Below in the first table, required level of competencies and performance evaluations are given. If you are asked to prepare training budget, what would be the minimum budget to give all required trainings?

Q: what are the first two steps of a master budget? and are there formulas that are used for those…

A: The first two steps of a master budget are as follows: 1) Preparation of sales budget. A sales…

Q: Before a direct materials purchases budget can be prepared, you should firsta. prepare a sales…

A: The budgets are prepared to estimate the number of units to be sold, number of units to be produced…

Q: Master budget is compiled of several operating budgets. Of these operating budgets, which budget…

A: the operating budget is such a statement that present the financial plan for each of the…

Q: Your supervisor asks you to produce a budget variance report. Using the most common definition of…

A: Budget variance report is an important management tool to manage the performance of the business…

Q: List the three key benefits companies get from preparing a budget. The budget allows managers to be…

A: An estimate of income and expenditure for a set period of time is called budget.

Q: Why would management take extra effort to ensure approximate budgets for direct labor, direct…

A: There are a few reasons why management might take extra effort to ensure approximate budgets for…

Q: hat will be your first step to generating a busine

A: Budget is very important in the business and preparing the budget is the important step in the…

Q: What is microcosting, and what two types of expenses do you have to consider when doing a budget.…

A: To help medical and strategic decision address worries about increasing healthcare costs, creating…

Q: ates are determined by iding the cost budgeted for each activity pool by t e for that pool iding the…

A: Activity rate is used in activity based costing. Activity rate is then multiplied into usage to…

Q: Of the following budgets.

A: Budget-:Budgets are an assessment of income and expenses made at the end of the accounting to…

Q: For this assignment you are to assume that you are involved in the preparation of your company's…

A: The issue is that the sales team is provided that the expected sales for the year and also there…

Q: Briefly describe the components of a master budget for a manufacturing organization.

A: Answer:-  Master budget meaning:- A master budget is thorough financial planning document that…

Q: Which type of budget is the forecasting of how much should be spent on large items such as…

A: A budget  is the  estimate  made over a future  selected period of time

Q: How do I do a master budget? what are the steps and formulas i will need?

A: Budget: Budget is an effective tool to achieve the financial and operational goals of the business.…

Q: The direct labor budget and the manufacturing overhead budget are prepared directly from the a.…

A: Budgets are the forecasts or estimates to be made for future period of time. These are the…

Q: Which of the following budgets for a manufacturing firm indicates the quantity ( and costs ) of raw…

A: The objective of the question is to identify the type of budget that is used by a manufacturing firm…

Q: A company is planning to prepare Budget for the year 2022. In the budgeting and planning process,…

A: The strategic plan is the planning report that specifies the organizational goal, the procedure of…

Q: Using the same above information, what woult it look like to complete the following?  Direct labor…

A:

Q: Activity-based budgeting is a system that recorded and analyses activities that lead to costs of the…

A: Activity based costing is that costing method in which we record those activities that incur cost.…

Q: State the equation for computing the total budgeted costs for the ironing department.

A: Total costs is the combination of fixed costs and variable costs. The equation for computing the…

Q: What is the process for developing a budgeted balance sheet?

A: The budgeted balance sheet is a report that a firm uses to examine the estimation of assets,…

Q: For a manufacturing business, a production budget, including budgets for direct material, direct…

A: Budget is the term which is defined as the estimation of revenues as well as expenses over the…

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.