The following data pertain to the Oneida restaurant Supply Company for the year just ended: Budget sales revehue 945000 OMR Budgeted manufacturing 440000 OMR overhead Budgeted machine hours 18000 hours Actual manufacturing 472000 OMR overhead Actual machine hours 17000 hours Required Calculate the overapplied or underapplied overhead for the year using machine hours as a driver
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.
The following data pertain to the Oneida restaurant Supply Company for the year just ended: Budget sales revehue 945000 OMR
Budgeted manufacturing 440000 OMR
Actual manufacturing 472000 OMR overhead Actual machine hours 17000 hours
Required Calculate the overapplied or underapplied overhead for the year using machine hours as a driver
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