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Create product or service your choice, and discuss the vision, purpose, and goal of your activity
Understand the role of vision and strategy in creating budget
Research inquiry, Critical thinking,
Estimate standard direct material and direct labour costs for your product or service
Develop standard direct costs Research inquiry, Critical thinking, disciplinary specific knowledge
Estimate standard variable overheads and fixed overheads for producing the product or service
Develop standard overhead costs Research inquiry, Critical thinking, disciplinary specific knowledge
Prepare master budget for your 1 month of operation (including sales, costs of sales, profit and loss budgets)
Develop a master budget for a service Research inquiry, Critical thinking, disciplinary specific knowledge
Reflection on the knowledge and skills you learn from doing the assignments
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