The following data is Material A (Kgs) B (Kgs) C (Kgs) 16,000 6,000 24,000 Estimated Opening Stock Estimated Closing Stock 20,000 8,000 28,000 Estimated Consumption 120,000 44,000 132,000 Standard Price per unit (OMR) 0.250 0.050 0.100 What is Total Budgeted Cost of Purchases for Material B for the month of January, 2015 OMR 2,100 OMR 2,300 OMR 4,400 OMR 11,000
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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