Sunland Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows. Indirect labor Indirect materials Utilities $1.00 0.70 Fixed overhead costs per month are Supervision $4,200, Depreciation $1,800, and Property Taxes $600. The company believes it will normally operate in a range of 7,000-13,000 direct labor hours per month. Assume that in July 2020, Sunland Company incurs the following manufacturing overhead costs. Variable Costs Indirect labor Indirect materials Utilities 0.40 $10,760 7,520 3,950 Fixed Costs Supervision Depreciation Property taxes $4,200 1,800 600 (a) Prepare a flexible budget performance report, assuming that the company worked 11,000 direct labor hours during the month. (List

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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.