Calculate the pounds of raw material you will need to purchase in August if your desired ending inventory is 35% of next month's usage, beginning inventory raw material in August is 147,000 pounds, production in August is anticipated to be 84 units and each unit requires 5 pounds of material and September's anticipated production is 76, 000 units.
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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