Production of Peace products has been budgeted at 220,000 units for July. One unit of Peace products requires 5 kilos of raw material. The projected beginning and ending materials inventory for July are: Beginning inventory: 160,000 kilos Ending inventory: 40,000 kilos How many kilos of material should be purchased in July? Amounts must be in whole numbers. Example: 88,000 or (88,000)
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.
Step by step
Solved in 2 steps
