Yoshino, Inc., a merchandising company, has the following budgeted figures: Jan Feb Mar April $92,000 Sales $56,900 $62,000 $80,000 Cost of goods sold 60% of sales $15,000 + 20% Required ending of next month's inventory Inventory on hand on Jan 1 $30,000 sales Calculate the ending merchandise inventory for the month of March. O A. $63,000 O B. $33,400 OC. $48,000 O D. $31,540
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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