Helen Industries gathered the following budgeted information about its product: Each unit of product contains 3 kg of materials at a cost of $9 per kilogram. The average waste and spoilage per unit produced under normal conditions is 0.30 kg. Freight costs average $0.80 per kilogram. + Each unit requires 3 hours of labour. Rest periods and cleanup average 0.20 hours per unit and set-up time averages 0.40 hours. The average pay rate of Helen's employees is $13 per hour with an additional $1.90 per hour for payroll taxes and benefits. Manufacturing overhead is applied at a rate of $9 per direct labour hour. Calculate Helen's total standard cost per unit. (Round calculations and final answer to 2 decimal places, e.g. 15.25.) Total standard cost per unit $

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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. 

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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.