A "budget" is a plan in which an individual balances available resources and expenses.
Budgeting is the essential way that you can take control of your accounts. Basically, a budget is a composed arrangement for how you will spend your cash. You can make a month to month or a yearly spending plan. The budget enables you to settle on money related choices early, which makes it less demanding to cover every one of your costs consistently. Budgeting reliably can enable you to turn your accounts around and start to fabricate riches.
 
        
                    
             
        
        
        
Answer and Explanation:
The computation of the total budgeted selling and administrative expenses is shown below;
Utilities expense $2,800 
Administrative salaries $100,000 
Sales commissions 5 % of sales i.e. 5% of $860,000  $43,000
Advertising $20,000 
Depreciation on store equipment $50,000 
Rent on administration building $60,000 
Miscellaneous administrative expenses $10,000 
total budgeted selling and administrative expenses $285,800
 
        
             
        
        
        
Answer:
One of the greatest contributions of scientific management in today's organization is increasing the productivity. Scientific management focuses on the activities performed by the workers in an organization. The importance of this was that scientific management makes the workers or employees efficient
 
        
             
        
        
        
Answer: The correct answer is False. 
Explanation:
Business behavior will not determine the ethics of society. Businesses can't be responsible to change the moral and ethical behaviors of a single person or an entire world. Only a person can change their own behavior. A society in whole can only be changed by each person acting upon their own free will. 
If a business is not ethical, then they need to change the way they work and do business and lead by example. 
 
        
             
        
        
        
Answer:
Amount of underapplied or overapplied overhead cost for the year 
$97000 - Underapplied
Schedule of cost of goods manufactured for the year
Direct Material                                3885000
Direct Labor                                      60000
Overheads                                       376000
Total Manufacturing Costs             4321000
Add Opening Inventory WIP           400000
Less Closing Inventory WIP            (700000)
Cost of Goods Manufactured         4021000
Explanation:
Amount of underapplied or overapplied overhead cost for the year
Underapplied or Overapplied overhead cost =Actual Overhead - Applied Overhead
$473000-$376000= $ 97000
Schedule of cost of goods manufactured for the year
<em>Direct Materials  Calculation  </em>                                  
Opening                                                      200000
Add Purchases                                         4000000
Available                                                    4200000
Less Closing Material                                 300000
Materials Consumed                                  3900000
Less Indirect Materials                                 15000
Direct Materials Consumed                       3885000