Vaughn Company has accumulated the following budget data for the year 2025. Sales: 31,320 units, unit selling price $85. Cost of one unit of finished goods: direct materials 1 pound at $5 per pound, direct labor 3 hours at $12 per hour, and manufacturing overhead $7 per direct labor hour. Inventories (raw materials only): beginning, 10,300 pounds; ending. 15,190 pounds. Selling and administrative expenses: $170,000; interest expense: $30,000. Income taxes: 20% of income before income taxes. 1 2. 3. 4. 5. Prepare a schedule showing the computation of cost of goods sold for 2025. VAUGHN COMPANY Computation of Cost of Goods Sold For the Year Ending December 31, 2025 Cost of one unit of finished goods: Direct materials Direct labor Manufacturing overhead Total Cost of Goods Sold

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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.