August. The company's flexible budget for August appears Quilcene Oysteria Flexible Budget For the Month Ended August 31 Actual pounds (q) 7,500 Revenue ($4.10q) Expenses: $30,750 2,250 3,300 Packing supplies ($0.30q) Oyster bed maintenance ($3,300) Wages and salaries ($2,400 + $0.30q) Shipping ($0.55q) Utilities ($1,220) 4,650 4,125 1,220 Other ($440 + $0.019) 515 Total expense 16,060 Net operating income $14,690 The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,500 Revenue $26,500 Expenses: Packing supplies 2,420 3,160 Oyster bed maintenance Wages and salaries 5,060 3,855 Shipping Utilities 1,030 Other 1,135 Total expense 16,660 $ 9,840 Net operating income
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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