Actual and budgeted information about the sales of a product are presented below for June: (CIA adapted) Units Sales Revenue Multiple Choice Actual The sales price variance for June was: O 9,800 $ 289,100 $11,800 unfavorable. $9,800 unfavorable. $12,300 unfavorable. $9,800 favorable. Budget 11,800 $336,300
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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