Assume that Samsung’s consumer electronics division is charged with preparing a

Question

Assume that Samsung’s consumer electronics division is charged with preparing a master budget. Identify the participants- for example, the sales manager for the sales budget- and describe the information each person provides in preparing the master budget. Assume that Samsung’s consumer electronics division is charged with preparing a master budget. Identify the participants- for example, the sales manager for the sales budget- and describe the information each person provides in preparing the master budget.

Explanation / Answer

Solution:

When the preparation of master budget for Samsung’s consumer electronics division, the following participants will provide the information listed below:

1. Trading Manager: Provides statistics related information like quantity or units and amount of calculated orders.

2. Purchase Manager: Provides the Information about orders placed for required direct and indirect materials needed in production process.

3. Production Manager: Will Provides the information like Quantity of direct materials, direct labor, and manufacturing overhead for calculated orders.

4. Sales Manager: Sales manager will have the information regarding general and administrative involved in offering the determined deals.

5. Board of Directors: Inform regarding accessible sources for capital seeding and also plans regarding allocation of capital to various functions of business.

6. Finance Manager: Will Calculated assessment of Income and maintenance of books of accounts.

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