New Motion Ltd. manufactures a single product which has selling price is £ 120 per unit. The monthly budget units are 1000 units. £ Direct material 20 units @ £3 per un labour 3 hours @ £5 per hour 15 Variable overheads 5 hours @ £2 per hour 10 Fixed overheads 5 hours @ £1 per hour 590 Actual figures for the month of September are Production 1, 200 units Direct material 23,000 units @ £ 4 per unit Direct Wages 3,500 hours @ £ 5.2 Variable overheads € 11,000 Fixed overheads £ 6,000 Required: Calo material, labour and overhead variances for the month of September and prepare summary of variances report with explanation referred to responsibility persons for the III. Sun Flower Hotel in Washington prepare the Budget for the first quarter of 2018. Data concerning the company's operations in August appear below: Budget Actual Budget Results for Rooms Rent. $ 60,000 $ 74,000 Variable Expenses: Wa salaries 300 350 Revenue ($ 200) 18,000 19,400 Facility Supports 6,000 6,800 Power expenses 3,000 4,000 Fixed Expenses: Depreciation on Facilities Depreciation on Building. 12,000 13,000 Total expense... 4,500 4, 500 C 43,500 47,700 Net operating income
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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