How could cost-volume-profit analysis be used in budgeting? In making a decision about advertising?

Q: Why might managers find a flexible-budget analysis more informative than a static-budget analysis?

A: Static Budget: Static budget is a fixed budget prepared for a particular period of time without…

Q: Why is the sales budget so important to the budgeting process?

A: Budget:   It is a statement of estimated revenues and expenditures set for a specific period of…

Q: What functional role do management accountants play in the budgeting process?

A: A budget is a type of financial plan that is used by managers to estimate revenues and expenses for…

Q: Evaluate the importance of standard costing in budgeting process within firms

A: In Standard costing an expected cost is substituted above an actual cost, while recording accounting…

Q: “Budgets meet the cost–benefit test. They force managers to act differently.” Do you agree? Explain.

A: A budget is a financial plan prepared by the company for a period. It is prepared to estimate the…

Q: BUDGETED SALES PRICE FORMULA Would you please show and explain the formula for finding the "Budgeted…

A: Budgeted sales price can be computed using two methods that include sales price variance and sales…

Q: What are the benefits of tying a budget to the overall goals of the company?

A: Budgeting is an important part of the business process. Without budgeting a business cannot track…

Q: What are the ethical provisions that needs to be followed in budgeting?

A: The process of allocating a company's financial resources is known as budgeting. Although necessity…

Q: Which budget is prepared first? Which budget is last? Multiple Choice Production Budget and Income…

A: Budget is prepared by the management on the basis of past experience. On the basis of the budget, It…

Q: Describe your understanding of budgets, both fixed and flexible, in the context of controlling and…

A: Organizations produce budgets for a variety of purposes, including cost control, performance…

Q: how budget process fits into management’s planning process?

A: Planning as well as budgeting are critical components of managerial control. Efficient planning and…

Q: What are the primary differences in budgeting between manufacturing and nonmanufacturing firms?

A: The primary difference between  a manufacturing firm and a non-manufacturing firm is that the…

Q: difference between a flexible budget and a static budget?

A: A budget can be defined as an estimation or forecast of the income, revenue, and expenses for a…

Q: What is a flexible budget? Explain how a flexible budgetincreases the usefulness of budgeting as a…

A: A flexible budget is a budget that can be easily adjusted to reflect the changes in the volume of…

Q: Sales are often considered to be the principal budget factor of an organisation. Explain the meaning…

A: Sales budget presents the expected sales volume and sales value for the coming period.

Q: When would a static budget be effective in evaluating a manager performance

A: We know that budgeting is a planning tool through with entities define a predefined target for…

Q: Discuss the factors that are likely to cause managers to submit budget estimates of sales and costs…

A: Budget: Budget is an effective tool to achieve the financial and operational goals of the business.…

Q: Explain how standard costs and flexible budgets can be used for short-term profit analysis—that…

A:

Q: balance criteria in budgeting?

A: while making balance criteria in budgeting i always follow these steps; Establish your budgetBefore…

Q: How flexible budget through performance reporting is help for the management in determination of…

A: Budgeting refers to preparation of  estimated financial data using the past records. Flexible budget…

Q: how budgeting is useful in managing businesses?

A: Budget: The forecast of transactions on the basis of the available resources for a particular period…

Q: measures will you provide to

A: To have quality recruits, a pool of candidates must be generated to allow for good selection…

Q: Is it really vital for a manufacturing company to prepare a budgeted income statement and balance…

A: A budgeted income statements statement that forecasts earnings, revenue, and expenses for the coming…

Q: How does budgeting help management coordinate and plan business activities?

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Q: What is Avery's budgeted cost of goods sold?

A:

Q: Explain the role of a sales forecast in budgeting. What is the difference between a sales fore-cast…

A: Budgeting is a method of determining how you will spend all your money. This spending plan is known…

Q: The following items are some of the tools and techniques used in management accounting. - Budgeting…

A: Management accounting is method to calculate and analyze the data in such a way that managers can…

Q: What does a flexible budget performance report do that a simple comparison of budgeted to actual…

A: Flexible budget performance report:   A tool used to compare the actual and budgeted results…

Q: Why should the production requirements set forth in the production budget be carefully coordinated…

A: The production requirements are efficiently coordinated with the sales budget to ensure smooth…

Q: Which of the following is a basic element of effective budgetary control?a. cost behavior patternsb.…

A: Budgeting is a process that involves estimation of total costs and revenues of a firm over a…

Q: Describe how non output-based cost drivers can be incorporated into budgeting.

A: Budgeting: The budgeting is a process of preparing budgets and the evaluation of it to see whether…

Q: Why might a manager prefer that budgeted rather than actual cost-allocation rates be used for costs…

A: Cost Allocation Cost Allocation is define as the process identifying, combining and assigning the…

Q: When developing a budget we focus first on sales. Why do be begin with sales? What are some of the…

A: Budgeting is the process of estimating the revenues, expenses and profitability of the business for…

Q: Explain the methods for setting the promotion budget and factors that affect the design of the…

A: The factors which affect promotion constitute a variety. They can either be product related ,…

Q: Explain the role of budget in management cycle?

A: Budget is the term which is defined as the financial plan for particular period, generally for one…

Q: Explained how the use of an activity-based costing system could change the results of the budget if…

A: Activity based costing is the type of costing in which the costs are estimated according to the…

Q: What are the difficulties that might face by management accountant in budgeting process?

A: The budgeting process is used in financial planning which includes setting goals and gathering data…

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.