Financial & Managerial Accounting

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QUESTION
 
 
Read your textbook
Wild, J. J., & Shaw, K. W. (2019). Financial & Managerial Accounting: and other peer-reviewed publications, cite it from google scholar, need 4 references.
write 3-4 pages of high-quality well-written APA formatted standard about the following scenario.
Please keep in mind that this assignment is quantitative, therefore do not forget to use the figures and charts.
 
Built-Tight is preparing its master budget for the quarter ended September 30. Budgeted sales and cash payments for product costs for the quarter follow. ( see the form attached)
Sales are 20% cash and 80% on credit. All credit sales are collected in the month following the sale. The June 30 balance sheet includes balances of $15,000 in cash; $45,000 in accounts receivable; $4,500 in accounts payable; and a $5,000 balance in loans payable. A minimum cash balance of $15,000 is required. Loans are obtained at the end of any month when a cash shortage occurs. Interest is 1% per month based on the beginning-of-the-month loan balance and is paid at each month-end. If an excess balance of cash exists, loans are repaid at the end of the month. Operating expenses are paid in the month incurred and consist of sales commissions (10% of sales), office salaries ($4,000 per month), and rent ($6,500 per month).
Prepare a cash budget for each of the months of July, August, and September. (Round amounts to the dollar.)
 
The learning objectives to meet in this assignment:
1 – Identify the role of managerial accounting in decision making, and the basic terms used to present useful information. Differentiate various global perspectives on the management of accounting and contrast them against US companies.
2 – Compute manufacturing costs of goods sold (cogs) and examine the decision-making process pertinent to job order costing and budgeting analysis.
3 – Perform an analysis of process costing and construct a theoretical framework that provides meaningful analysis for management.
4 – Evaluate the concept of overhead costing and conduct a meaningful analysis of its effect on managerial decisions.
5 – Analyze cost behaviors in relation to sales volume and make ethical managerial decisions that positively affect the bottom line. Recommend strategies for problem-solving related to these decisions.
6- Determine cash flow reporting to include its purpose and format as it relates to statements, operating, investing, and financial activities. Discuss the importance of financial statement analysis in reference to decision-making and audits.

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