For Gundy Company, units to be produced are 5,000 in quarter 1 and 7,000 in quarter 2. It takes 1.6 hours to make a finished unit, and the expected hourly wage rate is $15 per hour. Prepare a direct labor budget by quarters for the 6 months ending June 30, 2020. GUNDY COMPANY Direct Labor Budget choose the accounting period Quarter 1 2 Six Months select an opening name enter a number of units enter a number of units select an item enter a number of hours enter a number of hours select a summarizing line enter a product of the two previous amounts enter a product of the two previous amounts select an item $enter a dollar amount $enter a dollar amount select a closing name $enter a product of the two previous amounts $enter a product of the two previous amounts $enter a total for the row
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.
For Gundy Company, units to be produced are 5,000 in quarter 1 and 7,000 in quarter 2. It takes 1.6 hours to make a finished unit, and the expected hourly wage rate is $15 per hour.
Prepare a direct labor budget by quarters for the 6 months ending June 30, 2020.
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GUNDY COMPANY
Direct Labor Budget choose the accounting period |
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Quarter
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1
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2
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Six Months
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select an opening name
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enter a number of units
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enter a number of units
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select an item
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enter a number of hours | enter a number of hours |
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select a summarizing line
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enter a product of the two previous amounts
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enter a product of the two previous amounts
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select an item
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$enter a dollar amount
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$enter a dollar amount
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select a closing name
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$enter a product of the two previous amounts
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$enter a product of the two previous amounts
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$enter a total for the row
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