Your responsibility is to prepare two flexible budgets. The first flexible budget is based on prior year actual data. The only change is sales projections equal to 3,500 annual unit sales.
The second flexible budget is based on your sales projection and includes several changes to the data. The changes are listed in the Excel file / Instructions Tab.
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In order to minimize errors, improve accuracy and increase efficiencies use formulas in all cells. If you need assistance with Excel review the week one Excel activity. Included therein are three posts that reference links to tutorials. The posts are titled “Excel”, “Formula Overview” and “Excel Videos”. I prefer the formula overview and excel video links. The tutorials will help you with basic formulas and spreadsheet format.
In order to gain experience and insight please review the following video. It is a simple presentation and will help everyone develop a basic understanding of flexible budgets. The video was created by a third party. There are additional videos included with the Bing search as well.