During the current year, Grouper Corporation expects to produce 11.000 units and has budgeted the following: net income $220,000, variable costs $993,000, and fixed costs $107,000. It has invested assets of $1,100,000. The company's budgeted ROI was 20%. What was its budgeted markup percentage using a full-cost approach? Markup percentage
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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