Prepare a 2006 master budget based on the 2003-2005 actual performances for a presentation about meeting company goals. Communicate your assumptions and calculations that went into the preparation.
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Prepare a 2006 master budget based on the 2003-2005 actual performances for a presentation about meeting company goals. Communicate your assumptions and calculations that went into the preparation.
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Solution Summary
The master budget is prepared and three paragraphs of discussion are included along with Excel file.
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The most likely case scenario is based on the numbers of the years 2003-2005. As we can notice, the numbers in the master budget are higher than those of actual year 2005. The reason is that it's always a good idea to add to most probable numbers a bit when budgeting. The reason is when the result is achieved, even if it's lower than budget numbers, most likely it's going to be higher than probable numbers were.
We assume that the growth in the numbers will continue. That is number of gallons will increase (by about the same amount as in year 2003-2004). We can do that without fearing the market saturation ...
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