At January 1, 2022, Concord, Inc. has beginning inventory of 4700 widgets. Concord estimates it will sell 34000 units during the first quarter of 2022 with a 5% increase in sales each quarter. Concord's policy is to maintain an ending inventory equal to 10% of the next quarter's sales. Each widget costs $3 and is sold for $6. How much is budgeted sales revenue for the third quarter of 2022? $204000 $202590 $224910 $37485
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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