The following data is given for the Bahia Company: Budgeted production 1,073 units Actual production   917 units Materials:       Standard price per pound $1.76     Standard pounds per completed unit 10      Actual pounds purchased and used in production 8,895     Actual price paid for materials $18,235 Labor:       Standard hourly labor rate $14.36 per hour     Standard hours allowed per completed unit 4.4      Actual labor hours worked 4,722.55     Actual total labor costs $72,019 Overhead:       Actual and budgeted fixed overhead $1,199,000     Standard variable overhead rate $26.00 per standard labor hour      Actual variable overhead costs $132,231 Overhead is applied on standard labor hours. The variable factory overhead controllable variance is a.$174,318.73 unfavorable b.$174,318.73 favorable c.$27,326.20 unfavorable d.$27,326.20 favorable

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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.