Concord and Company makes and sells high-quality glare filters for computer monitors. John Stanford, controller, is responsible for preparing Concord's master budget. He has received the following sales forecast for the coming year from the sales manager. Forecasted unit sales Sales price per unit Budgeted units sold Prepare Concord's sales budget for the first quarter. Budgeted sales price. Budgeted revenue January 21,000 $65 $ February March 13,500 $65 January April 20,000 24,000 $65 $60 February March Quarter
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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