Name of Department: Budget 2021 Budget Allocated to Department: Assumptions Wages Travel Meals Meals Training Supplies Misc. Salaries Director Supervisor Junior Total Wages Travel Meals Training Supplies Miscellaneous 130,000 95,000 65,000 ca. Jan 290,000 480,270 Feb Mar 130,000 95,000 195,000 420,000 Monthly Expense Apr 35,000 Netflix Yearly Budget May Budget Preparer: Jun Each department has 1 Director, 1 Supervisor, and 3 junior people There are 3 conferences in 2021 and you want to send 2 people. The cost for each conference the first 2 conferences is $3,000 per person and the final conference is $5,000 per person. The conferences will be held in February, May, and September Meals will be paid for the travel to the 3 conferences and each person will receive $250 per day and the conference is 5 days. In addition to the training, meals will have to be paid for the training seminar in April. Each person will receive $250 per day and the conference is 3 days. The entire department will be attending a training seminar in April and the cost per employee is $5,000. Each person in the department spends $24/month in supplies The company always allocates $50 per month for miscellaneous expenses from Jan-Oct and then $40 per month in Nov - Dec Jul Aug Sep Oct Nov 0 Dec Total 0 0 0 0 0 0 0
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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