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Hockey Pro budgets production of 3,700 hockey pucks during May. The company assigns variable overhead at the rate of $2.00 per unit. Fixed overhead equals
Hockey Pro budgets production of 3,700 hockey pucks during May. The company assigns variable overhead at the rate of $2.00 per unit. Fixed overhead equals $50.000 per month. Prepare a factory overhead budget for May. HOCKEY PRO Factory Overhead Budget For Month Ended May 31 Budgeted total overhead Scora, Inc., is preparing its master budget for the quarter ending March 31. It sells a single product for $60 per unit. Budgeted sales for the next three months follow. Sales in units January February March 1, 4ee 2,800 1,990 Prepare a sales budget for the months of January, February, and March. SCORA INC. Sales Budget For January, February, and March Budgeted Unit Budgeted Unit Budgeted Total Sales Price Sales January February March Totals for the quarter Select each of the terms with the best description of its purpose. Terms Definitions 1. Management's use of budgets to see that planned objectives are met. 2. A plan showing units to be sold; the usual starting point in the master budget process. 3. A budgetary cushion used to meet performance targets. 4. Budgets that are revised by adding a new quarterly budget to replace the quarter that just elapsed. 5. A report that shows predicted balances of assets. liabilities and equity at the end of a budget period. 6. Shows the number of units for a manufacturer to produce in a period. 7. A report that shows predicted revenues and expenses for a budgeting period. 8. Employees affected by a budget help in preparing it
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