Production Budget 1st 2nd 3rd 4th Quarter Quarter Quarter Quarter Expected sales 7,000 5,000 8,000 6,000 Units 6,800 -To be determined- produced The previous year's 4th quarter ending inventory of 700 units meets the minimum requirement & end inventory 10% from next month. The expected production in the current 2nd Quarter is: a. 5,300 units O b. 6,800 units c. 4,500 units O d. 5,000 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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