Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (g) 100 Revenue ($365.00g) $ 36,500 Expenses: 20,500 Wages and salaries ($8,000+ $125.00g) Supplies ($3.00g) 300 Equipment rental ($1,800 + $32.00g) 5,000 Insurance ($3,400) 3,400 Miscellaneous ($630+ $1.80g) 810 Total expense 30,010 Net operating income $ 6,490 During May, the company's actual activity was 105 diving-hours.
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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