Assignment Cover Sheet and 2020 Budget Report Analysis

SOUTHERN CROSS UNIVERSITY
ASSIGNMENT COVER SHEET
For use with online submission of assignments
Please complete all of the following details and then make this sheet the first
page of each file of your assignment – do not send it as a separate
document.
Your assignments must be submitted as either Word documents, text documents
with .rtf extension or as .pdf documents. If you wish to submit in any other file
format please discuss this with your lecturer well before the assignment submission
date.
Student Name:
Student ID No.:
Unit Name:
Unit Code:
Tutor’s name:
Assignment No.:
Assignment Title:
Due date:
Date submitted:
Declaration:
I have read and understand the Rules Relating to Awards (Rule 3
Section 18 – Academic Misconduct Including Plagiarism) as
contained in the SCU Policy Library. I understand the penalties
that apply for plagiarism and agree to be bound by these
rules. The work I am submitting electronically is entirely
my own work.
Signed:
(please type
your name)
Date:

Surf N Sea
2020 Budget Report
Date of Board
Meeting
Name of Report
Author(s)
Approved by:
Surf N Sea: 2020 Budget
Board Report
Page 2

1. Overview of Expected Results
On the basis of overall analysis over the Surf and sea company, it has been
found that the company is mainly offering four products to its customers who include
one piece swimsuit, board shorts, towels (beach) and umbrella (beach). In order to
measure the overall performance of the company, different budgets have been
prepared by the accountant such as sales budget, direct material budget, production
budget, cash purchase budget, direct material budget and various other budgets to
identify the performance of the business.
The calculations explain that the total sales generated by the company would
be $ 2363800. On the other hand, the COGS of the company are $ 1789941. It further
explains that the profit margin of the company is 14.99%. The overall profitability
position of Surf and Sea Company is quite efficient and explains that the operations of
the company would be run smoothly. The total net profit of the company is $ 354259.
Further, the cash position of the company has been determined and it has been found
that the cash position of the company would be more effective and efficient. The cash
position of the company tends to be better day by day. The expenses of the business
have been apportioned on the basis of the machine hours and direct material used in
the business. All the expenses have been allotted on such a basis that each product’s
performance could be identified perfectly.
Income statement of the business has also been prepared to measure the
performance of the business and reach over a conclusion about the efficiency of the
business. On the basis of the study, it has been measured that the highest expense of
the business is insurance which have lowered the net profit of the business a lot.
Overall, the performance of the business would be quote better in the near future.
2. Product Analysis
After the evaluation over the overall profit and performance of the company,
performance of each product of the business has been studied to measure the
performance of each product and identify the most profitable and worst product of the
business in terms of profit making. Below is the table which describes about the
performance of each of the product of the business:
Particulars One-piece
Board
Shorts Towels
Beach
Umbrellas
Sales $ $ $ $
Surf N Sea: 2020 Budget
Board Report
Page 3