Oniole Company expects to produce 52.000 units of product XLA during the current year. Budgeted variable manufacturing costs per unit are direct materials $7, direct labour $13, and overhead 517. Annual budgeted fixed manufacturing overhead costs are $91.500 for depreciation and $45.000 for supervision In the current month, Oriole produced 6.500 units and incurred the following costs: direct materials $40.950, direct labour $82.500, variable overhead $119,340, depreciation 57.625, and supervision $4.065. Prepare a flexible budget report it variable costs before fixed costs) Oriole Company
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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