SDIA wants to sell a T-shirt for fundraising and market it to its current 100 members in the group. The cost of each shirt is $10. Create a budgeting planning of the incoming revenue as well as expenses and that you think will occur through this fundraising event. Explain your reasonings behind the numbers you are using in the budgeting planning and tell us what your final assessment of the fundraising is.
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.
SDIA wants to sell a T-shirt for fundraising and market it to its current 100 members in the group. The cost of each shirt is $10. Create a budgeting planning of the incoming revenue as well as expenses and that you think will occur through this fundraising event. Explain your reasonings behind the numbers you are using in the budgeting planning and tell us what your final assessment of the fundraising is.
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