Comparing his budget to his current expenses, Samuel noted that the current November expense of $ 14,480 was 112% of the budget amount. He also noticed that the current expenditure of $ 14,806.50 for December was 122% of the budget amount. Calculate the total amount of expenses that Samuel had planned for the business
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.
Comparing his budget to his current expenses, Samuel noted that the current November expense of $ 14,480 was 112% of the budget amount. He also noticed that the current expenditure of $ 14,806.50 for December was 122% of the budget amount. Calculate the total amount of expenses that Samuel had planned for the business
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