Prepare the direct labor budget for the year.
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.
Product
JB 50 |
Product
JB 60 |
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---|---|---|---|---|
Sales budget:
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||||
Anticipated volume in units
|
400,000 | 200,000 | ||
Unit selling price
|
$20 | $25 | ||
Production budget:
|
||||
Desired ending finished goods units
|
30,000 | 15,000 | ||
Beginning finished goods units
|
25,000 | 10,000 | ||
Direct materials budget:
|
||||
Direct materials per unit (pounds)
|
2 | 3 | ||
Desired ending direct materials pounds
|
30,000 | 10,000 | ||
Beginning direct materials pounds
|
40,000 | 15,000 | ||
Cost per pound
|
$3 | $4 | ||
Direct labor budget:
|
||||
Direct labor time per unit
|
0.4 | 0.6 | ||
Direct labor rate per hour
|
$12 | $12 | ||
|
||||
Total unit cost
|
$13 | $20 |
An accounting assistant has prepared the detailed manufacturing
DELEON INC.
Direct Labor Budget choose the accounting period |
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JB 50
|
JB 60
|
Total
|
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select an opening name
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enter a number of units
|
|||||
select an item
|
enter a number of hours | |||||
select a summarizing line
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||||||
select an item
|
$enter a dollar amount | |||||
select a closing name
|
$enter a total for the row |
DELEON INC.
Budgeted Income Statement choose the accounting period |
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---|---|---|---|---|---|---|
JB 50
|
JB 60
|
Total
|
||||
select an opening income statement item
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$enter a dollar amount
|
$enter a dollar amount
|
$enter a total for the row
|
|||
select an income statement item
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select a summarizing line for the first part
|
||||||
select an opening section name
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||||||
select an income statement item
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||||||
select an income statement item
|
||||||
select a closing section name
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select a summarizing line for the second part
|
||||||
select an income statement item
|
||||||
select a summarizing line for the third part
|
||||||
select an income statement item
|
enter a dollar amount | |||||
select a closing name for this statement
|
$enter a total net income or loss amount |
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