36. At January 1, 2020, Jake, Inc. has beginnin 15,000 units during the first quarter of 2020 with a 10% increase in sales each quarter. Jake's polic maintain an ending inventory equal to 25% of the next quarter's sales. Each surfboard costs $200 sold for $250. How much is budgeted sales revenue for the third quarter of 2020? a) $18,150 b) $4,537,500 c) $907,500 d) $3,750,000
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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