Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,200 pounds of oysters August. The company's flexible budget for August appears below: For Quilcene Oysteria Flexible Budget the Month Ended August 31 Actual pounds (a) Revenue ($4.109) Expenses: Packing supplies ($0.40g) Oyster bed maintenance ($3,300) Wages and salaries ($2,100+ $0.35g) Shipping ($0.75g) Utilities ($1,220) Other ($460+ $0.014) Total expense Net operating income The actual results for August were as follows: 7,200 $ 29,520 2,880 3,300 4,620 5,400 1,220 532 17,952 $ 11,568
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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