Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: • Sales are budgeted at $340,000 for November, $320,000 for December, and $310,000 for January. • Collections are expected to be 80% in the month of sale, 16% in the month following the sale, and 4% uncollectible. • The cost of goods sold is 75% of sales. • The company purchases 60% of its merchandise in the month prior to the month of sale and 40% in the month of sale. Payment for merchandise made in the month following the purchase. • Other monthly expenses to be paid in cash are $24,000. • Monthly depreciation is $15,000. • Ignore taxes. Assets: Cash......... Accounts receivable (net of allowance for uncollectible accounts). Statement of Financial Position October 31 Inventory.. Property, plant and equipment (net of $572,000 accumulated depreciation)......... Total assets. Select one: O a. $40,400 O b. $68,600 O c. $28,200 O d. $12,200 $ 20,000 70,000 153,000 1.094,000 $1.337.000 Liabilities and Stockholders' Equity: Accounts payable..... Common stock. Retained earnings. Total liabilities and stockholders' equity. The excess (deficiency) of cash available over disbursements for December would be: S 254,000 820,000 263,000 $1,337,000

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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.