Flight Café prepares in-flight meals for airlines and its planning budget for July appears below: Flight Café Planning Budget For the Month Ended July 31 Budgeted meals (q) Revenue ($3.909) Expenses: Raw materials ($2.289) Wages and salaries ($6,300 + $0.209) Utilities ($1,900 $0.059) Facility rent ($3,300) Insurance ($2,200) Miscellaneous ($800 +$0.109) Total expenses Net operating income 26,000 $ 101,400 57,200 11,500 3,200 3,300 2,200 3,400 80,800 $ 20,600
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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