Nobody downloaded yet

Peyton Budget and Analyzing - Assignment Example

Comments (0) Cite this document
In the paper “Peyton Budget and Analyzing” the author seeks to establish the variances that exist between budget estimates and actual results. The variance analysis of Peyton Approved discusses the variances in the Peyton budgets and possible causes to these variances…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94% of users find it useful
Peyton Budget and Analyzing
Read TextPreview

Extract of sample "Peyton Budget and Analyzing"

Download file to see previous pages The sales budget for Peyton Approved shows that the company forecasts sales to be $1,080,000 for the quarter ending September 2015. To cover the sales and the required ending inventory, the company needs to produce 60,000 units. That would require 27,380 units of raw material at a cost of $212,195. The total labor requirement is 30,000 hours at a cost of $480,000. While the budget estimate for direct material for the period is 36,320 units, the actual amount of direct labor is 31,000 units. The budgeted price per unit of direct material is $7.75. It is also the actual price. Given the difference is only on the number of units of direct material, the direct material price variance is zero. As for the direct material efficiency variance, the company records a favorable efficiency variance of $41,230. That gives a favorable total material variance of $41,230.
There was no material price variance as the budget price and the actual price were the same. As for the favorable efficiency variance, there may have been several causes. As the actual production shows, there was less direct material usage than the budget estimates. That may have been a result of efficiency in utilizing material in the production process. The procurement process may also have contributed to the favorable efficiency variance. Where there is purchase of high quality material, there would probably be no wastage and the production may use up less material than the estimates (Nobles, Mattison and Matsumura, 2014). ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Peyton Budget and Analyzing Assignment Example | Topics and Well Written Essays - 1250 words”, n.d.)
Peyton Budget and Analyzing Assignment Example | Topics and Well Written Essays - 1250 words. Retrieved from
(Peyton Budget and Analyzing Assignment Example | Topics and Well Written Essays - 1250 Words)
Peyton Budget and Analyzing Assignment Example | Topics and Well Written Essays - 1250 Words.
“Peyton Budget and Analyzing Assignment Example | Topics and Well Written Essays - 1250 Words”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Peyton Budget and Analyzing

Budget the future. Clinical financial officers may use performance based strategy. This strategy employs performance based dashboard and matrices to determine the proximate cause for a variance and look on necessary measures that can be employed to remedy the situation (Brookson, 2000). Additionally, clinical financial officers may apply zero based strategy to control budget. In this strategy, each expense incurred is assessed and necessary recommendations are made thereafter (Finkler & McHugh, 2008). Bench marking strategy may be used whereby; information of the best performing hospitals may be gathered and analyzed. The information gathered may be used by clinical financial officers and hospital managers...
5 Pages(1250 words)Assignment


...Analyzing American Public Schools United s public education system has undergone several reforms in the past mostly intended to improve performance and graduation rate. However due to certain underlying issues, certain population of students are succeeding in US public schools and others are not. This can be attested to by the consistent reduction in the graduation rates and consistent poor test results across many public schools. Moreover, the United States has begun experiencing the impact of low performance since most American graduates cannot be employed and the nation has to depend on graduates from Europe and Asian countries. However, many American believe in the ability of their public education to satisfy the...
3 Pages(750 words)Essay

Case study analysis of a predetermined international fashion organisation (topshop)

...such as bedding and towels, and variety of household products are made of linen, which offers the pleasure of comfort in wide range of products (Jean, 2004). The Brand Extension necessarily requires the provisions for the commonality of the features, which shall not be applicable in some of the cases, for instances the concept is irrelevant for brand offering clothing and food products. The product on which the concept of Brand Extension is applied shall of provisions for synchronization and adaptability. However the scheme of Brand Extension requires time and sufficient budget which is essential for the brand promotion, however it has the potential to minimize the financial risk only because the commonality of the brand...
20 Pages(5000 words)Essay


...). This has led to an increased interest in research on this topic, and to analyze whether the current approaches of budgeting hinder the effectiveness of modern organizations. Arguments against Budgets: The dysfunctional consequences of budget have often been raised, even since 1950s, and today there is no practitioner who does not believe in at least one of these concerns (Hansen et al., 2003). Dynamic Business Environment: The present business environment presents a very dynamic situation in front of the managers. In this scenario, budget is seen as a constraint rather than as a planning tool. As a result of this dynamic business environment, the...
4 Pages(1000 words)Essay

Budget Simulation

...BUDGET SIMULATION Introduction Government spending entails all government investments, consumption, and excludes payments transfers made by any state. State’s acquisition of services and products with the aim of usage in direct satisfaction of individuals or other collective needs of community members is referred as State final consumption expenditures. The government acquires these goods and services with the aim of creating future benefits. Such benefits include research findings, investments, education, among others. This spending is grouped into two: mandatory and discretionary. Mandatory spending incorporate all authorized spending by any State’s legislation (parliament) while discretionary spending includes all...
2 Pages(500 words)Assignment

Analyzing a Budget

...Analyzing a budget One of the strengths of the budget is that it is to be used for a specific duration. (April year to date) Good budgets are often prepared bearing in mind that they will be used to show the expenditures and revenues that a certain company, country or family will undergo for a particular period of time. [Sullivan 2003] Thus, by so stating, the period of the above budget has clearly been stated. It is also evident that it is accompanied with specific monetary terms. Good budgets often have specific monetary terms accompanied with them (Sullivan 2003). As for the viewed budget, terms like expenditure and...
2 Pages(500 words)Essay

Budget Requirements

...Budget Requirements Budget Proposal As a new Non-Governmental Organization (NGO) we are committed to improving the lives of impoverished children living under poor conditions in Jacksonville Community. In this community, there are a lot of children who are still facing a lot of challenges because of their backgrounds. Because of their low economic status, they do not have enough resources to acquire quality education. For this reason, our organization will carefully select children from 50 families within this community. However, for a family to qualify for sponsorship, it must be needy and meet all the requirements. The selected families will be offered free training, education and mentorship programs until they qualify to leave... the...
5 Pages(1250 words)Coursework

Training Budget

...Training budget Affiliation Introduction Every company or organization usually desires to achieve the best by hiring well and qualified personnel so that they can maximize on their outputs from the investment inputs. Thus there is need to develop a program within them that will help identify or improve the productivity of their workers (Waagen, 2000). As a result various organizations have a developed a training program that will ensure they get the best individuals that will increase efficiency. However the training initiative will make the company to incur an extra cost and thus do require a good budgeting plan as to how to implement the process. Preparation for the training The training will start by various preparations so... ...
4 Pages(1000 words)Essay


...Budget due: The major elements in the fire department’s budget are in infrastructure and equipment improvement and expansion of fire service operations. These elements are catered for in the whole budget that amounts to approximately to $69 million in the infrastructure, equipment improvement and expansion (Ballam, 2013). Nevertheless, for the previous fiscal year, the anticipated plan has on average revenues totaling $2.5million. The infrastructure improvement budget suggests expenses totaling to a tune of around $1.7 million, with an additional $0.5 Million in the special entertaining fund and carryover for about $0.35 million. The budget cuts across...
2 Pages(500 words)Assignment


...for the spending (p. 145). Do Soft Earmarks Add to Total Spending? Soft earmarks do not add to the total spending because they do not involve the allocation of additional funds to any department. On the contrary, soft earmarks make requests of how a specific portion of the existing budget can be spent. The fact that they only represent a small percentage of the government’s outlets on an annual basis serves to emphasize that they do not count in the total spending (p. 146). Do you believe Control of Ear Marks to be an Important Public Issue? In my opinion, the control of earmarks is an important public issue because it concerns federal funds. Notably, earmarked funds determine projects in a state that will receive...
2 Pages(500 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Assignment on topic Peyton Budget and Analyzing for FREE!

Contact Us