Sales.... Cost of goods sold Fixed Budget Report For Year Ended December 31, 2019 Direct materials .... Direct labor..... Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line).. Utilities ($45,000 is variable) .... Plant management salaries Gross profit...... Selling expenses Packaging..... Shipping ... Sales salary (fixed annual amount).. General and administrative expenses Advertising expense Salaries...... Entertainment expense Income from operations $975,000 225,000 60,000 300,000 195,000 200,000 75,000 105,000 250,000 125,000 241,000 90,000 $3,000,000 1,955,000 1,045,000 430,000 456,000 $ 159,000
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.
Phoenix Company’s 2019
- Identify the unit variable costs in the format of variable costing, according to your findings in part a
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