Carlos Consulting Inc. provides financial consulting and has collected the following data for the next year's budgeted activity for a lead consultant. Consultants' wages $90,000 Fringe benefits $22,500 Related overhead $17,500 Supply clerk's wages $18,000 Fringe benefits $4,000 Related overhead $20,000 Profit margin per hour $20 Profit margin on materials 15% Total estimated consulting hours 5,000 Total estimated material costs $168,000 A consulting job takes 20 hours of consulting time and $180 of materials. The client's bill would be O $772. $1,172. $1,100. $952.
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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