Shalom Company prepared its 2023 direct labor budget to produce Product Peace. Producing each unit requires 1.5 direct labor hours and the company estimates that the hourly rate for wage for each quarter are P280, P290, P300, P305, respectively. Month January February March April May June July August September October November December Units 500 1,000 600 800 1,400 900 800 1,200 500 900 700 3,000 Amounts must be in whole numbers. Example: 88,000 or (88,000) How much is the total direct labor budget? For Quarter 4
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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