Fortune Incorporated is preparing its master budget for the first quarter. The company sells a single product at a price of $25 per unit. Sales (in units) are budgeted at 152,000 for the first quarter. Cost of goods sold is $12 per unit. Other expense information for the first quarter follows. Sales Commissions Rent Advertising Office salaries Depreciation Interest Tax rate 8% $ 41,000 $ 580,000 $ 252,000 $ 134,000 of sales dollars. per quarter per quarter per quarter per quarter 1.25% quarterly on $280,000 note payable 40% Prepare a budgeted income statement for the first quarter ended March 31. (Round your intermediate and final answers to the nearest whole dollar.)

Q: Can you explain the answer without excel please? Thanks.

A: Cost of Car is $52000 Interest rate is 6% Time period is 5 years Monthly Interest rate "rate" is…

Q: Solve this question all subparts correctly definitely we upvote you.

A: Calculate the bank’s capital ratio before the agreement as shown below: Hence, the bank’s capital…

Q: a. Superscript O b. Regular Italic

A: Answer: Superscript is not a font style. Option (a) is correct answer. Regular, Bond and Italic is…

Q: What is a flat-file system?

A: A flat file system is a system that stores all the data in a single directory.

Q: I want answer in word document

A: Calculation used to evaluate the investment and financing decisions that involve cash flows…

Q: For what reasons is the NPV technique preferable to IRR?

A: The Net Present Value (NPV) technique is a financial evaluation method used to assess the…

Q: Natarajan, Inc. had the following operating segments, with the in Segment Expenses $ 650,000…

A: We must contrast the segment revenues with the sum of the revenues of all other segments in order to…

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: The correct answer in the context of sheaf theory is a category equipped with a Grothendieck…

Q: Having a probllem with T -Accts . Please help

A: The t-accounts are as follows:

Q: Wildhorse Company uses the allowance method for estimating uncollectible accounts. Prepare journal…

A: The journal entries are prepared to record the transactions on regular basis. The allowance for…

Q: ut control. cessing control. put control.

A: Control refers to the concept of having the desired power or authority to mold or manipulate an act…

Q: Could you explain without using the excel?

A: The face value of the bond is $1,000. The coupon rate is 2%. The period is 6 years. The interest…

Q: Using CVP analysis answer from d to g

A: Hi student Since you have asked for multiple subparts, we will answer only three subparts. If you…

Q: Discuss some of the problems associated with general ledger system that do not have coding system

A:

Q: Difference between the edit, short, and update run

A:

Q: I cannot use excel. please caculate manually

A: Given: Initial salary is $42,200 Salary rise after first year to $45,400 Inflation average is 3%

Q: Prepare the entry for the issuance under the following assumptions. (List all debit entries before…

A: The journal entries are prepared to record the transactions on regular basis. The cash received in…

Q: Please show solution in #4-8 will surely given an upvote, thank you

A: Journal Entries - Journal Entries are the primary transactions entered into by the company. It is…

Q: could you please provide the solution for b and c without using excel?

A: concept. 1. changes in future price = future price of current month - future price of previous…

Q: 1. Use Excel to compute the NPV and IRR of the two plans. Which plan, if any, should the company…

A: Net Present Value: It is the current worth of the project having the initial cost and annual…

Q: Choose the term that best describes static data? O Static data does not change once it is created. O…

A: static data does not change once it is createdThe best describes static data does not change once it…

Q: Bramble Corp. is a retailer operating in Calgary, Alberta, Bramble Corp. uses the perpetual…

A: Lets understand the basics.There are various methods followed for calculating cost of goods sold and…

Q: 1. Calculate the amounts to be reported on each employee's Wage and Tax Statement (Form W-2) for…

A:

Q: Please see images

A: Inventory is the goods and material a business holds for resale. LIFO:-  As the name suggests Last…

Q: FOB Destination

A: FOB Destination is a term used in trading of goods. It stands for Free On Board Destination.

Q: Define the following term using 1 or 2 complete sentences (not just key words) ERP System

A: Introduction:- ERP stands for Enterprise resource planning. It handles large volumes of data and…

Q: Hi can you explain transaction F.

A: Every business wants that all items should be reported accurately in the financial statements. These…

Q: Explain how changesin activity affect c ontributionm argin and net operatingincome.

A: Contribution Margin is the amount of margin from sales revenue after deducting variable expenses.…

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.