Hathaway Inc. produces and sells golf umbrellas to local resorts. Hathaway anticipates April to be a busy month with the sale of 1000 umbrellas. The company has prepared the following static budget for April: Sales revenue (1000 units) $40000 Variable costs: Direct materials $5000 Direct labour $6000 Overhead $1500 Fixed costs $4000 Net income $23500 During April, Hathaway actually produced and sold 900 umbrellas. What should be Hathaway's net income in April based on a flexible budget? O $20 750 O $21 750 O None of the other alternatives $31 750

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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.