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List and briefly identify each of the major budget forms that can be applied to advertising.

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This solution helps with problems involving major budget forms. It helps list and briefly identify each of the major budget forms that can be applied to advertising.

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Percentage of Sales or Profits
The most widely used method of establishing an advertising budget is to base it on a percentage of sales. Advertising is as much a business expense as, say, the cost of labor and, thus, should be related to the quantity of goods sold.

The percentage-of-sales method avoids some of the problems that result from using profits as a base. For instance, if profits in a period are low, it might not be the fault of sale or advertising. But if you stick with the same percentage figure, you will automatically reduce your advertising allotment. There's no way around it: two percent of $10 000 is less than two percent of $15 000.

Past sales
Your base can be last year's sales or an average of a number of years in the immediate past. Consider, though, that changes in economic conditions may cause your figures to ...

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