Budgeted sales in cases........ Packaging cost per case....... Shipping expense per case..... Sales commission expense Salaries expense.. Office rent... Depreciation Insurance expense. Office supplies expense Actual expenses Packaging cost. Shipping expense. Sales commission expense. Salaries expense.. Office rent ****** Requirement 8,400 cases 3% of sales price 6,900 3,900 2,800 1,800 1,000 $ 43,700 $ 35,200 $ 7,464 $ 8,200 $ 3,900 $ 2,800 1,500 1,100 Depreciation Insurance expense. Office supplies expense During the year, Echo Canyon Muffins actually sold 8,600 cases, resulting in total sales revenue of $248,800. $ $ X Construct a flexible budget performance report for Echo Canyon Muffins for the year. Be sure to indicate whether each variance is favorable (F) or unfavorable (U)
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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