Charm Enterprises' production budget shows the following units to be produced for the coming three months: Units to be produced April 3,010 May June 3,330 3,210 A finished unit requires five ounces of a key direct material. The March 31 Raw Materials Inventory has 6,660 ounces of the material. Each month's ending Raw Materials Inventory should be 40% of the following month's production new Materials purchases in May should be: Multiple Choice. 16,410 oz. 16,650 oz. 23,070 oz. 10,230 oz. 9,990 oz.
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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