Cover page Name Student number Submission date:Read this firstInstructions for students 1. Instructions on how to proceed with this assignment are provided in the...

accounts assignment and file has been shared


Cover page Name Student number Submission date: Read this first Instructions for students 1. Instructions on how to proceed with this assignment are provided in the handout. 2. Read the instructions carefully and proceed in the sequence indicated in the Word document. 3. Ensure that there are no plugged values in cells. Only cell references to be used. 4. Upon completion, upload this workbook and the 'Memo to CEO' , to the designated folder in eConestoga. 5. If you have questions, reach out to your Professor Static Budget (Company name) Operating Budget for the period Jan - Dec '21 Quarters 1234YearMarksStudent Mark Sales budget Sales Commercial2 Sales residential Total sales Direct material budget Variable costs commercial2 Variable costs residential Total variable costs Labour budget Commercial2 Residential Total labour Fixed Overhead: 2 Total Total8- Actual Budget (Company name) Operating Budget for the period Jan - Dec '21 Quarters 1234YearMarksStudent Mark Sales budget Sales Commercial Sales residential2 Total sales Direct material budget Variable costs commercial2 Variable costs residential Total variable costs Labour budget Commercial2 Residential Total labour Fixed Overhead: 2 Total Total8- Flexible Budget SCS Flexible budget for the period Jan - Dec '20 Quarters 1234YearMarksStudent Marks Sales budget Sales Commercial Sales residential2 Total sales Direct material budget Variable costs commercial2 Variable costs residential Total variable costs Labour budget Commercial2 Residential Total labour Fixed Overhead: 2 Total Total 8- Var Analysis - Static and Flex SCSSCS Flexible budget for the period Jan - Dec '20Flexible budget for the period Jan - Dec '20Student Static Budget VarianceFlexible Budget VarianceMarksMarks Actual for the yearStatic for the yearVarianceU / FActual for the yearFlexible for the yearVarianceU / F Sales budget Sales Commercial1 Sales residential1 Total sales1 Direct material budget Variable costs commercial1 Variable costs residential1 Total variable costs1 Labour budget Commercial1 Residential 1 Total labour1 Fixed Overhead: 1 1 1 1 Total1 Total14- In these columns identify whether the variance if favourable "F" or unfavourable "U" Material variances Direct Materials - Commercial Marks Student Marks Actual Quantity -AQActual Quantity -AQStandard Quantity - SQ Actual Rate -ARStandard Rate -SRStandard Rate - SR TotalTotalTotal3 Price Variance$ - 0U or F?Quantity Variance U or F?2 Total Variance$ - 0U or F?1 Direct Materials - Residential Actual Quantity -AQActual Quantity -AQStandard Quantity - SQ Actual Rate -ARStandard Rate -SRStandard Rate - SR TotalTotalTotal3 Price VarianceU or F?Quantity Variance U or F?2 Total VarianceU or F?1 Total 12- In these cells identify whether the variance is favourable "F" or unfavourable "U" Labour variances Labour - Commercial Marks Student Mark Actual Hours - AHActual Hours - AHStandard Hours - SH Actual Rate -ARStandard Rate -SRStandard Rate - SR TotalTotalTotal3 Rate VarianceU or F?Efficiency Variance U or F?2 Total VarianceU or F?1 Labour - Residential Actual Hours - AHActual Hours - AHStandard Hours - SH Actual Rate -ARStandard Rate -SRStandard Rate - SR TotalTotalTotal3 Rate VarianceU or F?Efficiency Variance U or F?2 Total VarianceU or F? 1 Total 12- Input Database Parameters - budgetParameters - actual QuartersQuarters 1234Year1234Year Sales ( hours):Sales ( hours):Quarter over quarter change>>> Budgeted total sales in hoursActual total sales Budgeted commercial sales in hoursActual sales - commercial Budgeted residential sales in hoursActual sales - residential Selling rate( $/hr):Selling rate ( $/hr): Selling price per hour (commercial)Actual selling price - commercial Selling price per hour (residential)Actual sellling price - residential Direct labour expense ( $/hr):Direct labour expense ( $/hr): Cleaning Supply usage ( litre / labour hour):Actual Cleaning Supply usage ( litre / labour hour): Commercial Commercial Residential Residential Cleaning Supply expense ( $/litre)):Actual Cleaning Supply expense ( $/litre)): Fixed overhead:Actual Fixed overhead: Unproductive ( unbilled ) factor Total no. of hours actually paid to employees Breakdown: Complete the appropriateCommercial account names for theResidential fixed overhead items andActual hours worked all the locations that need these account names will self-populateDirect labour cost for you. Rubric Tab title Marks allocated Student marksRubric for 'Memo to CEO'Student Marks Marks >>3210 Static Budget80 Administrator: Administrator: These are linked to previous spreadsheet totalsWord limit maintained - 500 words and memo formatWithin 500500-510510-520520 plus Actual Budget80Arial or Calibri with 12 point and double spaceAll three followedTwo followedOne followedNone Flexible budget 80Explanation quality as it relates to: Variance Analysis - Static and Flex140Role of cleaning staff in budget preparationExcellentGoodAcceptable Poor Material variances120Role of procurement staff in budget preparationExcellentGoodAcceptable Poor Labour variances120Role of supervisory staff in budget preparationExcellentGoodAcceptable Poor Memo to CEO260Role of middle management in budget preparationExcellentGoodAcceptable Poor Subtotal 880Role of top management in budget preparationExcellentGoodAcceptable Poor Worksheet data quality: no plugged values, use of IF statements and cell references12Role of training manager in budget preparation ExcellentGoodAcceptable Poor Total 1000Bonus Total 0