Recall that BlueDenim Company constructed the following formula for monthly electricity cost. (Refer to Cornerstone 3-2 to see how the fixed cost per month and the variable rate were computed.) Total electricity cost = $440+ ($6.10 x Machine hours) Required: Assume that 550 machine hours are budgeted for the month of October. Use the previous cost formula for the following calculations: 1. Calculate total variable electricity cost for October. 2. Calculate total electricity cost for October.
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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