Electro Company budgets production of 570,000 electric panels in the second quarter and 640,000 electric panels in the hird quarter. Each panel requires 0.80 pound of direct material at a cost of $1.70 per pound. The company desires to end each quarter with an ending inventory of this material equal to 20% of next quarter's budgeted materials requirements. Beginning inventory of this material is 91,200 pounds. Prepare a direct materials budget for the second quarter. ELECTRO COMPANY Direct Materials Budget Second Quarter Units to produce 570,000 units Materials needed for production (pounds) Total materials required Materials to purchase (pounds) Cost of direct materials purchases

Q: Yorkshire Air Co. is working on its direct labor budget for the next two months. Each unit of output…

A: Direct LaborDirect labor costs are directly attributable to the production of units.

Q: XYZ Company is preparing its direct materials budget. Budgeted production for January, February,…

A: Openings  inventory  = 20% of current  month budgeted production  =7000×20% =1400 units. Closing…

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Q: direct materials budget for January.

A: Computation of direct materials budget is shown below :

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A: The direct materials purchase budget is prepared to estimate the units and cost of direct materials…

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A: Total manufacturing costs includes the cost of direct material, direct labor and manufacturing…

Q: Crane Industries has adopted the following production budget for the first 4 months of 2027. Month…

A: Direct material purchase budget is the statement which is prepared by the entity to estimate the…

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A: Ending inventory of January will become the beginning inventory of February.

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A: Direct Materials Budget: It refers to a financial worksheet that a business prepares to determine…

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A:

Q: The Tobler Company has budgeted production for next year as follows:    Four pounds of raw…

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A: "Since multiple questions are posted, we shall answer the first question for you. For other…

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A: This shows the quantity of materials to be purchased during the budget period.The purchase budget…

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A: The direct materials purchase budget is prepared to estimate the cost of direct materials to be…

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A: Direct material is the material that has been used for the production process directly. The cost of…

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A: Direct  material purchases (in pounds)  = Total direct material required  for quarter  + Ending…

Q: Electro Company budgets production of 700,000 electric panels in the second quarter and 770,000…

A: MATERIAL PURCHASE BUDGETMaterials Budget is the budget that includes quantities of direct materials…

Q: The budget committee of Ferbel Company is preparing its manufacturing budget for the year.  Initial…

A: The manufacturing cost refers to the total direct and indirect costs manufacturing costs incurred by…

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Q: Miles Manufacturing has prepared the following sales budget for the first four months of the year:…

A: Production budget is the one which is prepared in order to estimate the units to be produced by an…

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Q: Electro Company budgets production of 450,000 transmissions in the second quarter and 520,000…

A: Direct Materials Budget: The direct materials usage budget is prepared to estimate the number of…

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A: Definition:Direct material budget: The direct material budget shows how much raw material purchases…

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A: The direct materials budget calculates the materials that must be acquired, by time period, in order…

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A: "Since you have asked multiple questions, we will solve first question for you. If you want any…

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A: Following is the answer to given question

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A: Accounting for Budget Control, Budgeting  Material Purchase Budget  Accounts Payable Budget

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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.