Define the term operating budget.

Q: briefly discuss the budgeting process

A: Budget: Budget is a statement prepared by the management for a specific tenure, to accomplish the…

Q: what are the first two steps of a master budget? and are there formulas that are used for those…

A: The first two steps of a master budget are as follows: 1) Preparation of sales budget. A sales…

Q: Explain the benefits of budgeting.

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

Q: Why is the sales budget considered the cornerstone of the master budget?

A: Master budget is the sum total of all lower level budgets of the organisation various functions like…

Q: Define the term budgeting cycle.

A: Budget Cycle: The budget cycle refers to the whole time period starting from the creation of the…

Q: Explain direct labour budget.

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

Q: __________________is the cornerstone of the master budget?

A: The  Answer

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: The master budget will comprise of what?

A: A MASTER BUDGET IS A SERIES OF SMALLER BUDGETS THAT ARE ROLLED UP INTO ONE LARGER BUDGET TO PROVIDE…

Q: _________________is an operating budget

A: The Answer :

Q: What

A: Budgets act as an instrument of coordination.

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: Define the term budget. How are budgets used in planning?

A: SOLUTION- BUDGET-  BUDGET ARE PREPARE FOR PLANNING AND CONTROLLING PURPOSES. BUDGETS FACILITATE…

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: Explain budgetary reporting requirements.

A:

Q: What is the most commonly used Comparison pertaining to the budget

A: the budgeting process is considered to be an essential component of the management control system as…

Q: Define operating budget

A: An operating budget comprises all things considered and costs over some stretch of time (regularly a…

Q: uses and advantage of budget

A: Budget is referred to as an estimation of the expenses as well as revenues of the individual or the…

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: Explain the role of budget in management cycle.

A: Management: It is an art of getting things done by others. The others include the employees of…

Q: Explain the types of budget.

A: Budgets: Budgets are prepared for the planning and controlling purposes. Budgets facilitate planning…

Q: Based on the above information what is the budgeted

A: Fixed cost is the cost that remains the same at every level of activity. The company can produce any…

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 the term flexible budget.

A: Flexible Budgets:   Flexible budgets are prepared for various levels of activities or outputs. This…

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: A cash budget is:

A: A Budget is a financial document which specifies the management’s plan for a future specified time…

Q: How to compute the flexable budget items.

A: Flexible Budget: When the sales volume and price value and production volume etc  stable conditions…

Q: Describe major sections of budget.

A: What is Budget:   Budget is the estimation of Income and Expense. management prepare budget to…

Q: component of the master budget

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

Q: What is the process for developing a budgeted balance sheet?

A: The budgeted balance sheet is a report that a firm uses to examine the estimation of assets,…

Q: Explain how a budget facilitates communication and coordination.

A:

Q: Define rolling budget. Give an example.

A:

Q: What is an operating budget?

A:

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 master budget.

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

Q: res of a budget

A: There should be a proper fixation of authority and responsibility. The delegation of authority…

Q: Explain the role of budget in management cycle?

A: Budget is the term which is defined as the financial plan for particular period, generally for one…

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

A: FALSE.

Q: Define the term production budget.

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