Mars Company is in the period of budgeting for next year. The Sales manager forecasted the number of units to be sold as 5000-units and determined the selling price at 10 OMR per unit. The management revised these estimates with a 10 % decrease in selling price and with a 20 % Increase in the number of units sold. According to these revised estimates, which of the following is the revised Sales (OMR)? Select one: a. OMR 44000 b.OMR 54000 C. OMR 66000 G. OMR 50000
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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