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What is the difference between budgeted profit and actual profit?
Budgeted Profit is the one which a company's financial analysts expect to have in a particular period of time (e.g one year) in the future and Actual Profit is the profit which is actually earned by the company. David Morson http://www.activetrader-links.com/
What is the difference between a cash budget and a budgeted profit and loss account?
Cash budget estimates the cash inflows and outflows and net cash available for specific period while budgeted profit and loss is the estimated statatement for planning purpose before actual activity starts.
What does a budgeted income statement consist of?
budgeted depreciation
How do you get budgeted sales?
Budgeted sales are estimated sales dependant on marketing research studies or past customer demands.
What is non budgetary control?
Non-Budgetary control is laying control on your non-budgeted expenses i.e those expenses which are not defined in normal budgeted expenses. The techniques for these non-budgetary control are : 1) Statistical data analysis. 2) Break-even analysis or the no profit & no-loss analysis. 3)Gantt Charts 4) PERT (Programmed Evaluation & Review Technique).
What causes the difference between actual and budgeted gross profit?
Budgeted gross profit is the expected profit amount before the start of production run while actual gross profit is the actual amount of profit which company earns after the production and sales of product.
What is the difference between budgeted profit and actual profit?
Budgeted Profit is the one which a company's financial analysts expect to have in a particular period of time (e.g one year) in the future and Actual Profit is the profit which is actually earned by the company. David Morson http://www.activetrader-links.com/
What is the difference between a cash budget and a budgeted profit and loss account?
Cash budget estimates the cash inflows and outflows and net cash available for specific period while budgeted profit and loss is the estimated statatement for planning purpose before actual activity starts.
What is the reason for multiplying the sales quantity variance by the budgeted sales price even if the actual sales volume was sold at a different price?
for profit.........
What does a budgeted income statement consist of?
budgeted depreciation
How do you get budgeted sales?
Budgeted sales are estimated sales dependant on marketing research studies or past customer demands.
How would you describe a budgeted cost?
Budgeted costs are generally described as the best estimate about what should be allowed for forthcoming activity.
What is non-budgetary controls?
Non-Budgetary control is laying control on your non-budgeted expenses i.e those expenses which are not defined in normal budgeted expenses. The techniques for these non-budgetary control are : 1) Statistical data analysis. 2) Break-even analysis or the no profit & no-loss analysis. 3)Gantt Charts 4) PERT (Programmed Evaluation & Review Technique).
What is non budgetary control?
Non-Budgetary control is laying control on your non-budgeted expenses i.e those expenses which are not defined in normal budgeted expenses. The techniques for these non-budgetary control are : 1) Statistical data analysis. 2) Break-even analysis or the no profit & no-loss analysis. 3)Gantt Charts 4) PERT (Programmed Evaluation & Review Technique).
How is target costing used to price products?
traditionally cost plus procedure were used means at the time of pricing the product we accumulated the cost(direct material+direct labor+direct expenses+variable production OH+fixed production OH)that has to be incurred in order to produce the product and determined the cost per unit and then add the profit margin to reached at the selling price this method of costing is precised for its simplicity but in 1960 the concept of target costing were introduced which tells us the opposite approach as compared to the traditional costing in target costing we starts from the market survey and determine at what selling price costumer is agree to buy the product which we want to produce after determining the selling price of the product we subtract the desired profit which we want to achieve from it(competitive selling price-desired profit=target cost) after subtracting the desired profit from the selling price we left with the cost termed as the TARGET COST. after setting of the target cost we look all the budgeted cost if budgeted cost is greater than the target cost we apply all the cost saving techniques to control the budgeted cost and keep the budgeted cost into the limits of target cost... (ANSWERED BY ARSALAN IDREES)
What is the formula of Absorption cost?
There is no formula as such. It involves 3 principle stages. Firstly the overheads (the indirect costs) are allocated or apportioned to all production departments (or profit centres) and to all service departments using logical bases for doing so. The overheads allocated or apportioned to the service departments are then re-apportioned to the production departments (or profit centres). The total cost of the overheads should now all be in the production departments or profit centres. These totals are then divided by a factor such as the budgeted direct labour hours or machine hours to obtain an overhead absorption rate of £x per direct labour hour of machine hour as appropriate. Overheads can then be charged to each unit produced depending upon the number of labour hours or machine hours used to make the product. The process is normally all based on budgeted overhead costs and budgeted production levels. There are plenty of examples and more detailed explanation on the internet.
The actual expenses for the most recent fiscal quarter were 120 percent of budgeted expenses If the budgeted expenses were 7585 dollars then what were the actual expenses?
20.0 or .20
