial cost to get the business running with a September 1st launch date would be $2,000. You estimate that the revenues would approximately offset your costs (e.g. paper, toner, etc.) in the first month of operation so that the monthly profit would be $0. Afterwards, you estimate that profits would increase by $80 each month until the end of the academic year (i.e. $80 profit in October, $160 profit in November, etc. until the end of April). Your annual MARR is 10%, compounded monthly. (a) Calculate the internal rate of return for your investment based on an 8 months study period. Select the appropriate IRR between options 1 to 4 below. (b) Suppose that you now consider another investment opportunity for your printing business services, also with monthly profits, and the internal rate of return of 3%. Is this alternative economically feasible based on IRR?
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I need all the work and all the calculations and how you get all the numbers also show me all the steps
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Homework Assignment #13
E Print Item
Pompeii's Pizza has a delivery car that it uses for pizza deliveries. The transmission needs to be replaced and there are several other repairs that need to be done. The car is nearing the end of its life, so the options
are to either overhaul the car or replace it with a new car. Pompeii's has put together the following budgetary items:
Present Car
New Car
Purchase cost new
$32,000
Transmission and other repairs
$8,000
Annual cash operating cost
13,000
10,000
Fair market value now
5,000
Fair market value in five years
1,000
5,000
If Pompeii's replaces the transmission of the pizza delivery vehicle, they expect to be able to use the vehicle for another 5 years. If they sell the old vehicle and purchase a new vehicle, they will use that vehicle for 5
years and then trade it in for another new pizza delivery vehicle. If they trade for the new delivery vehicle, their operating expenses will decrease because the new vehicle is more gas efficient and the…
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QUESTION 1
ABC Company is a maker of chairs for schools and universities
They have provided you with the following financial information. You are required to prepare a contribution margin income statement
Selling price per chair
$338
Materials per chair
Labor cost per chair
$60
$40
$1,000
Rent
Salary of a Security guard
Salary of the manager
How many units would they have to sell to breakeven?
$1,000
$1,000
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None
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You plan on starting a lawn mowing business by investing $700 of your own money and purchasing $500 of equipment. You plan to work 310 hours per month and charge your customers $15 per hour. Your anticipated costs include:
Advertising
$31 per month
Gas
$1.50 per hour
Depreciation
$25 per month
Assistant's Wages
$8.00 per hour
Miscellaneous Expenses
$50 per month
Calculate your budgeted sales revenue for the year.
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i need the answer quickly
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Please answer the 2 questions below
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Urmila
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Please help me with all answers thanku
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i need the answer quickly
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What is the answer???
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Q1
Bauss Company, a manufacturer of bicycles, started its production in December 2019. For the preceding 5 years Boss Co. had been a retailer of bicycles. After a thorough survey of bicycles markets, management of the Bauss Co. decided to turn its retail store into a bicycles manufacturing factory.
Cost of steel frame for a bicycles will total to $80 per unit. The cost of tires for every bicycle would be $25. Workers on the production lines are on average paid $35 per hour. A bicycle usually takes 8 hours to complete. In addition, the rent on the equipment used to assemble bicycle amounts to $6,000 per month. Indirect materials cost $7 per bicycle. A supervisor was hired to oversee production; her monthly salary is $3,500.
Factory cleaning costs are $1,500 monthly. Utility costs amounts to $250 per month. Advertising costs to sell bicycles will be 10,500 per year. The factory building depreciation expense is $2,400 per month. Property taxes on the factory building will be $9,900 per…
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Relevant Cost Irrelevant Cost
or Benefit
Opportunity
Cost
Sunk Cost
or Benefit
$40,000 salary from Shelton
Anticipated $48,000 salary with an accounting degree
Tuition and books for years 1-3 of college
Cost to relocate to Seattle
Tuition and books for remaining two semesters
$19,000 from your part-time job, which you plan to keep until
you graduate
Cost to rent an apartment in Seattle (assume you are currently
living at home with your parents)
Food and entertainment expenses, which are expected to be
the same in Seattle as where you currently live
Increased promotional opportunities that will come from having
a college degree
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Can you solve #2 a-d please
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You plan on starting a lawn mowing business by investing $700 of your own money and purchase $500 of equipment. You plan to work 260 hours per month
and charge your customers $23 per hour. Your anticipated costs include:
$25.00 per month
$26.00 per month
$1.40 per hour
Assistant's Wages
$9.00 per hour
Miscellaneous Expenses
$40.00 per month
Calculate your Variable cost per hour on the budgeted contribution margin income statement.
Depreciation
Advertising
Gas
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Related Questions
- can u help mearrow_forwardHelparrow_forwardesc You plan on starting a lawn mowing business by investing $700 of your own money and purchasing $500 of equipment. You plan to work 80 hours in your first month and 370 hours in your second month of business. You charge your customers $24 per hour. Your anticipated costs include: Advertising Gas Depreciation Assistant's Wages Miscellaneous Expenses You plan on collecting 90% of your sales in the month you mow the lawn and the remainder in the following month. Calculate the accounts receivable balance at the end of your second month of business. Click Save and Submit to save and submit. Click Save All Answers to save all answers. 1 Q A 2 W $8 per month $1.40 per hour $25 per month $8.00 per hour $40 per month S # 3 E D $ 4 R 67 dº % 5 LL MacBook Pro T < 6 G & Y 7 H * 00 8 U J oarrow_forward
- answer in 30 mins.arrow_forwardAnswer this Accounting problemarrow_forwardQUESTION JTET Sdn Bhd is an automotive manufacturing company located at Hicom Industrial Park. Currently, the owner, Mr Arifin is considering to open a new branch that is located at Pontian, Johor. He has asked you to help him to prepare cash budget over the first three months of operation, starting October 2021. The following information is available: Octobe Novembe Decembe Sales Purchase Overhead 60,000 66,000 22,000 24,100 69,000 32,200 2,650 2,500 3,600 Additional Information: • Mr Arifin is expected to contribute RM 100,000 cash as capital in order to set up the new branch. • In October, Mr Airifin will need to pay a rental deposit of RM10,000 and monthly rental of RM5,000 for the factory building. • 1/3 of the sales are cash sales. Total credit sales are expected to be paid: • 40% in the month of sales • 60% one month after sales Overhead includes RM 650 depreciation per month and paid one month in arrears. All purchases payment to suppliers will be paid in two equal instalments.…arrow_forward
- Question ENGINEERING ECONOMICS You want to launch a printing services business on campus. The initial cost to get the business running with a September 1st launch date would be $2,000. You estimate that the revenues would approximately offset your costs (e.g. paper, toner, etc.) in the first month of operation so that the monthly profit would be $0. Afterwards, you estimate that profits would increase by $80 each month until the end of the academic year (i.e. $80 profit in October, $160 profit in November, etc. until the end of April). Your annual MARR is 10%, compounded monthly. (a) Calculate the internal rate of return for your investment based on an 8 months study period. Select the appropriate IRR between options 1 to 4 below. (b) Suppose that you now consider another investment opportunity for your printing business services, also with monthly profits, and the internal rate of return of 3%. Is this alternative economically feasible based on IRR?arrow_forwardI need all the work and all the calculations and how you get all the numbers also show me all the stepsarrow_forwardHomework Assignment #13 E Print Item Pompeii's Pizza has a delivery car that it uses for pizza deliveries. The transmission needs to be replaced and there are several other repairs that need to be done. The car is nearing the end of its life, so the options are to either overhaul the car or replace it with a new car. Pompeii's has put together the following budgetary items: Present Car New Car Purchase cost new $32,000 Transmission and other repairs $8,000 Annual cash operating cost 13,000 10,000 Fair market value now 5,000 Fair market value in five years 1,000 5,000 If Pompeii's replaces the transmission of the pizza delivery vehicle, they expect to be able to use the vehicle for another 5 years. If they sell the old vehicle and purchase a new vehicle, they will use that vehicle for 5 years and then trade it in for another new pizza delivery vehicle. If they trade for the new delivery vehicle, their operating expenses will decrease because the new vehicle is more gas efficient and the…arrow_forward
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- Managerial Accounting: The Cornerstone of Busines...AccountingISBN:9781337115773Author:Maryanne M. Mowen, Don R. Hansen, Dan L. HeitgerPublisher:Cengage Learning
- Managerial AccountingAccountingISBN:9781337912020Author:Carl Warren, Ph.d. Cma William B. TaylerPublisher:South-Western College PubCornerstones of Cost Management (Cornerstones Ser...AccountingISBN:9781305970663Author:Don R. Hansen, Maryanne M. MowenPublisher:Cengage Learning
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