Waterway Company combines its operating expenses for budget purposes in a selling and administrative expenses budget. For the first six months of 2022, the following data are available: 1. 2. 3. Sales: 20,500 units in quarter 1; 22.700 units in quarter 2 Variable costs per dollar of sales: sales commissions 5%; delivery expense 2%, and advertising 4% Fixed costs per quarter: sales salaries $10,200; office salaries $8,800; depreciation $4,600, Insurance $1.700, utilities $700, and repairs expense $600 Unit selling price: $22 Prepare a selling and administrative expenses budget by quarters for the first six months of 2022. WATERWAY COMPANY Selling and Administrative Expenses Budget For the Six Months Ending June 30, 2022 1 $ Total

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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.