Required Using just the annual sales data, what is the sales forecast for fourth quarter of2015? Using just the quarterly sales data, what is the sales forecast for the fourth quarter of 2015? Using the quarterly sales data and the fact that the first quarter sales in 2015 amount to P14,000, what is the sales forecast for the fourth quarter of 2015?
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.
Gerber Company sells toys so its sales are heavily concentrated in the last quarter of the year because of holiday buying. The entity reported total sales for the past three years broken down to quarterly sales as follows:
|
|
March 31 |
June 30 |
September 30 |
December 31 |
Total |
|
2012 |
6,000 |
6,000 |
6,000 |
12,000 |
30,000 |
|
2013 |
8,000 |
8,000 |
8,000 |
16,000 |
40,000 |
|
2014 |
10,000 |
10,000 |
10,000 |
20,000 |
50,000 |
Required
- Using just the annual sales data, what is the sales
forecast for fourth quarter of2015? - Using just the quarterly sales data, what is the sales forecast for the fourth quarter of 2015?
- Using the quarterly sales data and the fact that the first quarter sales in 2015 amount to P14,000, what is the sales forecast for the fourth quarter of 2015?
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
