A fast food restaurant has 125 seats, an average check of 3.00, a daily seat turnover of 2.5 and the restaurant is open 5 days a week. Average check is forecast to increase by 10 % next year. Next year's budgeted sales revenue will be: 328,100 dollars 252,128 dollars 2,268,125 dollars 2,243,750 dollars 268,125 dollars
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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