Master budget framework, Cost Accounting

Assignment Help:

Master Budget Framework

The master budget is the overall quantifications of the budgeting plan. In this, functional budgets are not corporate. A functional budget is a budget if income and or expenditure for a particular function. Therefore the master budget combines all the budgets of the different departments in organizations. It is useful in ensuring about all the individual budgets are consistent along with one another and presents also a 'unit' picture of the whole organization.

It is made up of both non-production and production budgets.

835_Master Budget Framework.png

Production budgets include:

- Sales Budget

- Finished Goods Budgets

- Material budges

- Labour budgets

- Overheads budgets.

Non-Production Budgets Include

- Selling & Distribution

- Administration Budget

- Cash Budget

- Research and Development - Capex

- All these budgets translate into the projected profit and loss a/c and the budgeted Balance Sheet.

- The relationship between all these budgets is summarized in the figure.


Related Discussions:- Master budget framework

Sgtatement of Cash Flow, “The statement of cash flows is the easiest of the...

“The statement of cash flows is the easiest of the basic financial statements to prepare because you know the answer before you start. You compare the beginning and ending balances

Calculate the approximate yield to maturity of the bonds, Netflix Inc wants...

Netflix Inc wants to issue discount bonds with a market value equal to 45% of their face value. The income tax rate of Netflix is 30%. The bonds will carry 3.5% coupon, paying inte

Prepare the appropriate entries for december 31, A corporation acquired a t...

A corporation acquired a truck on July 1, 2012, at a cost of $162,000. The truck has a six-year useful life and an estimated salvage value of $18,000. The straight-line method of d

Job costing, XYZ Company is a family-owned bicycle manufacturing company lo...

XYZ Company is a family-owned bicycle manufacturing company located in Stow, Ohio. Until recently,it had maintained slow but steady growth in producing and marketing its only prod

Material costs, Material Costs Material refers to each physical input ...

Material Costs Material refers to each physical input into the production procedure. They involve the giving as: Raw material refers to bought in material that is used

Accrued liabilities, Accrued liabilities show expenses or obligations incur...

Accrued liabilities show expenses or obligations incurred in the earlier accounting period but the payment for similar will be made in the subsequent period. In several cases where

Using the dupont formula for rate of return on investment, The vice preside...

The vice president of operations of six layer computer Inc. is evaluating the performance of two divisions organized as investments centers. Invested assets and condensed income st

Compute the indirect production costs, The manufacturing division of an ele...

The manufacturing division of an electronics company uses activity-based costing. The company has identified three activities and the related cost drivers for indirect production c

the practice of standard costing., Determine why  JIT, TQM and AMTs may no...

Determine why  JIT, TQM and AMTs may not always be entirely compatible with  the practice of standard costing.

Calculate the economic profit and relevent cost, A. Bolero Industries Ltd. ...

A. Bolero Industries Ltd. has been approached by a customer who would like a special job to be done for her, and is willing to pay $60,000 for it. The job would require the followi

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd