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Homemade Muesli Bar budget Anna has a small business making homemade organic muesli bars which she delivers to local offices for their staff

Homemade Muesli Bar budget

Anna has a small business making homemade organic muesli bars which she delivers to local offices for their staff.
She also sells them to local health food stores, cafes and delicatessens – as well as to a local school for their staff room.
The muesli bars are healthy and nutritious and are packed with ingredients that slowly release energy throughout the day – meaning that customers are kept energetic and feeling lively even into the late afternoon.
She has a variety of flavours, and makes homemade fruit cookies, savoury breakfast muffins and nut and berry ‘Energy Balls.’
The local businesses review her WordPress website each week and phone her to place orders for the bars that they would like for the following week.
She sells the muesli bars in boxes of 20. She orders her supplies in bulk from a national health food supplier.
The supplier requires that she pays for the order upfront. Her customers pay her invoice within 30 days of their muesli bars being delivered.
She usually makes the muesli bars to order, as some ingredients are perishable. For this reason, she is usually not left with stock – however some varieties of muesli bar are more popular than others and customers do not often order her Apricot and Cashew bars.
She has been left with several units of dried apricots and raw cashews which have then gone bad as they have been unused.

Anna is planning the budget for the next financial year, for her small business Homemade Muesli Bars. There are key areas that she wants to focus on, as she is planning to expand her business.
Last year, she spent $12,000 on supplies and ingredients. She wishes to produce 50% more products this year.
Her rent was $35,000 for last year and will remain the same this year.
Last year she spent $2,000 on packaging. This will rise according to the extra stock she wants to produce this year.
Last year she paid herself $25,000, and she would like to increase that amount this year as much as she can.
She has $100,000 budget for the year.
Anna’s Budget for Financial Year 2015 – Research Paper Writing Help Service

Hiring a marketing agency to promote and advertise her business:
Salary for a new staff member in Production to help her produce more muesli bars:
Supplies and ingredients:
Rent:
Packaging:
Her own salary:

1. Explain why you have attributed each amount within the budget. For each item on the budget, you should have a valid reason as to why you have allocated this amount.

2. Name three financial statutory requirements that Anna will have to comply with in the new financial year. You can follow the given example:
Example – since Anna will be employing new staff member, she will have to pay her new employee superannuation in accordance to the Income Tax Assessment Act 1997.
You can also refer to the following link:
https://www.fairwork.gov.au/pay/tax-and-superannuation

3. Anna is conscious of adhering to her own operational requirements:

– Quality assurance
– Occupational health and safety
– Recording and filing financial information.
For each of these operational requirements, describe how Anna can ensure that her budget is aligned with them?

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