Your first job assignment requires you to create a master budget.

 Your first job assignment requires you to create a master budget. The details are

presented below.

Background

Apple Inc. manufacturers I-phones. You have been hired as a cost accountant and your

assignment to create a master budget using EXCEL.. You have been working with various

departments to gather financial data to assemble a master budget. One reason you have

chosen this format is that upper management will probably make some last-minute changes

to sales and possible changes to some other cost forecasts. So, to simplify this problem you

MUST link all the budgets together. For example, if you change the sales forecast, then all

the remaining numbers in all other budgets would change without having to change numbers

manually in each budget.

One quarter of the budget has been prepared for you but you need to input the other three

quarters in order to prepare the income statement.

Here are the steps:

1. You must setup all eight budgets using Excel. Starting with the sales budget, manually

calculate the sales budget forecast for all four quarters and calculate the total column

2.  Each budget should be prepared on individual Excel spreadsheets, on separate tabs.

3.  Each budget should professionally represent all the budget information; must be easy

to understand so it can be presented to the CEO and the owners of the business.

4. Briefly discuss your assumptions and any challenges you encountered while preparing

the budget.