Blossom, Inc. prepared the following master budget items for July: Production and sales. Variable manufacturing costs: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing costs Total manufacturing costs Production and Sales Variable Manufacturing Costs: During July, Blossom actually sold 42,000 units. Prepare a flexible budget for Blossom based on actual sales. (Do not round your intermediate calculations.) Direct Materials Direct Labor Variable Manufacturing Overhead Fixed Manufacturing Costs Total Manufacturing Costs 36,000 units $ 36,000 $ 86,400 $ 72,000 $110,000 $304,400 units

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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.