Planning, Budgeting, and Financing

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Beta College is a small residential liberal arts college in Boston that enrolls approximately 500 new and transfer students per year. The total student enrollment is 2000. All first year students are required to live on campus their first year. You were hired at Beta College as the Assistant Director for Student Activities.

The Director of Student Life, to whom you report, asked you to lead the planning of the Annual Spring Fling, an event mostly attended by first year students. The Spring Fling is being held about 10 miles away from campus at the local park, and traditionally involves food, carnival activities, prizes, music, etc. There is no cost associated with booking the park, per an agreement with the city and the College.

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Your supervisor has given you a budget of $10,000 but stressed the importance of saving as much as you can, so additional funds can be allocated elsewhere later in the academic semester. Students should not be charged to attend the program, but items can be sold there. Your supervisor would like for you to prepare a program budget to justify the costs associated with planning and implementing the Spring Fling, to which you will present at the next staff meeting.

Please include a table with your submission that outlines expenses and any revenue from the program.

For this assignment, please include the following in APA:

1. Title/Cover page

2. Project Summary (1-3 pages)- Include event details, budget, sponsors?, goals, table outlined for reader.

3. Table outlining expenses and any revenues from event.

4. References

If possible, include the following references:

Barr, M. J., & McClellan, G. S. (2018). Budgets and financial management in higher education. San Francisco, CA: Jossey-Bass. ISBN: 9781119287735 Goldstein, L. (2012). A guide to college & university budgeting: Foundations for institutional effectiveness (4th ed.). Washington, DC: NationalAssociation of College and University Business Officers. ISBN: 978-1-56972-007-3

What are factory overhead expenses

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  1. What are factory overhead expenses, and what distinguishes them from other manufacturing costs? What other terms are used to describe factory overhead expenses
  2. What are three categories of factory over- head expenses? Give examples of each.
  3. What are the distinguishing characteristics of variable, fixed, and semivariable factory overhead costs?
  4. When a product’s cost is composed of fixed and variable costs, what effect does the increase or decrease in production have on per unit cost?
  5. What effect does a change in volume have on total variable, fixed, and semivariable costs?
  6. Distinguish between a step-variable cost and a step-fixed cost
  7. What are the advantages and disadvantages of the scattergraph method as com- pared to the high-low method?
  8. Differentiate between an independent variable and a dependent variable and give an example of each
  9. What are two types of departments found in a factory? What is the function or purpose of each?
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  12. What are the shortcomings of waiting until the actual factory overhead expenses are known before recording such costs on the job cost sheets?
  13. What are the two types of budget data needed to compute predetermined over- head rates?
  14. What are three methods traditionally used for applying factory overhead to jobs? Dis- cuss the allocation base used in each method
  15. How does activity-based costing differ from traditional methods of applying over- head to products?
  16. What steps must a company take to successfully employ activity-based costing?
  17. What is the relationship between activity- based costing and activity-based management?
  18. What are the classifications of cost commonly used in activity-based costing? Give examples of each.
  19. If the factory overhead control account has a debit balance of $1,000 at the end of the first month of the fiscal year, has the over- head been under- or overapplied for the month? What are some probable causes for the debit balance?
  20. If the factory overhead control account has a credit balance of $2,000 at the end of the first month of the fiscal year, has the overhead been under- or overapplied for the month? What are some probable causes for the credit balance?
  21. What are two ways that an under- or over- applied factory overhead balance can be dis- posed of at the end of a fiscal period? How can one decide which method to choose?

Compose a budget proposal

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Project 2, GUIDELINES ATTACHMENT BELOW

Primary care office/clinic budget, group of up to 5 people. Budget Scenario:You are managing an office that has at least 150 pts visits a day,  one physician is to see on average 4-5 pts per hour, and one NP is too see about 3-4 pts per hour.  Compose a budget proposal that will include personnel and supply cost. Personnel budget includes NPs, CMAs, office manager, secretaries needed in this office, use FTE as the work load distribution. It is recommended that you interview an office manager to get more information.   Please refer to syllabus for more details. If doing a group project, only one group member can submit the assignment with all group member listed in cover page.

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