A merchanding company reported the information below from its March master budget: $79,100 $74,200 Cost of goods sold Cash paid for merchandise purchases Selling and administrative expenses Cash paid for selling and administrative expenses $34,100 $26,900 $19,200 Retained earnings, March 1 Retained earnings, March 31 $25,400 If the company does not plan to declare a dividend or incur any interest in the month, what is its budgeted sales for March? Ignore taxes.
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.
![A merchanding company reported the information below from its March master budget:
Cost of goods sold
Cash paid for merchandise purchases
Selling and administrative expenses
$79,100
$74,200
$34,100
Cash paid for selling and administrative expenses
Retained earnings, March 1
$26,900
$19,200
Retained earnings, March 31
$25,400
If the company does not plan to declare a dividend or incur any interest in the month, what is its budgeted sales for March? Ignore taxes.
Multiple Choice
$1,000
$119,400
$101,900](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fffd8c266-bf65-4ea8-9b3b-8a303065b5fc%2F0c36ff0f-4d39-4be4-91c5-1b6084aa5a44%2F2p8bpzx_processed.jpeg&w=3840&q=75)
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