Complete the Flexible Budget Performance Report below: Master Budget (100 hours) Flexible Budget (120 hours) Sales Revenue $2,000 ? Total Variable Costs $600 ? Total Fixed Costs $600 ? Total Variable Costs at 120 hours
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.
Question 18
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Complete the Flexible Budget Performance Report below:
Master Budget (100 hours)
Flexible Budget
(120 hours)
Sales Revenue $2,000
?
Total Variable Costs $600
?
Total Fixed Costs $600
?
Total Variable Costs at 120 hours
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