Prepare a direct labor budget by quarters for the 6 months ending June 30, 2020.
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 5,130 in quarter 1 and 6,100 in quarter 2. It takes 1.5 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 For the Six Months Ending June 30, 2020June 30, 2020For the Quarter Ending June 30, 2020 |
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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 labor budget item Beginning Materials InventoryCost Per PoundDesired Ending InventoryDirect Labor Cost Per HourDirect Labor Time (Hours) Per UnitDirect Materials Per UnitDirect Materials PurchasesTotal Cost of Direct Materials PurchasesTotal Direct Labor CostTotal Materials RequiredTotal Pounds Required for ProductionTotal Required Direct Labor HoursUnits to be Produced
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enter a number of units
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enter a number of units
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select a labor budget item Beginning Materials InventoryCost Per PoundDesired Ending InventoryDirect Labor Cost Per HourDirect Labor Time (Hours) Per UnitDirect Materials Per UnitDirect Materials PurchasesTotal Cost of Direct Materials PurchasesTotal Direct Labor CostTotal Materials RequiredTotal Pounds Required for ProductionTotal Required Direct Labor HoursUnits to be Produced
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enter a number of hours | enter a number of hours |
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select a summarizing line for the first part Beginning Materials InventoryCost Per PoundDesired Ending InventoryDirect Labor Cost Per HourDirect Labor Time (Hours) Per UnitDirect Materials Per UnitDirect Materials PurchasesTotal Cost of Direct Materials PurchasesTotal Direct Labor CostTotal Materials RequiredTotal Pounds Required for ProductionTotal Required Direct Labor HoursUnits to be Produced
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enter a total number of hours for the first part
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enter a total number of hours for the first part
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select a labor budget item Beginning Materials InventoryCost Per PoundDesired Ending InventoryDirect Labor Cost Per HourDirect Labor Time (Hours) Per UnitDirect Materials Per UnitDirect Materials PurchasesTotal Cost of Direct Materials PurchasesTotal Direct Labor CostTotal Materials RequiredTotal Pounds Required for ProductionTotal Required Direct Labor HoursUnits to be Produced
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$enter a dollar amount
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$enter a dollar amount
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select a closing labor budget item Beginning Materials InventoryCost Per PoundDesired Ending InventoryDirect Labor Cost Per HourDirect Labor Time (Hours) Per UnitDirect Materials Per UnitDirect Materials PurchasesTotal Cost of Direct Materials PurchasesTotal Direct Labor CostTotal Materials RequiredTotal Pounds Required for ProductionTotal Required Direct Labor HoursUnits to be Produced
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$enter a total dollar amount
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$enter a total dollar amount
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$enter a total dollar amount
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