The following information is available for the Danske Company: Denominator hours for May 20,000 Actual hours worked during May 19,000 Standard hours allowed for May 17,000 Flexible budget fixed overhead cost $ 60,000 Actual fixed overhead costs for May $ 64,000 Danske Company had total underapplied overhead of $20,000. Additional information is as follows: Variable Overhead: Applied based on standard direct labor hours allowed $ 52,000 Budgeted based on standard direct labor hours 43,000 Fixed Overhead: Applied based on standard direct labor hours allowed $ 40,000 Budgeted based on standard direct labor hours 32,000 What is the actual total overhead for the period?
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 information is available for the Danske Company: Denominator hours for May 20,000 Actual hours worked during May 19,000 Standard hours allowed for May 17,000 Flexible budget fixed
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