Mcinerney Jeep Tours operates jeep tours in the heart of the Colorado Rockies. The company bases its budgets on two measures of activity (ie, cost drivers), namely guests and jeeps. One vehicle used in one tour on one day counts as a jeep. Each jeep has one tour guide. The company uses the following data in its budgeting: Revenue Tour guide wages Vehicle expenses Administrative expenses Mcinemey Jeep Tours Flexible Budget For the Month Ended October 31 Actual guests Actual jeeps Revenue Expenses: $0 BO $123 $13 $66 $ 4,150 $2,850 56 $0 In October, the company budgeted for 330 guests and 96 jeeps. The actual activity for the month was 365 guests and 116 jeeps Required: Prepare the company's flexible budget for the actual level of activity in October. Tour guide wages Vehicle expenses Fixed element per month 80 $0 Administrative expenses otal expense et operating income Variable Variable element per element per 365 116 quest $116 jeep

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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.