and The BUS Club prepares a budget for a trip. They expect to use 10 gallons of ga 1 pay $3.30 per gallon. In addition, they estimate buying 2 meals at a cost off $150 per meal. They actually use 12 gallons and pay $3.20 per gallon and s $330 for 3 meals. spen From the foregoing information, compute the following variances. Indicate whether the variance is favorable (F) or unfavorable (U): (Show your work!) a. Gasoline price variance. b. Gasoline quantity variance. c. Meal price variance. d. Meal quantity variance. I
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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