Unit 5 Assignment - Budgeting Submit Assignment Due Sunday by 11:59pm Points 80 Submitting a text entry box or a file upload Instructions In the introduction, we learned about the three functions of Managerial accounting: planning, directing, and controlling. The process of budgeting encompasses two functions: planning and controlling. The master budget is prepared at the beginning of the year as a planning tool to create plans designed to achieve the firm's goals. The budget is then used at the end of each accounting period to evaluate performance compared to the original plan, which is reflected in the budget. In this assignment, we will explore the many types of budgets and how they are prepared. Download the AC306 Unit 5 Assignment template (Excel) and complete the problems on each tab. In this assignment Problem 1 - Extended budget problem . Problem 2 - Flexible budget problem Assignment Objectives Demonstrate Describe managerial and internal uses of cost accounting data. Deliverables B 1 Enter titles and accounts in the green cells 2 Enter Numbers in the blue cells 3 Enter your Calculations in the yellow cells 4 Flexible Budgets 7 Sam the Sales Manager is confused with his review of the budget to actual report from last month. Sam felt he exceeded his goals and did not 8 spend all of his budget, but the report is showing negative numbers. variance Budget 80,000 Actual 100,000 (20,000) 11 Sales in units 12 Variable Expenses 13 Sales commissions 14 Marketing expense 15 Travel expense 16 Exhibit expenses 5,600 12,000 7,800 5,000 30,400 6,000 13,500 9,200 4,500 33,200 (400) (1,500) (1,400) 500 (2,800) 19 Fixed Expenses 20 Rent 21 Sales Salaries 22 Admin expenses Problem 1 1,500 1,200 800 1,500 1,200 800 Problem 2 Ready Review ULE View Tell me what you want to do A Bryanna Marie PROTECTED VIEW Be careful--files from the Internet can contain viruses. Unless you need to edit, it's safe to stay in Protected View UPDATES AVAILABLE Updates for Office are ready to be installed, but first we need to close some apps. Update now Enable Editing E39 22 Admin expenses 23 Depreciation sales -autos 24 Total fixed costs 25 Total expenses 800 500 800 500 4,000 4,000 Required: Reformat the budget report using the flexible budget then summarize the Sales activity for last month below. step 1 calc per unit (A) per unit (B) Orig Budget step 2 cal budget at actual (c)Budget setp 3 budget - actual (E)Difference step 4 - Determine Favorable Unfavorable (d)Actual F/U Sales in units 80,000 100,000 100,000 Variable expenses 38 Total Variable expenses 39 Fixed expenses Problem 1 Problem 2 Ready Home Insert Page Layout Formulas A Data Review AC306 Unit 5 Assignment template (Protected View) - Excel Tell me what you want to do View PROTECTED VIEW Be careful files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View UPDATES AVAILABLE Updates for Office are ready to be installed, but first we need to close some apps. Update now A Bryana Marie Hardy Enable Editing E59 38 Total Variable expenses 39 Fixed expenses 40 42 Total expenses Problem 1 Problem 2 Ready