Truck Inc. makes one product. Budgeted unit sales are shown below: August Budgeted unit sales. July 10,100 8,600 September 9,100 October 13,600 The company is preparing a production budget for the 3rdst quarter. The ending finished goods inventory should equal 20% of the following month's unit sales. The inventory at the end of June was 7,100 units. Required: Prepare a production budget by month and in total for the third quarter. View keyboard shortcuts
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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