Define operating budget

Q: Describe the steps involved in determining the project's budget.

A:

Q: budgeted income statement

A: The budgeted income statement represents the estimated profits from the operations for the…

Q: Explain direct labour budget.

A: Definition:   Operating budget: Operating budget which projects the budgeted amounts of operational…

Q: what is the source document for realignment of budget transaction for budgetary accounts?

A: The budget means the estimate of all-expense where the amount is spent. It is an estimate that the…

Q: Discuss the uses and advantages of budget.

A: A budget is a financial projection of a company's anticipated earnings and expenses. A budget, on…

Q: Define flexible budget.

A:

Q: A budget: A.is used to determine if a product should be continued or discontinued B.complies…

A: The budget is prepared by the business organizations so as to know the expected revenue and expenses…

Q: What is the first step in preparing a master budget ?

A: The master budget seems to be the budget that combines all of the other budgets into a single budget…

Q: Prepare Sales Budget,Production Budget,Material usageand purchase budget and Direct Labour Budget.

A: Budgets are prepared in order to forecast the sales and the cost to produce the products.

Q: Describe the budgeting and planning process.

A: Budgeting process: The process of streamlining the future expenditure process by predicting or…

Q: Describe budgeting process.

A: Budgeting is a process to prepare the financial statement by the manager to estimate the…

Q: Determine the budget for the department assuming that it uses flexible budgeting.

A: Direct labor cost per hour of production = Budgeted direct labor cost/ Budgeted production hours =…

Q: Which of the operating budgets is prepared first?

A: The operation of a business is an important and necessary component of every business. The…

Q: What are the benefits of making an operating budget?

A: Operating Budget: The operating budget is that budget which is prepared to plan all the operating…

Q: Which one of the following is an operating budget? a.cash budget b.sales budget c.budgeted…

A: Solutions- operating budgets are sales, production or manufacturing, labor, overhead, and…

Q: Define master budget.

A:

Q: Construct a material usage and purchases budget of the Bara Enterprise.

A: A material usage and purchases budget is a statement of estimation of a material required to produce…

Q: Prepare Revenues Budget Prepare production budget in units Direct Material Usage Budgets

A: Budget means the expected value of future. Budget is not affected by the actual value as it is…

Q: Describe the flow of budget data in an organization

A: Budget:   A budget is a statement of estimated revenues and expenditures for a specific period of…

Q: Construct the direct labor budget

A: Budget is defined as the estimated statement prepared by the management in the beginning of the…

Q: Production Budget

A: Budget: budget is an estimate prepared by the company to know its future goals and actions required…

Q: _________budget evaluates the results of operations at the actual level of activity

A: The Answer

Q: Define direct material budget.

A: Budget: Budget is an effective tool to achieve the financial and operational goals of the business.…

Q: Create budget assumption

A: Budgeting: Budgeting can be defined as the process of developing a financial plan that company…

Q: Define static budget.

A: Budget is a estimation of revenue and expenses for a future period of time

Q: Which of the following is an operating budget?A. cash budgetB. production budgetC. tax budgetD.…

A: An operational budget seems to be a projection of projected income and costs for one or even more…

Q: The starting point for preparing the master budget is the

A: Master Budget:   The master budget is a collection of budgets that is used by the company for…

Q: Define cash budget

A: A budget is a statement prepared to find out future incomes and expenditures. It is a plan prepared…

Q: Describe the process of project budgeting.

A: Budget is the summary statement of expected expenses and income for a particular period of time.…

Q: component of the master budget

A: Second option is wrong because budgeted income statement is a component of master budget. Third…

Q: Cash Budget

A: Cash budget is an estimate of cash flow for a particular future period.

Q: Explain the components of master budget.

A: Master Budget:   A master budget is defined as an aggregation of all the lower-level budgets that…

Q: Define the term financial budget.

A: Budget:   Budget is an effective tool to present the estimated actions for future time period. It…

Q: Define the term master budget.

A: Budget:   Budget is an effective tool to present the estimated actions for future time period. It…

Q: Give an example of how the capital expenditures budget affects other operating budgets.

A:

Q: Explain and give example of the following Management Reports Procedures Activities: Budget vs.…

A: Budgeting becomes a crucial part of business management as it facilitates evaluating and analyzing…

Q: Describe the objectives of budgeting.

A: Definition: Budgeting: Budgeting is a process to prepare the financial statement by the manager to…

Q: A detailed report to management comparing budgeted data with actual data for a specific time period…

A: Budget: Budget is an effective tool to achieve the financial and operational goals of the business.…

Q: A budget that adjusts to the changes in volume of production or output is called production budget.

A: FALSE.

Q: Analyze expense planning using activity-based budgeting.

A: Activity-based budgeting (ABB) refers to the system of creating a budget which documents/records,…

Q: Define the term production budget.

A: The creation financial plan figures the quantity of units of items that should be fabricated, and is…