Willow Products expects the following sales of its single product: Units March 5,200 April 6,200 May 7,700 June 8,200 July 9,400 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. Willow Products Production Budget For the Quarter Ending June 30 April May Budgeted unit sales Plus: Ending finished goods inventory Less: Beginning finished goods inventory Budgeted production (units) June 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.
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
