North Corp.'s December 31, 2009 inventory contains 20,000 units. Forecasted sales for 2010 are 430,000 units. North's production budget indicates the company should produce 438,000 units during 2010, what is North's desired inventory at December 31, 2010? 12,000 units 28,000 units 10,000 units none of the above 18,000 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.
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