As department manager you are responsible for developing a yearly budget. There are 10 employees in the department. Each employee makes $40,000 per year. Your salary is $55,000 per year. Utilities are estimated at $50 per employee per month. In addition you must also do the following: Find and budget for three team building activities (Not all in the same month) Budget for Green Belt training for your team – find actual cost (spread out over 2 months) Develop one Six Sigma project for the month of September Budget for training 5 employees 5 hours per month for the months on June, July and August. Training is budgeted separately and the time in training is deducted from regular pay. (rate of pay is the same) During October the warehouse will be expanded and you will have to staff it with 5 employees each making $24,000 per year. Employees will remain for the rest of the year Buy or lease two battery operated forklifts in October for the warehouse – uses real data In November you will need to reduce the inside sales staff by three
As department manager you are responsible for developing a yearly budget. There are 10 employees in the department. Each employee makes $40,000 per year. Your salary is $55,000 per year. Utilities are estimated at $50 per employee per month. In addition you must also do the following: Find and budget for three team building activities (Not all in the same month) Budget for Green Belt training for your team – find actual cost (spread out over 2 months) Develop one Six Sigma project for the month of September Budget for training 5 employees 5 hours per month for the months on June, July and August. Training is budgeted separately and the time in training is deducted from regular pay. (rate of pay is the same) During October the warehouse will be expanded and you will have to staff it with 5 employees each making $24,000 per year. Employees will remain for the rest of the year Buy or lease two battery operated forklifts in October for the warehouse – uses real data In November you will need to reduce the inside sales staff by three
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Concept explainers
Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
Topic Video
Question
As department manager you are responsible for developing a yearly budget. There are 10 employees in the department. Each employee makes $40,000 per year. Your salary is $55,000 per year. Utilities are estimated at $50 per employee per month. In addition you must also do the following:
- Find and budget for three team building activities (Not all in the same month)
- Budget for Green Belt training for your team – find actual cost (spread out over 2 months)
- Develop one Six Sigma project for the month of September Budget for training 5 employees 5 hours per month for the months on June, July and August. Training is budgeted separately and the time in training is deducted from regular pay. (rate of pay is the same)
- During October the warehouse will be expanded and you will have to staff it with 5 employees each making $24,000 per year. Employees will remain for the rest of the year
- Buy or lease two battery operated forklifts in October for the warehouse – uses real data
- In November you will need to reduce the inside sales staff by three
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Follow-up Questions
Read through expert solutions to related follow-up questions below.
Follow-up Question
In addition to putting the budget in an Excel spreadsheet; the following items are required:
-
Describe three actual team building activities- use actual costs if possible
-
Write a proposal for a Six Sigma project. Project should center around one of the following issues – low attendance, orders being entered into system incorrectly, or high turnover
-
Write an announcement explaining that three positions are being eliminated in November. Keep in mind reassuring the remaining employees that their jobs are not be effected if productivity and profits go up.
Solution
by Bartleby ExpertKnowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education