The following fixed budget is based on budgeted sales of 700 units. Fixed Budget Sales (700 units x $830 per unit) Costs Direct materials Direct labor Indirect materials Supervisor salary Sales staff commissions Shipping Administrative salaries Depreciation-Machinery Taxes and insurance Sales staff salaries (fixed) Income $ 581,000 59,500 101,500 38,500 14,000 31,500 34,300 43,200 7,100 4,100 7,300 $ 240,000 Complete this question by entering your answers in the tabs below.
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
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