Production and sales estimates for March for Robin Co. are as follows: Estimated inventory ( units), March 1 17, 100 Desired inventory (units), March 31 19,700 Expected sales volume ( units): Area M 6,500 Area L 9,300 Area O 7, 100 Unit sales price $17 Budgeted production for March is a. 42, 600 b. 22, 900 c. 59,700 d. 25, 500
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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