Which of the following statements is true? I. The direct labor budget begins with the required production in units from the production budget II. The direct labor budget shows the direct labor-hours required to satisfy the production budget. Multiple Choice О Neither statement is true. О Only statement II is true. О Only statement I is true. Both statements are true.
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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