Havana Hats makes the world's best hats. Information for the last eight months follows: Number of Hats Produced 8,000 4,500 7,000 8,600 3,750 6,000 Month January February March April May June July August 3,000 5,000 Total Cost $ 7,000 5,000 6,250 7,750 5,000 6,250 4,250 5,750 Required: Using the high-low method, calculate the variable cost per hat and total fixed cost per month
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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