B) Organize the following budgets in order of preparation by placing the number before it: Cash budget Selling and administrative expense budget Manufacturing overhead budget Direct materials purchase budget Budgeted balance sheet Sales budget Direct labor budget Budgeted income statement Budgeted cost of goods sold Production budget
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.
- B) Organize the following budgets in order of preparation by placing the number before it:
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Selling and administrative expense budget |
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Manufacturing |
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Direct materials purchase budget |
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Budgeted |
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Sales budget |
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Direct labor budget |
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Budgeted cost of goods sold |
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Production budget |
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