ABC Financial Advisers charge by the hour for services provided. A separate fee in charged for preparing a financial plan. During June, hours charged are expected is to be 1,200 hours and 60 financial plans are expected to be prepared. Time is charged at $44 per hour and the charge for a financial plan is $1,200. What is the ABC Financial Adviser's total budgeted income for the month of June?
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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