Bramble Industries has budgeted the following unit sales: 2022 Units January 10,100 February 7,500 March 9,500 April May 11,000 15,000 The finished goods units on hand on December 31, 2021 was 2,020 units. Each unit of finished goods requires 2 pounds of direct materials that are estimated to cost an average of $6 per pound. It is the company's policy to maintain a finished goods inventory at the end of each month equal to 20% of next month's anticipated sales. The company also has a policy of maintaining a direct materials inventory at the end of each month equal to 30% of the pounds needed for the following month's production. There were 5,748 pounds of direct materials on hand at December 31, 2021.

Q: Explain the characteristics

A:

Q: What are the scopes of the IPSASs?

A: Financial Accounting- It is the branch of accounting that records events of financial nature that…

Q: The components of the conceptual framework ?

A:

Q: Tucariz Company processes Duo into two joint products, Big and Mini. Duo is purchased in 1,000…

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Q: Why is a source document important? List some examples of source documents.

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Q: Explain

A: LCNRV method means Lower of cost and net realizable value method.

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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.