The following is a summary statement of budgeted and actual sales (for January) of ABC Products Budgeted (units) Actual (units) Budgeted selling price A 5,000 4,000 $ 40 B 4,000 3,200 50 C 1,000 800 100 10,000 8,000 Determine sales-mix variance.
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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