Marcel company has the following budgeted sales for its coffee mugs: Month # of units Jan 60000 Feb 70000 Mar 65000 Apr 55000 Past experience has shown that the end of month finished goods inventory should equal 20% of the next month's budgeted sales. Marcel has 12000 coffee mugs in finished goods inventory on Dec 31. Complete the schedule for Jan, Feb, and Mar. Budgeted sales in units Desired Ending inventory Subtotal Beginning Inventory Required production in units
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.
Marcel company has the following budgeted sales for its coffee mugs:
Month # of units
Jan 60000
Feb 70000
Mar 65000
Apr 55000
Past experience has shown that the end of month finished goods inventory should equal 20% of the next month's budgeted sales.
Marcel has 12000 coffee mugs in finished goods inventory on Dec 31.
Complete the schedule for Jan, Feb, and Mar.
Budgeted sales in units
Desired Ending inventory
Subtotal
Beginning Inventory
Required production in units
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
