the next three months as follows: July 4,800 units, August 6,300 units, and September 8,300 units. Walnut's ending finished goods inventory policy is 45% of the next month's sales. July 1 inventory is projected to be 2,100 units. Selling and administrative costs are budgeted to be $24,000 per month plus $6 per unit sold. What are the budgeted selling and administrative expenses for July? Multiple Choice $58,410 $33,210 $52,800
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.
Walnut Company has
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$58,410
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$33,210
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$52,800
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$48,300
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