1.What is Operational Budget?
An operating budget is the annual budget of an activity stated in terms of Budget Classification Code, functional/subfunctional categories and cost accounts. It contains estimates of the total value of resources required for the performance of the operation including reimbursable work or services for others. It also includes estimates of workload in terms of total work units identified by cost accounts.
One that embraces the impacts of operating decisions. It contains forecasts of sales, net income, the cost of goods sold, selling and administrative expenses, and other expenses. The cornerstone of an operational budget is forecasted sales. Therefore, the Sales Budget is the basic building block for the operational budget. Once the sales budget is prepared, then the Production Budget can be formulated. The operational budget also consists of the ending inventory budget, direct material budget, direct labor budget, factory overhead budget, selling and administrative budget, and budgeted income statement.
2.What Are The Components Of Family Budget?
1 Housing: rent, mortgage
2 utility: phone, electric,heat, water, trash, cell phones
3 food : groceries, non food items for household
4 Medical
5 Taxes
6 car and gas
7 Clothes,shoes
8 Entrainment: movies, cable, internet
9 Retirement
10 college
11 credit card bills
12 household repairs and up keep
Thu Jul 15, 2010 6:10 am