Carlos Consulting Inc. provides financial consulting and has collected the following data for the next year’s budgeted activity for a lead consultant. Consultants’ wages $90,000 Fringe benefits $22,500 Related overhead $17,500 Supply clerk’s wages $18,000 Fringe benefits $4,000 Related overhead $20,000 Profit margin per hour $20 Profit margin on materials 15% Total estimated consulting hours 5,000 Total estimated material costs $168,000 The material loading charge is Group of answer choices 15%. 55%. 40%. 25%.
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.
Carlos Consulting Inc. provides financial consulting and has collected the following data for the next year’s budgeted activity for a lead consultant.
Consultants’ wages $90,000
Related overhead $17,500
Supply clerk’s wages $18,000
Fringe benefits $4,000
Related overhead $20,000
Profit margin per hour $20
Profit margin on materials 15%
Total estimated consulting hours 5,000
Total estimated material costs $168,000
The material loading charge is
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