Assignment Content

For this assignment, refer to the scenario located in Problems Series A, section 8-19A of Ch. 8, Performance Evaluation, of Fundamentals of Managerial Accounting Concepts. This scenario puts you in charge of preparing a budget for the Redmond Management Association annual public relations luncheon.

Read the scenario in the textbook and complete the activity below.

Use Excelshowing all work and formulasto complete the following:

Prepare a flexible budget.
Compute the sales volume variance and the variable cost volume variances based on a comparison between the master budget and the flexible budget.
Compute flexible budget variances by comparing the flexible budget with the actual results.

Create a 6- to 8-slide presentation for the budget committee meeting. Complete the following in your presentation:

Summarize the results of the sales volume and variable cost volume variances computations based on the comparison between the master budget and the flexible budget.
Summarize the results of the flexible budget variances computations based on the comparison between the flexible budget and the actual results.
Justify the favorable or unfavorable budget variances.
Since this is a not-for-profit organization, address why anyone should be concerned with meeting the budget.
Make recommendations for what can be done differently to stay on budget for future luncheons. Provide specific examples to support your recommendations.

Cite references to support your assignment.

Format your citations according to APA guidelines.

Submit your assignment.

Resources

Center for Writing Excellence
Reference and Citation Generator
Grammar and Writing Guides

600 word memo; not including the title page and references word count

Jefferson Industrial Machines (JIM) realizes the importance of being a good corporate citizen and makes generous contributions to worldwide charitable organizations. For the current year, JIM wants to contribute $1,500,000 to various charities. Based on prior year’s tax laws, if JIM’s taxable income before charitable contributions is $11,500,000 in the current year.

• Calculate the charitable contribution allowance for the current year.
• Provide a recommendation to JIM management regarding the tax implications of this contribution.

 

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