10. Willow Products expects the following sales of its single product: Units 5,000 6,000 7,500 8,000 July 8,800 Willow Products desires an ending finished goods inventory to be equal to 30% of the next month's sales needs. Actual March 1 inventory is projected to be 1,300 units. Required: Prepare a production budget for Willow Products for April, May and June. March April May June
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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