Business plan: Product Budgeting Project - Essay Example

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Business plan: Product Budgeting Project

Some of the assumptions taken to complete the product budgeting practice are stipulated below. Assumptions 1. The product is made up of the two raw materials named Beflow and Affton. 2. Two kinds of labour are used in the production process of the product, which are skilled and non-skilled labour. 3. For capital expenditure, since this is the first year of operations, therefore, the organization has planned to invest only in the furniture and equipments. The requirement for having a factory is fulfilled by arranging a facility on rent. 4. Selling price of the product is set as ?130 and ?140 for the first and last six months of the first year. 5. It is assumed that prices of raw materials and labour costs will remain steady and stable throughout the year. 6. Overheads are estimated to be 75% of the direct labour cost. 7. Closing stock is assumed to be around at least 15% of the next month’s sales volume. 8. 65% of the sales are expected to be received in the month of sales whereas the remainder amount is assumed to be received in the next month of sales. 9. ...Show more

Summary

Product Budgeting Project Introduction This business plan highlights various aspects of product budgeting of an industrial product named as “Highnoon”. “Highnoon” is a product being manufactured and sold by the organization under progress; its future growth and estimates are analyzed regarding the budgeting aspects…
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