QUESTION 2 Steve Richardson, management accountant at Jupiter Ltd, is examining the behaviour of quarterly maintenance costs for budgeting purposes. Steve collects the following data on machine-hours worked and maintenance costs for the past eight quarters: Save Answer Quarter Machine-hours Maintenance costs 1. 1,200 $2,150 12 750 1,500 3 1,100 2,000 14 1,500 2,700 900 1,450 15 1,490 2,800 16 2,250 17 1,300 1,000 1,950 18 Required: for she quarterly data using the high-loyw method,
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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