Solution-Explain how a master budget can be a useful tool

Explain how a master budget can be a useful tool in aligning

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Reference no: EM132472396

You will need to submit a budget report to the CEO, including an explanation of the utility of master budgets.

You will also submit a variance report that shows how the company is performing versus budgeted amounts. Use the following data:

	Q1	Q2	Q3	Q4	Quarterly Budget
Chairs	1150	1200	1250	1400	1300
Tables	900	950	1000	1150	1100
Dresser s	650	700	750	900	800

Chairs	120
Tables	90
Dressers	70

Actual amount of wood purchased and used	46,120 bd. ft.
Actual cost of wood purchased and used	$80,028
Actual amount of direct labor hours	17,900
Actual cost of direct labor	$275,550

Question 1: Create variance reports for Q1, Q2, Q3, and Q4 against the Quarterly Budget.

Question 2: Generate a quarterly budget for the upcoming year that includes sales, production, materials and labor budgets. Assume a 10% increase in sales.

Question 3: Explain how a master budget can be a useful tool in aligning a company's operations to its long-term goals.

Reference no: EM132472396

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Explain how a master budget can be a useful tool in aligning

Reference no: EM132472396

Reference no: EM132472396

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