START-UP BUDGETING Student’s name Professor’s name Course title Date Type of manufacturing company The type of manufacturing company will be shoe manufacturing company. We will be making different kinds of shoes including official casual boots slippers and sandals. We will be purchasing various raw materials design and assemble them into the different types of shoes. For it to be a success we will take budgeting seriously. -2540033147000Value chain 5422900266700455295097155Distribution & sales market 0Distribution & sales market 561022530480Retail and consumption 00Retail and consumption 43084752095502965450200025329882545720Transportation 00Transportation 215582545720Packaging 0Packaging 181292516002096519926670Production 0Production 784225140970Production Inputs The first component of our value chain will be getting production inputs including leather soles and threads among others depending on the type of shoe. These inputs will be gotten from the individual companies that manufacture them as end products so as to act as raw materials for our manufacturing process. We will purchase the inputs in large scale. quotations invoices receipts; sales order and so on are documented. The other challenge is difficulties in measurements. It is very easy theoretically but very difficult when it comes to measuring costs associated with the various jobs. Overheads in job cost system are based on estimates. When a job is in the early stages overheads are not accurately known. To make estimates professionals are used and the data they give is not 100% reliable. Overheads incurred in the past cannot be used to measure future overheads as prices keep on changing due to inflation and deflation. Reference Hilton R. W. & Platt D.E. (2017). Managerial accounting: creating value in the dynamic business environment. McGraw-Hill Education. Martel A. & Klibi W. (2016). Designing Multinational Supply chain Networks. Designing value-creating supply chain networks 331-369. Doi:10.1007/978-3-319-28146-9_9. McClellan G.S. & Barr M.J. (2013). Budgets and financial management in higher education. San Francisco Calif: Jossey-Bass. [...]
For this assignment, you will decide what type of budget to implement for a start-up company. Write a three to four (3-4) page paper in which you: Summarize the type of manufacturing company you plan to start up and determine how you will design the value chain for your manufacturing company. Describe the type of budget you plan to implement in your company, and outline the budgeting review steps necessary to ensure that your company reaches the financial forecast. Select at least four (4) specific benchmarks you will utilize in your company. Explain the benchmarks selected and their benefit(s) to your company. Explain the type of cost system you plan to implement in your company, and identify any major challenge(s) in implementing your cost system. Suggest a way to overcome the identified challenge(s). Integrate at least one (1) quality resource using in-text citations and a reference page in your assignment. Note: Wikipedia, Investopedia, and similar Websites do not qualify as quality resources. Format your assignment according to the following formatting requirements: Typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides. Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page is not included in the required page length. Include a reference page. Citations and references must follow APA format. The reference page is not included in the required page length.