Sales Direct Materials Direct Labor Variable Overhead Fixed Overhead Felski has the following actual information for 2022. Sales Direct Materials Direct Labor Variable Overhead Fixed Overhead Direct Materials Direct Labor Variable Overhead 2,000 units $10,000 $ 8,000 $ 4,000 $3,500 Fixed Overhead Complete the following performance report. Include the flexible budget variance and volume variances for each cost and indicate if they are favorable or unfavorable. Total 2,200 units $15,000 $9,000 $4,600 $4,200 Actual Flexible Budget Master/Static Budget
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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