Silver Company manufactures kites and has the following information available for the month of April: Work in process, April 1 (100% complete for materials, 46% for conversion) Direct materials 33,000 units 50,000 56,000 Conversion cost Number of units started 79,000 units April costs Direct materials 106,000 171,000 Conversion cost Work in process, April 30 (100% complete for materials, 29% for conversion) 36,000 units EA A EA A
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.
1. reconcile the number of physical units
2.calculate the number of equivalent units
3.calculate the cost per unit
4. record the total cost of work in process
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