Manage Their Production Effectively - Accounting and Finance Assignment Help

Assignment Task

After two years study at UCW, you finally graduate and start a job as Junior accountant at Godox Inc. Your manager is responsible for the nationwide distribution of creator design sets. Because of the new social media influence among current generation, the company has grown rapidly, and the prompt growth forces the management team to improve their efficiency and manage their production effectively. You have just been given responsibility for all planning and budgeting of the entire lighting set division. Today is your first day, you have just given an assignment to prepare master budget for the manager, who needs to present the budget and discuss the financial objectives with the shareholders tomorrow. During your job interview, you clearly stated that you gained managerial accounting knowledge and hand on experience during your MBA study. Your first assignment is to prepare a master budget for the next fiscal year, starting January 1, 2021. Your co-work has left a pile of files on your desk including the past sale records, product information, manufacture schedule and supplier pricing list. Now, you realized that you should have pay more attention during the lecture. Now, you don’t know where to start. Fortunately, you remember that you still kept a copy spreadsheet of the master budget template in your laptop from the accounting course.

Required:

Prepare a master quarterly budget for 2021.

Include the following budget schedules and financial statements:

1) Master Budget

2) Cash Budget. Show the cash budget by quarter.

3) Budgeted Income statement by quarter and in total

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