Use the video and its information providedhereand in Week 8 Instructor Insights about babycakes, a specialty bakery. Write a three to four (3-4) page paper in which you:
1. Babycakesis used as the company for all parts of the budget planning and control report. Briefly discuss each of the main reasons the owner of babycakes prepares a budget using the specific company and product details as an example. Include the possible outcomes with a good budget versus no budget.
2. Prepare a Sales Budget for the LA store for 4th quarter of 2016 for babycakes. Present each month; October, November, and December, and a total for the quarter. Use one half of the Valentine's Day (one day) of sales as the basis for a normal day. This information is in the babycakes video provided in Week 8, Include changes needed due to Halloween, Thanksgiving, and Christmas. Discuss the budget details in the report. Include the actual budget as an appendix with all data and calculations.
3. The owner of babycakes is interested in preparing a flexible budget rather than the static budget she currently uses. Explain the benefits of using a flexible budget based on the budget you prepared for the 4th quarter of 2016.
4. Imagine that babycakes is facing a financial challenge that is causing the actual amounts of money that it spends to become significantly more than its budgeted amounts. You may assume your own unique cause of the overspending. Explain the modifications and corrective actions needed to correct the challenge .
5. Use at least three (3) quality academic resources in this assignment. Note: Wikipedia and other Websites do not quality as academic resources.
Your assignment must follow these formatting requirements:
• Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; references must follow APA or school-specific format. Check with your professor for any additional instructions.
• 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 and the reference page are not included in the required page length.
• An abstract is not required.
The specific course learning outcomes associated with this assignment are:
• Evaluate management control systems and examine their relationship with accounting and planning, including feedback and non-?nancial performance measurements.
• Evaluate decision making tools for capital investments, budgeting, and budgeting controls.
• Analyze financial accounting tools and techniques that convert financial accounting data into information for decision making.
• Use technology and information resources to research issues in financial accounting for managers.
• Write clearly and concisely about financial accounting using proper writing mechanics.
Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using this rubric.