During the first quarter, skeleton produced 60,000 units and incurred total manufacturing costs of $184,000 b. A performance report for Skelton's first quarter of operations using a flexible budget approach would show: A) Actual costs over budget by $1,300. B) Actual costs over budget by $11,700. C) Actual costs over budget by $15,150. D) Total costs per the flexible budget of $194,400.
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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