Appliance Possible Inc. (AP) is a manufacturer of toaster ovens. To improve control over operations, the president of AP wants to using a flexible budgeting system, rather than use only the current master budget. The following data are available for AP's expec costs at production levels of 80,000, 93,000, and 106,000 units. Variable costs Manufacturing Administrative Selling Fixed costs Manufacturing Administrative $6 per unit $4 per unit $1 per unit $148,000 $80,000

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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.