Navigator sells GPS trackers for $50 each. It expects sales of 5,000 units in quarter 1 and a 5% increase each subsequent quarter for the next 8 quarters. PLEASE NOTE: Units are rounded to whole numbers with commas as needed (i.e. 1,234). All dollar amounts are rounded to whole dollars and shown with "$" and commas as needed (i.e. $12,345). Budgeted Costs Desired Ending Inventory Sales Price per Unit Expected Sales (units) Required Production Purchases Required Beginning Inventory Total Sales Revenue Total Required Units Using the information above, along with the terms above, prepare a sales budget by quarter for the first year (use the format shown in the textbook): Navigator Sales Budget For the Year Ended Dec. 31, 2019 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Total ? ? ? ? ? ? ? ? ? ? ? X ? ? ? ? ? ?
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.
2. Navigator sells GPS trackers for $50 each. It expects sales of 5,000 units in quarter 1 and a 5% increase each subsequent quarter for the next 8 quarters.
PLEASE NOTE: Units are rounded to whole numbers with commas as needed (i.e. 1,234). All dollar amounts are rounded to whole dollars and shown with "$" and commas as needed (i.e. $12,345).
| Budgeted Costs | Desired Ending Inventory | Sales Price per Unit |
| Expected Sales (units) | Required Production | Purchases Required |
| Beginning Inventory | Total Sales Revenue | Total Required Units |
Using the information above, along with the terms above, prepare a sales budget by quarter for the first year (use the format shown in the textbook):
| Navigator |
| Sales Budget |
| For the Year Ended Dec. 31, 2019 |
|
|
|
|
Total | |||||
| ? | ? | ? | ? | ? | ? | ||||
| ? | ? | ? | ? | ? | X | ||||
| ? | ? | ? | ? | ? | ? |
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