INSTRUCTIONS: Use the information below to answer the five questions that follow. What will be the approximate percent increase from the previous year's budget for the new suggeste supply budget? At the beginning of the fiscal year, the supply budget for your office is $2,500. During the year, supplies were purchased as follows: July $433.72 Oct $102.00 Jan $172.33 Apr $94.87 Aug $107.83 Nov $203.95 Select the single best answer: OA. 2.90 percent OB. 4.75 percent C. 8.20 percent D. 13.75 percent E. None of the above. Feb $259.63 May $402.57 Sept $97.08 Dec $73.84 Mar $117.63 In June, you are asked to suggest a figure for next year's budget. You are informed in June that there will be a cost increase of nine percent for next year's budget.
INSTRUCTIONS: Use the information below to answer the five questions that follow. What will be the approximate percent increase from the previous year's budget for the new suggeste supply budget? At the beginning of the fiscal year, the supply budget for your office is $2,500. During the year, supplies were purchased as follows: July $433.72 Oct $102.00 Jan $172.33 Apr $94.87 Aug $107.83 Nov $203.95 Select the single best answer: OA. 2.90 percent OB. 4.75 percent C. 8.20 percent D. 13.75 percent E. None of the above. Feb $259.63 May $402.57 Sept $97.08 Dec $73.84 Mar $117.63 In June, you are asked to suggest a figure for next year's budget. You are informed in June that there will be a cost increase of nine percent for next year's budget.
Chapter1: Financial Statements And Business Decisions
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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.
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Transcribed Image Text:INSTRUCTIONS: Use the information below to answer the five questions that follow.
What will be the approximate percent increase from the previous year's budget for the new suggeste
supply budget?
At the beginning of the fiscal year, the supply budget for your office is $2,500. During the
year, supplies were purchased as follows:
July $433.72
Oct $102.00
Jan $172.33
Apr
$94.87
Select the single best answer:
A. 2.90 percent
B. 4.75 percent
C. 8.20 percent
OD. 13.75 percent
Aug $107.83
Nov $203.95
Feb $259.63
May $402.57
In June, you are asked to suggest a figure for next year's budget. You are informed in
June that there will be a cost increase of nine percent for next year's budget.
E. None of the above.
Sept $97.08
Dec $ 73.84
Mar $117.63
Transcribed Image Text:INSTRUCTIONS: Use the information below to answer the questions that follow.
Your boss suggests that you allow an additional 4.75% in your figure to cover unexpected needs. What will
your figure be?
At the beginning of the fiscal year, the supply budget for your office is $2,500. During the
year, supplies were purchased as follows:
July $433.72
Oct $102.00
Jan $172.33
Apr
$94.87
Aug $107.83
Nov $203.95
Feb $259.63
May $402.57
elect the single best answer:
A. $2,361
B. $2,573
C. $2,619
D. $2,854
Sept $97.08
Dec $73.84
Mar $117.63
In June, you are asked to suggest a figure for next year's budget. You are informed in
June that there will be a cost increase of nine percent for next year's budget.
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