St. Louis Cardinals has been producing batting gloves for the past year. They have excess capacity. The following budget has been prepared for next year. Units to be produced & sold Total sales Manufacturing variable costs Manufacturing fixed costs $ $ $ 500 Selling variable costs Administrative fixed costs 25,000 16,000 Administrative variable costs 1,600 Selling fixed costs $ $ $ $ 2,000 4,000 1,000 1,500

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…

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…