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Examination questions Question 1 ■ On 1 September each year, Salemis Limited begins the task of preparing budgets for the coming year. The various stages in the budgeting process have been identified as follows (see next table). ■ The whole process must be completed by the end of December which gives a period of 17 working weeks. STAGES A Estimate wage rates B Develop market forecast C Fix selling prices D E Prepare sales quantities budget Prepare sales revenue budget F Prepare selling expenses budget G Prepare prod. quantities budget H Prepare overheads budget I Prepare manpower budget Prepare materials budget Prepare equipment budget Produce overall profit forecast J K L PRECEDING STAGE(S) B C, D A, D D A A, G G G E,F,H,I,J,K TIME (WEEKS) 2 4 3 3 3 6 4 2 5 1

Examination questions Question 1 ■ On 1 September each year, Salemis Limited begins the task of preparing budgets for the coming year. The various stages in the budgeting process have been identified as follows (see next table). ■ The whole process must be completed by the end of December which gives a period of 17 working weeks. STAGES A Estimate wage rates B Develop market forecast C Fix selling prices D E Prepare sales quantities budget Prepare sales revenue budget F Prepare selling expenses budget G Prepare prod. quantities budget H Prepare overheads budget I Prepare manpower budget Prepare materials budget Prepare equipment budget Produce overall profit forecast J K L PRECEDING STAGE(S) B C, D A, D D A A, G G G E,F,H,I,J,K TIME (WEEKS) 2 4 3 3 3 6 4 2 5 1

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Can anyone solve this problem?

1.Draw a network to represent the sequence of
stages involved in the preparation of budgets.
2. Can the whole process be completed within
the required period of 17 weeks?
3. If it is necessary to reduce the time taken to
complete the budgeting process, which stages
should be investigated and why?
4. Explain the difference between total float, free
float and independent float. Show that stage 1
has a free float of 3 weeks, of which 2 weeks
are independent float.

Examination questions Question 1 On 1 September each year, Salemis Limited begins the task of preparing budgets for the coming year. The various stages in the budgeting process have been identified as follows (see next table). ■ The whole process must be completed by the end of December which gives a period of 17 working weeks. A Estimate wage rates B Develop market forecast C Fix selling prices D Prepare sales quantities budget Prepare sales revenue budget Prepare selling expenses budget G Prepare prod. quantities budget H Prepare overheads budget I E F STAGES J K L Prepare manpower budget Prepare materials budget Prepare equipment budget Produce overall profit forecast PRECEDING TIME STAGE(S) (WEEKS) B C, D A, D D A A, G G G E,F,H,I,J,K 2 4 3 3 1 3 6 4 2 3 5 1
Transcribed Image Text:Examination questions Question 1 On 1 September each year, Salemis Limited begins the task of preparing budgets for the coming year. The various stages in the budgeting process have been identified as follows (see next table). ■ The whole process must be completed by the end of December which gives a period of 17 working weeks. A Estimate wage rates B Develop market forecast C Fix selling prices D Prepare sales quantities budget Prepare sales revenue budget Prepare selling expenses budget G Prepare prod. quantities budget H Prepare overheads budget I E F STAGES J K L Prepare manpower budget Prepare materials budget Prepare equipment budget Produce overall profit forecast PRECEDING TIME STAGE(S) (WEEKS) B C, D A, D D A A, G G G E,F,H,I,J,K 2 4 3 3 1 3 6 4 2 3 5 1
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