Cranes, Inc. provided the following budgeted information for March through July: Projected sales Projected merchandise purchases Inventory at end of month March April May July $85770 $100860 $94300 $108240 $115950 $67240 $75770 $61750 $54610 $59860 $11150 $9270 O $4995. O $6890. O $5250. O $3675. $9840 June $10170 $11730 Cranes estimates that it will collect 30% of its sales in the month of sale and 70% in the month after the sale. General operating expenses are budgeted to be $25420 per month of which depreciation is $25420 of this amount. Crane pays operating expenses in the month incurred. The income tax rate is 30%. How much is budgeted net income for May?

Q: A merchanding company reported the information below from its March master budget: Cost of goods…

A: Sales means the amount recorded in books as revenue earned by selling the goods or services. Account…

Q: The following credit sales are budgeted by Wildhorse Co.: May   $514100 June   756000 July…

A: Cash inflow during the month includes all the cash receipts from the customers during the desired…

Q: Monte Company's July sales budget shows sales of $1,200,000. The company budgets beginning…

A: Cost of goods sold is the expenses that are directly incurred with production of goods and…

Q: Budget Preparation Collins Company is preparing its master budget for April. Use the given estimates…

A: Disclaimer:“Since you have posted a question with multiple sub-parts, we will solve the first three…

Q: The following budgeted production and sales information is for Flushing Company for the month of…

A: PRODUCTION BUDGETProduction Budget is a Forecast of the Production for the Budgeted Peirod of an…

Q: Thornton Company sells lamps and other lighting fixtures. The purchasing department manager prepared…

A: Inventory purchase budget is used for estimating the required amount of purchases so that the…

Q: A sales budget for the first five months of 2021 is given on a certain product line manufactured by…

A: The question is related to budgetory control. The sales in units for six months  from January, 2021…

Q: Seaworthy​ Company, a merchandising​ company, has prepared the following sales​ budget: Month…

A: Sales budget is prepared by the management of the company to forecast the sales for the upcoming…

Q: Merchandise purchases budgets. Calculation of Desired ending inventory Next period budgeted sales…

A: Merchandise Purchase Budgets :— Financial plan of the organisation that reports the total estimates…

Q: Forecast sales volume and sales budget For 20Y8, Raphael Frame Company prepared the sales budget…

A: We'll create a table to show the budgeted and actual unit sales for each frame size and area, along…

Q: Provide table

A: Therefore, the total budgeted cash payments for merchandise for September is $630,000.

Q: Saratoga Company budgeted the following information for 2022 : May June July Budgeted purchases of…

A: Cash disbursement refers to the process of paying out cash or cash equivalents to settle liabilities…

Q: Rooney Company sells lamps and other lighting fixtures. The purchasing department manager prepared…

A: Purchase Budget: It refers to a financial worksheet that a business prepares in order to compute or…

Q: I need help solve

A: Step 1: Introduction to the Cash Disbursements:A schedule of cash disbursements is prepared as part…

Q: ssume a merchandising company provides the following information from its master budget for the…

A: Cash collection :— It is the amount of credit sales collected from customer during the period. It is…

Q: Assume a merchandising company provides the following information from its master budget for the…

A: A cash budget is prepared to estimate the total cash received and total cash disbursement. The cash…

Q: How much is the budgeted balance for Accounts Payable at October 31, 2022?

A: Account payable  means the amount owed by business to outsider for the goods received and services…

Q: TAP & Brothers Third-Quarter Budget Data   July August September Credit Sales 256,167 262,962…

A: Cash Budget is an Future estimation of all expected cash receipts and cash payments to be made for…

Q: Ivanhoe Design provided the following budgeted information for April through July:   April May…

A: Cash disbursement means the amount paid in cash during a particular period. In the cash budget, it…

Q: Stuart Company sells lamps and other lighting fixtures. The purchasing department manager prepared…

A: Inventory purchase budget :— This budget is prepared to estimate the inventory purchased to be…

Q: Budgeted purchases in December are:

A: Opening inventory + Purchase - Sales = Closing inventory

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.