a) Create & Analyze a budget for Rob, given the following information. Rob has a monthly income of $1652. His fixed expenses include $550 for rent, $232 for school loan payment, $15 and $112 for insurance. His variable expenses include $85 for utilities, $40 for telephone, $120 for fo household items, $50 for transportation and $100 for entertainment. BUDGET
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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