Prepare A Budgeted Balance Sheet for Sweats Galore
Order ID:89JHGSJE83839 Style:APA/MLA/Harvard/Chicago Pages:5-10 Instructions:
Prepare A Budgeted Balance Sheet for Sweats Galore
12.Using the information contained in the case and the previous budgets, prepare a budgeted balance sheet for Sweats Galore, Inc. for the year ended December 31, 2013.
Cash
Accounts receivable
Sweatshirt inventory Equipment
Less: Accumulated depreciation Total assetsSweats Galore, Inc. Budgeted Balance Sheet December 31, 2013
Assets
Quarter 1234
CA-26SWEATScase 6Cases for Management Decision-Making GALORE
Liabilities and Stockholders’ Equity
Accounts payable
Notes payable
Interest payable
Taxes payable
Total liabilities
Common stock
Retained earnings
Total stockholders’ equity
Total liabilities and stockholders’ equity
- (a) Using the information contained in the case and the previous budgets, calculate the estimated contribution margin per unit for 2013.(Hint: Silk- screened labor and the taxes are both fixed costs.)
(b) Calculate the total estimated fixed costs for 2013 (including interest and taxes). (c) Compute the break-even point in units and dollars for 2013.
- (a) Michael is very disappointed that the company did not have an income of $25,000 for its first year of budgeted operations as he had wanted. How many shirts would the company have had to sell in order to have had a profit of $25,000? (Ignore changes in income tax expense.)
(b) Why dots the company’s net income differ from its ending cash balance?
- Do you think it was a good idea to offer Cary Sue a salary plus10%of sales? Why or why not?
RUBRIC
Excellent Quality
95-100%
Introduction 45-41 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Literature Support
91-84 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Methodology
58-53 points
Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met.
Average Score
50-85%
40-38 points
More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided.
83-76 points
Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration.
52-49 points
Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met.
Poor Quality
0-45%
37-1 points
The background and/or significance are missing. No search history information is provided.
75-1 points
Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration.
48-1 points
There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met
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