The seven-month demand for product X is as follows: 500; 6,000; 2,000; 1,500; 4,000; 5,500; and 6,500. You planned to use a level production rate of 4,000 unit per month. a. Determine the inventory level per month
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.
The seven-month demand for product X is as follows: 500; 6,000; 2,000; 1,500; 4,000; 5,500; and 6,500. You planned to use a level production rate of 4,000 unit per month.
a. Determine the inventory level per month.
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