appears below: Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (9) Revenue ($450.00g) Expenses: Wages and salaries ($11,700+ $120.009) Supplies ($5.00g) Equipment rental ($2,000+ $22.009) Insurance ($3,900) 400 $ 180,000 59,700 2,000 10,800 3,900 1,142 77,542 $ 102,458 Miscellaneous ($550 + $1.48q) Total expenses Net operating income During May, the company's actual activity was 390 diving-hours.
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.
D
Step by step
Solved in 3 steps
