The following forecast information relates to Athlone Restaurant. Sales covers forecast per month are estimated at 20,000. Average selling price per meal €12 Variable cost per meal €4 Foxed cost per month €120,000 Calculate: How many meals must be sold to achieve a profit of €10,000 per month? Make sure you insert a comma () to indicate thousands for example 10,000 Answer:
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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