Richard Miller, Coronado & Miller Fabricators' purchasing manager, has just completed the company's inventory purchases budget. January February March Quarter Budgeted unit sales 22,000 28,000 32,000 82,000 Budgeted ending inventory 8,400 9,600 9,900 9,900 Budgeted unit cost 18.95 18.95 18.95 18.95 Prepare Coronado & Miller's ending inventory and cost of goo sold budget for the first quarter. Ending inventory 2$ Cost of goods sold $
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.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
