A. Betz Company's sales budget shows the following projections for the year ending Dec. 31, 2021: Quarter No. of Units First 60,000 80,000 45,000 55,000 Second Third Fourth Inventory at Dec. 31 of last year was budgeted at 18,000 units. The quantity of finished goods inventory at the end of each quarter should equal 30% of the next quarter's budgeted sales of units. REQUIRED: 1. Prepare the production budget for the first and second quarters separately. Include a 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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