Willow Products expects the following sales of its single product: March April May June July Units 5,200 6,100 7,750 8,300 9,800 Willow Products has an ending finished goods inventory policy of 30% of the next month's sales needs. Required Prepare a production budget for Willow Products for the quarter ending June 30. Budgeted unit sales Plus: Ending finished goods inventory Less: Beginning finished goods inventory Budgeted production (units) Willow Products Production Budget For the Quarter Ending June 30 April 6,100 May 7,750 June 8,300 Total
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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