The Redmond Management Association’s Public Relations Luncheon

 

For this assignment, refer to the attached scenario “Performance Evaluation,“ This scenario puts you in charge of preparing a budget for the Redmond Management Association annual public relations luncheon.

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Read the scenario and complete the activity below.

Use Excel—showing all work and formulas—to complete the following:

  • Prepare a flexible budget.
  • Compute the sales volume variance and the variable cost volume variances based on a comparison between the master budget and the flexible budget.
  • Compute flexible budget variances by comparing the flexible budget with the actual results.

Create a 6- to 8-slide presentation for the budget committee meeting. Complete the following in your presentation:

  • Summarize the results of the sales volume and variable cost volume variances computations based on the comparison between the master budget and the flexible budget.
  • Summarize the results of the flexible budget variances computations based on the comparison between the flexible budget and the actual results.
  • Justify the favorable or unfavorable budget variances.
  • Since this is a not-for-profit organization, address why anyone should be concerned with meeting the budget.
  • Make recommendations for what can be done differently to stay on budget for future luncheons. Provide specific examples to support your recommendations.

Cite references to support your assignment.

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