During the last 5 years, the advertising manager for a corporation has gathered the following data that shows the relationship between the advertising budget (in millions of dollars) and the total sales (in thousands of units). Advertising Budget (x) $4.4 $6.6 $3.3 $3.6 $4.5 (in millions) Sales (y) (in thousands) 37 46 42 32 29 Copy Data Step 2 of 2: Estimate the sales if $1.3 million is budgeted for advertising. Round your answer to the nearest unit, if necessary.
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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