1) Which of the following mathematical expression is used to calculate budgeted variable overhead cost rate per output unit?
A) Budgeted output allowed per input unit Ã— Budgeted variable overhead cost rate per input unit
B) Budgeted input allowed per output unit Ã· Budgeted variable overhead cost rate per input unit
C) Budgeted output allowed per input unit Ã· Budgeted variable overhead cost rate per input unit
D) Budgeted input allowed per output unit Ã— Budgeted variable overhead cost rate per input unit
D) Budgeted input allowed per output unit Ã— Budgeted variable overhead cost rate per input unit

A budget is an estimate of revenue and costs for a given period of time that is generally created and re-evaluated on a regular basis. Budgets may be created for an individual, a group of individuals, a company, a government, or almost anything else that generates and spends money.

A cash budget is a thorough plan that shows how cash will be collected and utilized. After the cash budget is produced, the budgeted income statement and finally the budgeted balance sheet may be prepared. A budget (from the ancient French word for purse) is a quantifiable financial plan for the next accounting period. A budget is a key concept in microeconomics, which use a budget line to represent the trade-offs between two options.

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