Question: FNSACC513 Manage Budgets and Forecasts Assessment Task 01 - Assignment Question 01: (a) What is a Budget? What are the four key uses/purpose of a

FNSACC513 Manage Budgets and Forecasts Assessment Task 01 - Assignment Question 01: (a) What is a Budget? What are the four key uses/purpose of a Budget? (Discuss in 100 - 150 Words) (b) How do Budgets assist Management with the Role of Planning? (Discuss in 100 - 150 Words) (c) List four Benefits and four Limitations of Budgeting. (d) How do Budgets support the role of Financial Management? How budget can assist in achieving Good Governance? (Discuss in 150 - 200 Words) (e) For each of the following business operations explain why budgets are required (Discuss in 40 - 60 Words): (i) Marketing (ii) Production (iii) Human Resources. (f) A Company produces a single Product. Cost and Revenue details are as follow: Selling Price $10.00 per Unit 100% Variable Cost - 6.00 per Unit 60% Contribution Margin $4.00 per Unit 40% Total Fixed Costs $60,000 per annum. Required: (i) Calculate Sales Breakeven in Dollars. (ii) Ascertain the Breakeven point by completing a graph of the above showing the Cost Volume Profit Analysis with Revenues and Costs on the Y axis and Level of Activity Units on X axis. (iii) Prepare an Income Statement when 15,000 units are sold. (iv) Prepare

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