Flexible Budget with Different Levels of Production Bowling Company budgeted the following amounts: Variable costs of production: Direct materials 3 pounds @ $0.60 per pound Direct labor 0.5 hr. @ $16.00 per hour VOH 0.5 hr. @ $2.20 FOH: Materials handling $6,200 Depreciation $2,600 Required: Prepare a flexible budget for 2,500 units, 3,000 units, and 3,500 units. Bowling Company Flexible Budget 2,500 units 3,000 units 3,500 units Direct materials $fill in the blank 1 $fill in the blank 2 $fill in the blank 3 Direct labor fill in the blank 4 fill in the blank 5 fill in the blank 6 Variable overhead fill in the blank 7 fill in the blank 8 fill in the blank 9 Fixed overhead: Materials handling fill in the blank 10 fill in the blank 11 fill in the blank 12 Depreciation fill in the blank 13 fill in the blank 14 fill in the blank 15 Total $fill in the blank 16 $fill in the blank 17 $fill in the blank 18
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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Flexible Budget with Different Levels of Production
Bowling Company budgeted the following amounts:
Variable costs of production: Direct materials 3 pounds @ $0.60 per pound Direct labor 0.5 hr. @ $16.00 per hour VOH 0.5 hr. @ $2.20 FOH: Materials handling $6,200 Depreciation $2,600 Required:
Prepare a flexible budget for 2,500 units, 3,000 units, and 3,500 units.
Bowling Company Flexible Budget 2,500 units 3,000 units 3,500 units Direct materials $fill in the blank 1 $fill in the blank 2 $fill in the blank 3 Direct labor fill in the blank 4 fill in the blank 5 fill in the blank 6 Variable overhead fill in the blank 7 fill in the blank 8 fill in the blank 9 Fixed overhead: Materials handling fill in the blank 10 fill in the blank 11 fill in the blank 12 Depreciation fill in the blank 13 fill in the blank 14 fill in the blank 15 Total $fill in the blank 16 $fill in the blank 17 $fill in the blank 18
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