Budget for Fabrication Department Steelcase Inc. is one of the largest manufacturers of office furniture in the United States. In Grand Rapids, Michigan, it produces filing cabinets in two departme Fabrication and Assembly. Assume the following information for the Assembly Department: Direct labor per filing cabinet Supervisor salaries Depreciation Direct labor rate Prepare a flexible budget for 15,000, 19,000, and 23,000 filing cabinets for the month of August, similar to Exhibit 5, assuming that inventories are not significant. all amounts as positive numbers. 30 minutes $117,000 per month $31,000 per month $15 per hour Steelcase Inc. - Assembly Department Month Ending August 31 (Assumed Data) Units of production Variable cost: Direct labor -✓ 15,000 19,000 23,000
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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