Name of Department: Budget 2021 Budget Allocated to Department: Assumptions Wages Travel Meals Meals Training Supplies Misc. Salaries Director Supervisor Junior Total Wages Travel Meals Training Supplies Miscellaneous 130,000 95,000 65,000 ca. Jan 290,000 480,270 Feb Mar 130,000 95,000 195,000 420,000 Monthly Expense Apr 35,000 Netflix Yearly Budget May Budget Preparer: Jun Each department has 1 Director, 1 Supervisor, and 3 junior people There are 3 conferences in 2021 and you want to send 2 people. The cost for each conference the first 2 conferences is $3,000 per person and the final conference is $5,000 per person. The conferences will be held in February, May, and September Meals will be paid for the travel to the 3 conferences and each person will receive $250 per day and the conference is 5 days. In addition to the training, meals will have to be paid for the training seminar in April. Each person will receive $250 per day and the conference is 3 days. The entire department will be attending a training seminar in April and the cost per employee is $5,000. Each person in the department spends $24/month in supplies The company always allocates $50 per month for miscellaneous expenses from Jan-Oct and then $40 per month in Nov - Dec Jul Aug Sep Oct Nov 0 Dec Total 0 0 0 0 0 0 0
Name of Department: Budget 2021 Budget Allocated to Department: Assumptions Wages Travel Meals Meals Training Supplies Misc. Salaries Director Supervisor Junior Total Wages Travel Meals Training Supplies Miscellaneous 130,000 95,000 65,000 ca. Jan 290,000 480,270 Feb Mar 130,000 95,000 195,000 420,000 Monthly Expense Apr 35,000 Netflix Yearly Budget May Budget Preparer: Jun Each department has 1 Director, 1 Supervisor, and 3 junior people There are 3 conferences in 2021 and you want to send 2 people. The cost for each conference the first 2 conferences is $3,000 per person and the final conference is $5,000 per person. The conferences will be held in February, May, and September Meals will be paid for the travel to the 3 conferences and each person will receive $250 per day and the conference is 5 days. In addition to the training, meals will have to be paid for the training seminar in April. Each person will receive $250 per day and the conference is 3 days. The entire department will be attending a training seminar in April and the cost per employee is $5,000. Each person in the department spends $24/month in supplies The company always allocates $50 per month for miscellaneous expenses from Jan-Oct and then $40 per month in Nov - Dec Jul Aug Sep Oct Nov 0 Dec Total 0 0 0 0 0 0 0
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter8: Budgeting
Section: Chapter Questions
Problem 6PA: Budgeted income statement and balance sheet As a preliminary to requesting budget estimates of...
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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.
Question
Transcribed Image Text:Name of Department:
Budget 2021
Budget Allocated to Department:
Assumptions
Wages
Travel
Meals
Meals
Training
Supplies
Misc.
Salaries
Director
Supervisor
Junior
Total
Wages
Travel
Meals
Training
Supplies
Miscellaneous
130,000
95.000
65,000 ca.
Jan
290,000
480,270
Feb
Mar
130,000
95,000
195.000
420,000
Monthly
Expense
Apr
35,000
0
Netflix Yearly Budget
May
Budget Preparer:
Jun
Each department has 1 Director, 1 Supervisor, and 3 junior people
There are 3 conferences in 2021 and you want to send 2 people. The cost for each conference the first 2 conferences is $3,000 per person and the final conference is $5,000 per
person. The conferences will be held in February, May, and September
Meals will be paid for the travel to the 3 conferences and each person will receive $250 per day and the conference is 5 days.
In addition to the training, meals will have to be paid for the training seminar in April. Each person will receive $250 per day and the conference is 3 days.
The entire department will be attending a training seminar in April and the cost per employee is $5,000.
Each person in the department spends $24/month in supplies
The company always allocates $50 per month for miscellaneous expenses from Jan - Oct and then $40 per month in Nov - Dec
ol
Jul
Aug
Sep
Oct
Nov
ol
Dec
ol
Total
0
0
0
0
0
0
0
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