Caspion Corporation makes and sells a product called a Miniwarp. One Miniwarp requires 2.5 kilograms of the raw material Jurision. Budgeted production of Miniwarps for the next five months is as follows: August September October November December 22,600 units 21,300 units 22,700 units 23,900 units 23,600 units The company wants to maintain monthly ending inventories of Jurision equal to 20% of the following month's production needs. On July 31, this requirement was not met since only 10,800 kilograms of Jurision were on hand. The cost of Jurision is $18.00 per kilogram. The company wants to prepare a Direct Materials Purchase Budget for the next five months. The total cost of Jurision to be purchased in August is

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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.