Crane Corporation's master budget for the year is shown below: Sales (62,000 units) Cost of goods sold: Direct materials Direct labor $ 198,400 502,200 Overhead (variable overhead applied at 30% of direct labor cost) 260,000 Gross profit Selling expenses: Sales commissions (all variable) Rent (all fixed) Insurance (all short-term fixed) General expenses: Salaries (all short-term fixed) Rent (all short-term fixed) Depreciation (all short-term fixed) Operating income $ 166,222 60,000 50,000 102,000 87,000 70,000 $ 2,294,000 960,600 $ 1,333,400 535,222 $ 798,178 Required: 1. During the year, the company manufactured and sold 57,000 units of product. Prepare a flexible budget for this level of output. 2. Now suppose that the actual level of output was 67,000 units. Prepare a flexible budget for this output level.

Q: Which of the following can be used to link two tables together? Select one: a. Primary Key b.…

A: Foreign key is a column or group of columns in a relational database table that provides a link…

Q: Show how to insert formula in excel

A: Perpetuity: It is a stream of cash flow that is presumed to continue for an indefinite period.

Q: can you hand write it instead of using excel

A: Here,Risk Free Rate is 3%Standard Deviation of Optimal Risky Portfolio is 20%Expected Return of…

Q: Which of the following is true of structured data? Select answer from the options below Structured…

A: The objective of the question is to identify the correct statement about structured data from the…

Q: What does the blank section post mean or what goes there

A: Post Column : It is the Column through which book keeper identify whether journal entries are…

Q: Which ways can a decision tree be presented to help lay out the sequence of decisions that can be…

A: Graphical representation:- In this format, nodes and branches are used to visually represent the…

Q: In a data visualization, the vertical axis typically shows __________.   Multiple Choice   values…

A: A column chart will include data labels along the horizontal (X) axis with measured metrics or…

Q: Part C and Part D are incorrect. Please help.

A: Dividend per share = Dividend declared to common stockholders / Number of common shares outstanding…

Q: What exactly are reversing entries, and why do we need them?

A: Journal entry is the entry which is made at the date on which the transaction which relates to the…

Q: Can you please enter the information clearly without so many spaces? The information is hard to…

A: The ratio of inventory turnover measures how effectively the business uses its inventory through…

Q: Identify the minimum cardinality of any REA diagram relationship. O or 1. O or N. 1 or N. None of…

A: Cardinality describes the nature of the relationship between two entities. It refers to the number…

Q: Select the letter of the item below that best matches the definitions that follow. a. Data Files CD…

A:

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.