TB Problem 9-105 (Algo) [LO 9-2] Blossom, Incorporated prepared the following master budget items for July: 25,560 units Production and sales Variable manufacturing costs: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing costs Total manufacturing costs Required: During July, Blossom actually sold 38,600 units. Prepare a flexible budget for Blossom based on actual sales. Note: Do not round your intermediate calculations. Production and Sales Variable Manufacturing Costs: Direct Materials Direct Labor Variable Manufacturing Overhead $ 38,340 51,120 63,900 113,000 $ 266,360 Fixed Manufacturing Costs Total Manufacturing Costs units
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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![TB Problem 9-105 (Algo) [LO 9-2]
Blossom, Incorporated prepared the following master budget items for July:
25,560 units
Production and sales
Variable manufacturing costs:
Direct materials
Direct labor
Variable manufacturing overhead
Fixed manufacturing costs
Total manufacturing costs
Required:
During July, Blossom actually sold 38,600 units. Prepare a flexible budget for Blossom based on actual sales.
Note: Do not round your intermediate calculations.
Production and Sales
Variable Manufacturing Costs:
Direct Materials
Direct Labor
Variable Manufacturing Overhead
$ 38,340
51,120
63,900
113,000
$ 266,360
Fixed Manufacturing Costs
Total Manufacturing Costs
units](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fecb3ccf8-64a3-4f42-90b5-c9c7edf16923%2Fc3c8e3fd-3604-4a5f-8656-4b0e3917ff60%2Fod12jdk_processed.png&w=3840&q=75)
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