Johnston Bookstore is the bookstore on campus for students and faculty. The bookstore shows the following sales projections in units by quarter for the upcoming year: (Click the icon to view the unit sales projections.) Complete the sales budget, one product at a time. Books: Unit sales Multiply by: Unit price Book revenue Johnston Bookstore Sales Budget For the Quarters in the Upcoming Year Q1 Q2 Q3 Q4 Year (Click the icon to view the average price information.) Requirement Prepare a sales budget for the upcoming year by quarter for the Johnston Bookstore, with sales categorized by the four product groupings (books, school supplies, apparel, and miscellaneous).
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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