The production manager of Rordan Corporation has submitted the following quarterly production forecast for the upcoming liscal year 1st Quarter 8,400 2nd Quarter 6,500 3rd Quarter 7,200 4th Quarter 8,100 Units to be produced Each unit requires 0.65 direct labor-hours, and direct laborers are paid $12.00 per hour. Required: 1. Prepare the company's direct labor budget for the upcoming fiscal year. (Round "Direct labor time per unit (hours)" answers to 2 decimal places.) Rordan Corporation Direct Labor Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Direct labor time per unit (hours) Total direct labor-hours needed Direct labor cost per hour Total direct labor cost
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 production manager of Rordan Corporation has submitted the following quarterly production
|
|
1st Quarter |
2nd Quarter |
3rd Quarter |
4th Quarter |
|
Units to be produced |
8,400 |
6,500 |
7,200 |
8,100 |
Each unit requires 0.65 direct labor-hours, and direct laborers are paid $12.00 per hour.
Required:
- Prepare the company’s direct labor budget for the upcoming fiscal year. (Round "Direct labor time per unit (hours)" answers to 2 decimal places.)
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
