Ice Cream Essay

1323 words - 5 pages

Midwest Ice Cream EXECUTIVE SUMMARY It is recommended that Jim Peterson use the following outline for the presentation to the board of directors at Midwest Ice Cream Company. Outline for Presentation · Introduction · Identify the problem · Analyse Figure 1 and Illustrations 1 - 3 · Commend the areas that did well · Discuss the corrective actions to consider · Make recommendations · Conclude the presentation The following case study provides Jim Peterson with all the necessary information to make a non-technical presentation to the board of directors. INTRODUCTION Budgeting is a vital element of the management planning and control process. Budgeting is the process that translates corporate intentions into specific tasks, and identifies the resources needed by each manager to carry them out. In the process, budgeting enhances communication and co-ordination of different administrative units, facilitates decision-making, and provides a framework for monitoring and for performance evaluation. All managers are responsible for preparing a budget. Since specific departments play important roles in improving various components of the balance sheet and the income statement, it is critical that they prepare their budgets in a responsible way. Once budgets are in place it is necessary to analyse the difference between the actual and budgeted costs (variance). A variance analysis involves the decomposition of the variance into the individual factors that caused the variance. Managers need to be able to understand how to break down and analysis the variances; this helps them determine the proper corrective action. PROBLEM The Midwest Ice Cream Company is doing many things wrong, and the mistakes they are making are being covered up by a poorly planned budget. ANALYSIS The overall variance at Midwest Ice Cream is $71,700F . This is considered a good variance because it means they made more money than their original budgeted figure. However, the breakdown of this variance shows quite a different picture, it seems that Midwest under-budgeted their sales forecast by 248,037 gallons of ice cream or $117,700F. This figure was slightly offset by the $(58,000)U operating variance which brings the total number to $71,700F. When looking at variances it is possible to break them down into their specific areas. In the analysis of the Midwest Ice Cream Company the variances can be broken into three broad areas Sales, Operations and Sales Price/Operations. The following variance analysis lets managers understand why the variances occurred. Sales - Refer to Appendix A The overall sales variance is $117,700 this number on its own can be misleading that is why it is necessary to break it down into the specific areas. The sales variance can be dissected into three areas: industry volume, market share and sales mix. Industry Volume $167,619F Market Share $(55,259)U Sales Mix $5,339F Total $117,700F Now that the specific variances...

Find Another Essay On Ice Cream

Wallace Stevens's The Emperor of Ice-Cream

955 words - 4 pages Wallace Stevens's "The Emperor of Ice-Cream" "The only emperor is the emperor of ice-cream," Wallace Steven's writes in his poem "The Emperor of Ice-Cream" (8). This line proclaiming the ice-cream maker as important as an emperor is used metaphorically to describe the selfishness of human nature. One the surface, the poem is about the wake of a poor, old woman. However, if the metaphors and symbols of the poem are examined, the poem's deeper

Chattanooga Ice Cream Division Questions and Answers

634 words - 3 pages a) What is your assessment of the effectiveness of the management team at Chattanooga Ice Cream? List specific examples needed to support your assessment. The drastic changes that were occurring at this division have everyone confused and uncertain of their future. They do not want to be involved in any decisions regarding the company, due to they never had before. This has affected their effectiveness for the whole as a team. EX: When asked

Experiment: Does salt assist the restoration of melted ice cream?

926 words - 4 pages INTRODUCTION:It is said that ice-cream will freeze faster if there is the assistance of some salt, whilst rolling the ice cream along with some ice. This experiment is to test if this statement is true or false.If this is true it could help the 'general public', especially ice cream retailers who continually need they're ice cream frozen completely. Hypothetically speaking, if someone wanted they're ice cream restored back to its normal state

New ice-cream product project in UK market

2024 words - 8 pages ; Crown copyright material is reproduced with the permission of the Controller of HMSO (and the Queen's Printer for Scotland) 1.2 Ice Cream Market Analysis The ice cream market has been experiencing sales growth roughly in line with that of the food market as a whole in recent years. Since 1999, the ice cream market has continued growing. The background of increased spending on food products in general has created favorable conditions to push

Company Motivational Profile Paper and Presentation - Ben/Jerry's Ice Cream

2991 words - 12 pages Company Motivational Profile PAGE \* MERGEFORMAT 4 Company Motivational Profile Paper and PresentationPSY/320Company Motivational Profile PaperIn 1977, Ben Cohen and Jerry Greenfield moved to Burlington, Vermont to complete a written communication course in ice cream. By May 1978, the two friends opened an ice cream shop in Burlington, Vermont. This was the starting-point for Ben and Jerry's. By 1980, Ben and Jerry started selling ice cream to

Poetry Explication for "The Emperor of Ice Cream"

744 words - 3 pages Wallace Steven's, "The Emperor of Ice Cream" uses carefree, silly sounding language to keep the reader's attention in order to prove his point that life is short and as humans we need to enjoy every moment we can and not worry about how we look. This free-verse poem elucidates this point through comparing life to death all in the same setting and time period. The poem begins, "Call the roller of big cigars,/ The muscular one, and bid him

The Market for Ice Cream in America Creamy Opportunities for a Chilly Market

3306 words - 13 pages Executive SummaryThe ice cream market in the United States is continuously expanding and changing. The magnitude of ice cream marketers varies tremendously, ranging from the small family-owned ice cream parlors to the large manufacturers of ice cream that is sold in grocery stores. Despite the variance of distribution methods and business types, a primary reality of importance remains the same: ice cream is a popular treat among most Americans

Description of Nestlé (Thai) School Channel in Ice-Cream Business Unit and Current CRM Complication

1680 words - 7 pages 2. Issue research & analysis 2a. Objectives To find a strategic technique to win over prospective customers and retain current customers through school’s decision making units in order to increase overall sales revenues. 2b. Literature Research Most of the data needed for research objectives are about Nestlé (Thai) ice-cream business unit, which are neither available in textbooks nor websites. Therefore, the data for primary

Beauty Queens Don't Eat Ice Cream: Conceptions of Beauty in "Little Miss Sunshine"

2301 words - 9 pages . This mindset extends into his treatment of Olive in the scene that takes place in a diner. After she orders waffles “alamodey” (à la mode), Richard starts to lecture Olive about the effect eating ice cream will have on her chances in the beauty pageant. He tells her that the fat in the ice cream becomes fat in her body and will make her fat. Sarah Banet-Weiser writes about a similar occurrence in the following quote from a pageant contestant

Nestle's International Strategy

3895 words - 16 pages Introduction Every corporate story has its own character... In the case of Nestlé's ice cream market endeavors, it is the present CEO of Nestlé Group - Mr. Peter Brabeck-Letmathe. Back in 1991, when he was the Head of the ice cream / confectionery business, the company had its ice cream operations in just ten countries around the world. Mr. Brabeck faced a strategic dilemma: to build a solid presence in this sector or to make a

Ice - Fili Case study

610 words - 2 pages Ice-FiliIce-Fili has had one of the greatest influences on the Russian ice-cream market and success in the past by surviving through the absolutely toughest times. For a company to go through the transformation of the Russian closed economy to an open economy that encouraged free enterprise and competition through privatization is incredible. Being able to go through that but also a financial crisis in 1998, which collapsed two-thirds of their

Similar Essays

Ice Cream Industry Aust Essay

6080 words - 24 pages 1. EXECUTIVE SUMMARY The following report is mainly based on the ice cream industry's manufacturing output and refers to ice cream mixes, soft serve mixes and ice confection, produced and sold to the domestic and export market.The industry is generally growing slower than the economy so its life cycle is in a decline phase, but has been stable for the past 5 years and is forecast to grow inline with the economy. Over the past 5 years

Ben & Jerry's Ice Cream Essay

2362 words - 9 pages BEN & JERRY'S ICE CREAMBen and Jerry's Ice Cream was founded by Ben Cohen and Jerry Greenfield two New Yorkers who had known each other since 7th Grade in Merrick, Long Island, New York, in 1963. In 1977 they moved to Vermont and completed a correspondence course Agriculture 5150 on making ice cream at Pennsylvania State University. Next year, they took their life savings and borrowed $4,000 to complete the $12,000 needed to set up an ice

Great Minds And Ice Cream Essay

839 words - 3 pages A wise man once said, “Great minds think alike,” and before I could read literature, I believed him. I believed that to be one of those great minds, I had to be just like everyone else. The way I spoke, the way I dressed, and even the kind of ice cream I ordered had to be the same as my best friend, but as I grew older, I realized that it is our differences that set us apart from each other. Our differences make us not just unique, but

We All Scream For Ice Cream

923 words - 4 pages We All Scream For Ice Cream Who in their right mind could say no to the irresistible taste of ice cream? Being one of my most favorite snacks, I will admit that a carton of ice cream never stays in the fridge for more than a week. I can remember always having ice cream as a very special treat when I was younger, mostly chocolate and vanilla. Nowadays there are so many flavors of ice cream from simple chocolate to cola flavored. Ice