Oriole Company classifies its selling and administrative expense budget into variable and fixed components. Variable expenses are expected to be $25,760 in the first quarter, and $5,560 increments are expected in the remaining quarters of 2020. Fixed expenses are expected to be $41,140 in each quarter. Prepare the selling and administrative expense budget by quarters and in total for 2020. $ $ ORIOLE COMPANY Selling and Administrative Expense Budget $ $ 2 Quarter $ 3
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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