Business Resources - Differences Between Actual Cost/Revenue and Budgeted Cost/Revenue Merit

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  • Published : March 19, 2012
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Business Resources
merit
Budgeted Costs and Revenues for ABC.
Cost/Revenue| October| November | December| Total |
Credit Sales to educational institutions| 4800| 6000| 5640| 16440| Cash sales in Shop| 5600| 6000| 6800| 18400|
Materials| 1200| 1500| 1410| 4110|
Wages: Technician| 1000| 1000| 1000| 3000|
Wages: Shop Assistants| 850| 850| 850| 2550|
Advertising| 550| 340| 340| 1230|
Insurance| 300| 300| 300| 900|
Telephone| 120| 120| 120| 360|
Heat and light| 70| 85| 100| 255|
Postage| 175| 175| 150| 500|
Bank Loan repayment| 350| 350| 350| 1050|

Cost/Revenue| October| November | December| Total |
Credit Sales to educational institutions| 3600| 4800| 5880| 14280| Cash sales in Shop| 4600| 5870| 6890| 17360|
Materials| 1200| 1450| 1100| 3750|
Wages: Technician| 1100| 1320| 1210| 3630|
Wages: Shop Assistants| 850| 850| 850| 2550|
Advertising| 650| 300| 320| 1270|
Insurance| 300| 300| 300| 900|
Telephone| 110| 110| 115| 335|
Heat and light| 110| 135| 180| 425|
Postage| 135| 150| 180| 465|
Bank Loan repayment| 350| 350| 350| 1050|

Actual Costs and Revenues for ABC

Differences between actual cost/revenue and budgeted cost/revenue of BIT computer solution. Cost/ Revenue| Total actual cost/Revenue| Total budgeted cost/revenue| Differences| Credit Sales to educational institutions| 14200| 16440| 2160 F| Cash sales in Shop| 17360| 18400| 1040A|

Materials| 3750| 4110| 360 F|
Wages: Technician| 3630| 3000| 360 A|
Wages: Shop Assistants| 2550| 2550| 0|
Advertising| 1270| 1230| 40 A|
Insurance| 900| 900| 0|
Telephone| 335| 360| 25 F|
Heat and light| 425| 255| 170 A|
Postage| 465| 400| 65 F|
Bank Loan repayment| 1050| 1050| 0|

Budgeting
The advantages of creating a budget far outweigh the disadvantages so we will start by discussing...
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