Budgeting Inventories For each independent situation below, determine the missing amounts: A B C D Beginnning inventory 8,000 Answer 5,000 Answer Produced 40,000 25,000 Answer 60,000 Available Answer Answer 26,000 66,000 Sold 45,000 30,000 Answer Answer Ending inventory Answer 10,000 8,000 1,000
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.
Budgeting Inventories
For each independent situation below, determine the missing amounts:
| A | B | C | D | |||
|---|---|---|---|---|---|---|
| Beginnning inventory | 8,000 | Answer | 5,000 | Answer | ||
| Produced | 40,000 | 25,000 | Answer | 60,000 | ||
| Available | Answer | Answer | 26,000 | 66,000 | ||
| Sold | 45,000 | 30,000 | Answer | Answer | ||
| Ending inventory | Answer | 10,000 | 8,000 | 1,000 |
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