BUDGETING ASSIGNMENT GUIDANCE 1. business type that makes a product that uses Labour & amp;amp; Materials-a factory producing chopsticks. 2. Write brief synopsis of key issues about the business (1,000 words maximum) 3. State ALL of your assumptions in tabular form (to link to individual budgets) 4. Do Contribution Statement building in assumptions on Price & amp;amp; Product Costs 5. Consider ALL likely Overhead expenses (these are Fixed Costs) 6. In Microsoft Excel Calculate Break-Even & amp;amp; Margin of Safety (using 4. & amp;amp; 5.) Is it realistic?? 7. In Microsoft Excel Set Payment terms for Customers (will affect your Cash Budget & amp;amp; Debtors) 8. In Microsoft Excel Decide on Closing Stock needed to meet unexpected demand/seasonal factors 9. In Microsoft Excel Consider Growth rate in Sales over the 12 month period. Be realistic!! 10. In Microsoft Excel Do Production, Material Purchases & amp;amp; Labour Budgets based on assumptions 11.In Microsoft Excel List the Fixed Assets you will need, Cost, Source, Useful Life & amp;amp; Depreciation 12. In Microsoft Excel Set Payment terms for suppliers (will affect your Cash Budget & amp;amp; Creditors) 13. In Microsoft Excel Do 12m Cash Budget (Receipts = Sales, Payments = Overheads, Fixed assets) Finance reasonable negative c/f, calculate Interest (a Cashflow & amp;amp; Overhead) 14. In Microsoft Excel Do P & amp;amp;L, tying in Sales, Cost of Sales, Closing Stock, Expenses 15. In Microsoft Excel Do Balance Sheet, tying in Bal c/f to Bank, Cl. Stock, Debtors & amp;amp; Creditors