[The following information applies to the questions displayed below.] The fixed budget for 21,400 units of production shows sales of $470,800; variable costs of $64,200; and fixed costs of $141,000. If the company actually produces and sells 27,000 units, calculate the flexible budget income. ------Flexible Budget----- ------Flexible Budget at --- Variable Amount Total Fixed 21,400 units 27,000 units per Unit Cost Contribution margin
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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