Vaughn Inc. is preparing its direct labour budget for 2022 from the following production budget for a full calendar year: Quarter 3 Quarter 1 2 Units 20,000 24,600 4 Total by quarter Each unit requires 1.3 hours of direct labour. Prepare a direct labour budget for 2022. Wage rates are expected to be $14 for the first two quarters and $16 for the remaining two quarters. Units 34,500 30,100 : 1 VAUGHN INC. Direct Labour Budget For the Year Ending December 31, 2022 2 Quarter 3
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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