The following information is from the manufacturing budget and budgeted financial statements of Altman Corporation: Direct materials inventory, 1/1 Direct materials inventory, 12/31 Direct materials budgeted for use during year Accounts payable to suppliers, 1/1 Accounts payable to suppliers, 12/31 For the year, budgeted cash payments to suppliers amounted to: $ 86,000 $ 102,000 $ 344,000 $ 54,000 $ 64,000
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.
![The following information is from the manufacturing budget and budgeted financial statements of Altman Corporation:
Direct materials inventory, 1/1
Direct materials inventory, 12/31
Direct materials budgeted for use during year
Accounts payable to suppliers, 1/1
Accounts payable to suppliers, 12/31
For the year, budgeted cash payments to suppliers amounted to:
$ 86,000
$ 102,000
$ 344,000
$ 54,000
$ 64,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe07b2ddf-aef7-4b60-927c-b612ae3991c2%2F950232d6-06ad-46e4-87f7-37f6f7e0cfa1%2Ftiaryvj_processed.png&w=3840&q=75)
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