At the beginning of the period, the Cutting Department budgeted direct labor of $135,000, direct materials of $153,000 and fixed factory overhead of $11,100 for 7,700 hours of production. The department actually completed 10,200 hours of production. What is the appropriate total budget for the department, assuming it uses flexible budgeting? Round hourly rates to two decimal places. Round interim calculations to two decimal places. Round your final answer to the nearest dollar. a. $302,704 b. $392,580 c. $299,100 d. $396,210
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.
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