1) Jordan Corp has the following sales data forecast for the next year Q1 Budgeted sales in units 4,960.00 Q2 Budgeted sales in units 6,200.00 Q3 Budgeted sales in units 7,440.00 Q4 Budgeted sales in units 6,820.00 Selling price/ per unit 12.40 Sales collection in current quarter 65% Sales collection in next quarter 30% Uncollectible 5% Last year outstanding A/R $49,910.00
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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