The following production and cost information is for X Company for 2019: Budgeted 10,600 productionunits Budgeted costs: Total fixed Per-unit $9.13 variable Actual $236,000 12,600 productionunits Actual costs: Total fixed Total variable $261,960 $93,625 1. What was the 2019 static budget? 2. What was the 2019 flexible budget?
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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