On January 1, 2022, the Tamarisk Company budgeted the following for the year ended December 31, 2022: Sales units: First quarter 4.300, second quarter 5,100; third quarter 5.900; fourth quarter 6,300 units; First and second quarters of 2023:6.900 units. Ending raw materials inventory: 40% of the next quarter's production requirements. Ending finished goods inventory: 30% of the next quarter's expected sales in units. Desired production for first quarter of 2023 is 6.900 units. 1. 2 3 4.
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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