Melissa - Week 7 Checkpoint - Budgets Matrix

Melissa - Week 7 Checkpoint - Budgets Matrix - Melissa...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Melissa Checkpoint – Budget Matrix Axia College Material Appendix C Budgets Matrix Directions : Using the matrix, define each of the budgets listed and briefly describe its uses. Budget Definition Describe its uses Sales budget The Sales budget is management’s best estimate of sales revenue for the period. The budget is prepared by multiplying the expected unit sales by its anticipated unit selling price. All of the other budgets depend on the sales budget and it is the starting point for the master budget. This budget is used to prepare the Production budget. Production budget The Production budget shows the units that must be produced to meet expected sales. Production is determined by using this formula budgeted sales units + desired ending finished goods units – beginning finished goods units = required production units. This budget is used to determine how much ending inventory to maintain. The production budget is also used to
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 09/06/2010 for the course ACC 220 acc-220 taught by Professor Unknown during the Spring '10 term at University of Phoenix.

Page1 / 3

Melissa - Week 7 Checkpoint - Budgets Matrix - Melissa...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online