The controller is waiting on Crane's budgeted cash disbursements so the cash budget can be wrapped up for next month, but Crane mas just received the DM purchases budget from production. That budget shows DM purchases of $82,100 in March and $80,500 in April. Crane generally pays 30% of these purchases in the month of purchase, with the remainder paid the next month. How much should Crane budget for cash disbursements for the month of April? What is the budgeted balance of A/P going into May? Total cash disbursements $ A/P balance at end of April $
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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