3. February, a retail shop purchased golf clubs for $497 per set. The original markup was 35% based on cost. In April, the shop took a 23% markdown by having a special sale. After two weeks, the sale was over and the clubs were marked up 10%. In June, the shop offered a storewide sale of 16% off all merchandise, and in September, a final 11% markdown was taken on the clubs. What was the final selling price of the golf clubs? 4 The original price of shoes is $121.12. If the sale price is $113.05, how much is the markdown? Round off answer to the nearest centavo.
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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