The production manager of Rordan Corporation prepared the following quarterly production forecast for next year: Units to be produced 1st Quarter 2nd Quarter 3rd Quarter 10,600 8,500 7,000 4th Quarter 11,100 Each unit requires 0.35 direct labor-hour, and direct laborers are paid $20.00 per hour. Required: 1. Prepare a direct labor budget for next year. Note: Round "Direct labor time per unit (hours)" answers to 2 decimal places. Direct labor time per unit (hours) Total direct labor-hours needed Direct labor cost per hour Rordan Corporation Direct Labor Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year < Prev 20 of 32 Next >
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.
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
