acc - 220 - week 7 Appendix C - Bugets Matrix

acc - 220 - week 7 Appendix C - Bugets Matrix - rate...

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Appendix C Budgets Matrix Directions: Using the matrix, define each of the budgets listed and briefly describe its uses. Budget Definition Describe its uses Sales budget This budget comes from the sales project, which signifies management’s best approximation of sales profits for the budget time. The budget initiates the intensity of actions for other functions, which include production and purchasing. Production budget This budget demonstrates the units that should meet expected sales. The budget illustrates the businesses production necessities. Direct materials budget This budget explains the amount and price of direct materials that are obtainable. The budget demonstrates the price of material to gather production supplies. Direct labor budget This budget includes the total hours and price of direct labor required to meet production necessities. The budget explains the amount of hours and
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Unformatted text preview: rate necessary for production supplies. Manufacturing overhead budget This budget explains the anticipated manufacturing overhead expenses for budget time. The budget illustrates the price of overhead and differentiates connecting variable and fixed overhead expenses. Selling and administrative expense budget This budget plan projects selling and administrative operating cost for the budget stage. The budget explains expenses associated to sales and administration. Budgeted income statement This statement specifies the anticipated productivity of functions for the budget phase. The statement supplies the foundation for assess a company’s financial presentation. Cash budget This budget demonstrates projected cash flow. The budget offers to more useful cash management. It can illustrate to managers when supplementary financing will be required. ACC 220...
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This note was uploaded on 12/12/2011 for the course ACC 220 220 taught by Professor Aliciahubbard during the Winter '10 term at University of Phoenix.

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