At the beginning of the period, the Cutting Department budgeted direct labor of $54,900 and supervisor salaries of $32,380 for 3,050 hours of production. The department actually completed 3,300 hours of production. Determine the budget for the department assuming that it uses flexible budgeting
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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