The following information is for direct labor cost for X Company for 2021: Budgeted labor hours per unit of product Actual labor hours per unit of product Budgeted hourly wage rate Actual hourly wage rate Budgeted production Actual production
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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![The following information is for direct labor cost for X Company for 2021:
1. What was the direct labor static budget for 2021?
Budgeted labor hours per unit of product
Actual labor hours per unit of product
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Budgeted hourly wage rate
Actual hourly wage rate
Budgeted production
Actual production
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2. What was the direct labor flexible budget for 2021?
3.7
3.6
$11.70
$11.90
4,380 units
4,980 units](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fef3e1da9-efa9-41bf-8766-d612578816c8%2Fbd0a4980-e9ca-4983-8c07-163b57cda3c9%2Fuzv4xlj_processed.jpeg&w=3840&q=75)
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