. Slip Heel Ltd manufactures two types of shoes in its factory. A typical monthly budget is as follows: Shoe Type I Shoe Type II Monthly output 5,040 units 10,560 units Time per unit 24
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
11. Slip Heel Ltd manufactures two types of shoes in its factory.
A typical monthly budget is as follows:
Shoe Type I Shoe Type II
Monthly output 5,040 units 10,560 units
Time per unit 24 minutes 36 minutes
Unavoidable non-productive time is 25% of productive time and is paid £9 per
hour.
Operatives are paid £8 per unit of shoe type I produced and £14 per unit of shoe
type II.
What would be the monthly cost of operatives’ wages in the factory?
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