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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.
Abel Company manufactures a single product. Budgeted data are as follows: Production /sales 12,000 units Variable costs per unit P 7.20 Fixed costs P 9,600 Current assets 60% of sales Fixed assets P 48,000 The company wants to earn 20%
a. 8.00
b. 10.00
c. 12.00
d. 12.50
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