Oriole Company's manufacturing overhead budget shows total variable costs of $201.960 and total fixed costs of $165,240. Total production in units is expected to be 153,000. It takes 20 minutes to make one unit, and the direct labor rate is $25 per hour. Express the manufacturing overhead rate as (a) a percentage of direct labor cost, and (b) an amount per direct labor hour. (Round manufacturing overhead rate as a percentage of direct labor cost to O decimal places and as an amount per direct labor hour to 2 decimal places, eg. 125.47) (a) (b) $ %
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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