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BSBFIM501 - 2019

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ASSESSMENT TASK 1 1. Introduction about the Big Red Bicycle Pyt. Ltd. About the company trading as Big Red Bicycle Pty Ltd is a manufacturing company that produces bicycles and sells them along wit... h parts to several retailers across Australia. The company's board of directors is aiming to achieve a net income before tax of $1,000,000 in the upcoming financial year. This report would conducted to seek for skills in order to determine decision making with the master budget and cost center. In this budgets will be review, to determine its accuracy and if its goals are achievable in the required term. 2. Prepare to meet with your manager (assessor) to clarify budget and negotiate changes: I. Identify areas of the budget that are not achievable, inaccurate or unclear First: The Master Budget reflected a 2% which is lower than current figure. Second: The Cost Centre Budgets apportion the overheads equally among the three centers need to be adjusted II. Prepare to negotiate necessary changes to the budget Budget for each centers need to reconsider on cost and maintenance. As each of the needs for products, services need to be monitor. Allocate resource against budget for each quarter showed that center A as Q2 indicated too much expenses compare to other III. Set up a time with your manager to meet. Dear Sam, On behalf of the team, I'm writing to you in regards to the Master Budget and Cost Centre Budgets for centre A. We have been analyzed thoroughly analyzing from the report the budgets I have identified a couple of issues that need to be clarified state below • The Master Budget reflected a 2% in commission sales, when it should be 2.5% show as inaccurate for commission calculation. • The Cost Centre Budgets apportion the overheads equally among the three centers. Kindly send the team invitation that you available so this can be fully clarify. I'm looking forward to hearing back from you. Best regards, Rakthai Manager of Sales Centre A 3. Meet with your manager (assessor) to clarify budget and negotiate changes: I. Identify at least two issues for clarification. First issue: Refer to estimated sale for Q2 the figure and inaccurate which is state as $1,000,000 Second issue: The negotiation should put down 2.5% to the figure reflects of 2% so it does lead to miscalculating II. Negotiate at least two changes  Negotiate for fair sales expense budget for center A  Cost Centre Budget need to contribute more sales Cost centre Budget A FY Q1 Q2 Q3 Q4 REVENUE Commissions (2.5% sales) 77,500 17,500 25,000 17,500 17,500 Direct wages fixed 200,000 50,000 50,000 50,000 50,000 Sales 3,100,00 0 700,00 0 1,000,00 0 700,00 0 700,00 0 Cost of Goods Sold 40 [Show More]

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