Agent Blaze uses flexible budgets that are based on the following data: Sales commissions .... ....6% of sales Advertising expense . .... 20% of sales Miscellaneous selling expense . . . . . . $2,500 plus 2% of sales Office salaries expense.... . $17,000 per month Office supplies expense .3% of sales Miscellaneous administrative expense ... $1,750 per month plus 1% of sales Prepare a flexible selling and administrative expenses budget for
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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