Explore BrainMass
Share

Define numerous department budgets

This content was STOLEN from BrainMass.com - View the original, and get the already-completed solution here!

Directions: define each of the budgets listed and briefly describe its uses.

1.Sales budget
2.Production budget
3.Direct materials budget
4.Direct labor budget
5.Manufacturing overhead budget
6.Selling and administrative expense budget
7.Budgeted income statement
8.Cash budget

© BrainMass Inc. brainmass.com October 24, 2018, 11:41 pm ad1c9bdddf
https://brainmass.com/business/cash-budgeting/define-numerous-department-budgets-202225

Solution Preview

A budget is a financial expression of management decisions or plans for the future. Budgeting is primarily attention directing information. It is for information gathering, planning and control purposes.

A Sales budget is an operating plan for a period expressed in terms of sales volume and selling prices for each class of product or service. Preparation of a sales budget is the starting point in budgeting since sales volume influences nearly all other items. The Sales Manager is generally responsible for completing this task. The Sales budget is the most important budget when preparing the overall forecast for the entire organization.

Production budget includes a ...

Solution Summary

Defining each budget and its uses.

$2.19
See Also This Related BrainMass Solution

Budgeting

All enterprises must develop budgets and control systems for their finances, explain how a company would develop such systems, and outline how such systems can be used to evaluate and improve company performance.

View Full Posting Details