by Did hers refurbished. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results of operations for March Fixed Element per Month $ 42,700 $ 37,900 When the company prepared its planning budget at the beginning of March, it assumed that 35 containers would have been refurbished. However, 32 containers were actually refurbished during March The spending variance for "Other expenses" for March would have been closest to Revenue Employee salaries and wages Refurbishing materials Other expenses Multiple Choice $500 F $3,000 F Variable Element per Container Refurbished $4,000 $1,000 $ 600 1500 Actual Total: for March $ 130,000 $ 75,600 $ 18,800 $ 38,400
by Did hers refurbished. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results of operations for March Fixed Element per Month $ 42,700 $ 37,900 When the company prepared its planning budget at the beginning of March, it assumed that 35 containers would have been refurbished. However, 32 containers were actually refurbished during March The spending variance for "Other expenses" for March would have been closest to Revenue Employee salaries and wages Refurbishing materials Other expenses Multiple Choice $500 F $3,000 F Variable Element per Container Refurbished $4,000 $1,000 $ 600 1500 Actual Total: for March $ 130,000 $ 75,600 $ 18,800 $ 38,400
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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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is a shipping container refurbishment company that measures its output by the number of containers refurbished. The company has
provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results of operations for March
Fixed Element
per Month
$ 42,700
$ 37,900
When the company prepared its planning budget at the beginning of March, it assumed that 35 containers would have been refurbished. However, 32
containers were actually refurbished during March
The spending variance for "Other expenses" for March would have been closest to
Revenue
Employee salaries and wages
Refurbishing materials
Other expenses
Multiple Choice
$500 F
$3,600 F
Variable Element
per Container
Refurbished
$ 4,000
$ 1,000
$ 600
1500 U
Actual Total
for March
$ 130,000
$ 75,600
$ 18,800
$ 38,400
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