Given a set of data, be able to calculate a sales forecast for the next 2-3 time periods using
Given a sales forecast, be able to compute a Sales Budget including expected cash collections for the forecast period.
Given a sales forecast, and a desired ending inventory policy, be able to compute the production budget.
Given a production budget, be able to compute a Materials Budget and / or a Direct Labor Budget.
Given budgeted and actual revenues and expenses, calculate budget variances and be able to comment on the operational health of the plant.
Given a set of factory overhead and direct labor hours, be able to use
regression or the high / low method to calculate the fixed and variable factory
Given material purchases, direct labor hours utilized, and overhead rates be able to prepare a job costing budget.
Given material purchases, factory overhead, and conversion factors, be able to prepare a process costing budget.