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Using the case study and rubric, I need to create the following (under the blue tabs in Excel): Overview: This assessment focuses on the SRS Educational Supply Company case study. The company provides...

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Using the case study and rubric, I need to create the following (under the blue tabs in Excel):
Overview: This assessment focuses on the SRS Educational Supply Company case study. The company provides educational materials and supplies to educational
institutions. The SRS business model is to be a one-stop provider of educational supply needs. For example, some of their product lines include educational
workbooks, classroom visual aids, instructor support materials, art supplies, lab supplies, and administrative office supplies. While SRS serves all levels of
educational institutions, the majority of its customers are K–12 schools. Sales can vary quite a bit from month-to-month, as K–12 educational institutions have
seasonal ordering patterns. Thus, budgeting is vital for planning and cash-flow purposes. SRS has a June 30 fiscal year end.
For Milestone One of Final Project II, you will create department budgets for the four main departments of SRS Educational Supply Company: Sales, Purchasing
Operation, and Finance.
Prompt: Assume you are the new cost accountant at SRS. In this new position, you have been asked to perform a few tasks for the company’s leadership team.
The company has four main managers: sales manager, purchasing manager, operations manager, and finance manager. Each manager has general information
about the company as a whole, as well as information about their own department—private information known only by this departmental manager—that is
more accurate than the general corporate information.
First, review the information for Final Project II. Then, using the Final Project II workbook, complete the four department budgets for the three-month period
beginning July 1 and ending September 30.
Specifically, you must address the critical elements listed below:
I. Budgeting: Prepare Budgets
A. Review the financial information and enter data into the correct tabs in the Final Project II workbook. Be sure to complete all the relevant tabs in
the workbook. Complete the following:
i. A sales budget by month and in total
ii. A schedule of expected cash collections from sales by month and in total
iii. A merchandise purchase budget in dollars by month and in total
iv. A schedule of expected cash disbursements for merchandise purchases by month and in total
v. A selling and administrative budget by month and in total
vi. A schedule of expected cash disbursements for selling and administration by month and in total
vii. A cash budget by month and in total
Answered 2 days After Sep 23, 2022

Solution

Casumano answered on Sep 26 2022
39 Votes
ACC 311 Final Project II Student Workbook
Instructions
    Southern New Hampshire University
    Final Project II
    ACC 311 - Cost Accounting - STUDENT WORKBOOK
    MILESTONE ONE (Due in Module Five)                FINAL PROJECT (Due in Module Seven)
    1.                    1.
        Prepare Sales Budget                    Prepare Budgeted Income
        Prepare Schedule of                     Statement
        Expected Cash Collection                    Prepare Budgeted Balance
        From Sales                    Sheet
    2.                    2.     Reporting
                            *Refer to Final Project II Assignment Guidelines and Ru
ic document
        Prepare Merchandise
        Purchases Budget                    In a separate Word document
        Prepare Schedule of Expected                    Analyze Data
        Cash Disbursements for                    1. Briefly summarize each department's
        Merchandise Purchases                     budget - its purpose, what the
                             numbers represent, how they
    3.                         can be used. Also, discuss the
                             month to month variances, what
        Prepare Selling and Admin                     they mean, and why they are
        Budget, Including Expected                     important
        Cash Disbursements
                            2. Explain two variances that might
    4.                         cause concern or prompt furthe
                             analysis.
        Prepare Cash Budget
                            In a separate Word document
                            or PowerPoint Presentation
                            Executive Brief Presentation
                            1. Create an executive
iefing
                             presentation in which you
iefly
                             summarize all budgets. Include all
                             supporting documentation as
                             addendums to the
ief.
Sales Budget
xl/drawings/drawing1.xml#'Part%20II%20Sales%20Budget'!A1Admin Budget
xl/drawings/drawing1.xml#'Part%20II%20Admin%20Budget'!A1Purchasing Budget
xl/drawings/drawing1.xml#'Part%20II%20Purchasing%20Budget'!A1Financial Statements
xl/drawings/drawing1.xml#'Part%20II%20Financials'!A1Instructions Milestone 1
xl/drawings/drawing1.xml#'Milestone%20One%20Instructions'!A1Instructions Final Project
xl/drawings/drawing1.xml#'Instructions%20Final%20Project%20II'!A1Cash Budget
xl/drawings/drawing1.xml#'Part%20II%20Cash%20Budget'!A1
Milestone One Instructions
    Southern New Hampshire University
    College of Continuing Education (COCE)
    ACC 311 - Cost Accounting - STUDENT WORKBOOK
    INSTRUCTIONS FOR MILESTONE 1 (Due Week 5)
    IMPORTANT NOTES:
    Make sure to completely review the Milestone One Final Project II Ru
ic.
    Use the data from this milestone and begin work on your final presentation, which is due in Module Seven.
    ITEMS TO COMPLETE FOR THIS MILESTONE (Blue Tabs):
    GENERAL
    You are the accountant tasked with creating the master budget for SRS Educational Supply Company. You have made your budget assumptions (see the red tab labeled Part II Assumptions) and are ready to prepare the following:
    SALES BUDGET
    Prepare the sales budget by month and in total.
    Prepare a schedule of excepted cash collections from sales by month and in total.
    PURCHASING BUDGET
    Prepare a merchandise purchases budget by month and in total.
    Prepare a schedule of expected cash disbursements for merchandise purchases by month and in total.
    ADMIN BUDGET
    Prepare a selling and admin budget by month and in total.
    Add expected cash disbursements for selling and admin by month and in total.
    CASH BUDGET
    Prepare a cash budget by month and in total.
    FINANCIAL INFORMATION FOR BUDGETS - SEE PART II ASSUMPTIONS (RED TAB)
HOME
xl/drawings/drawing2.xml#Instructions!A1
Part II Assumptions
    MOST LIKELY NUMBERS AND ASSUMPTIONS
    SALES MANAGER PRIVATE INFORMATION    July    August    September    Octobe
     Most likely sales    $ 600,000    $ 910,000    $ 475,000    $ 385,000
                            Inventory Purchase schedule
    PURCHASING MANAGER PRIVATE INFORMATION    Part 1 Information
     Most likely cost of merchandise as a % of sales    45%    ₹ 409,500.00    ₹ 213,750.00    ₹ 173,250.00
     Desired ending inventory as a percentage of next month's cost of sales    20%    $ 182,000    ₹...
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