Given the following: Total revenues Total variable expense Total fixed expense Net profit before tax Actual variable expense $ variance from (adjusted) budget Actual fixed expense $ variance from (adjusted) budget Budget Actual $ 1,210,500.00 $ 1,005,000.00 $ 665,775.00 $ 605,000.00 $ 410,000.00 $ 335,000.00 134,725.00 $ 44,000.00 $
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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