Current Attempt in Progress George Daze Growers accumulated actual MOH costs this year of $52,380, even though it had budgeted $58,590 of MOH. It allocates MOH based on the direct labor hours of its workers. At the beginning of the year, it budgeted for 9,000 hours but ended up using 9,700 hours this year. Determine the following. (Round budgeted and actual MOH rate answers to 2 decimal places, e.g 2.25.) (a) The budgeted MOH rate (b) The actual MOH rate (c) Applied MOH under actual costing (d) Applied MOH under normal costing SA $ /hr. $ /hr. SA $
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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