Sunland Company’s master budget reflects budgeted sales information for the month of June, 2022 as follows: Budgeted Quantity Budgeted Unit Sales Price Product A 41,600 $7 Product B 48,800 $9 During June, the company actually sold 39,800 units of Product A at an average unit selling price of $7.10 and 51,200 units of Product B at an average unit price of $8.90. Prepare a Sales Budget Report for the month of June for Sunland Company which shows whether the company achieved its planned objectives.
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.
Sunland Company’s
|
Budgeted
Quantity |
Budgeted Unit
Sales Price |
|||
|---|---|---|---|---|
|
Product A
|
41,600 | $7 | ||
|
Product B
|
48,800 | $9 |
During June, the company actually sold 39,800 units of Product A at an average unit selling price of $7.10 and 51,200 units of Product B at an average unit price of $8.90.
Prepare a Sales Budget Report for the month of June for Sunland Company which shows whether the company achieved its planned objectives.
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