Explain the role of a sales forecast in budgeting. What is the difference between a sales forecast

Question:

Explain the role of a sales forecast in budgeting. What is the difference between a sales forecast and a sales budget?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Cornerstones of Managerial Accounting

ISBN: 978-0324660135

3rd Edition

Authors: Mowen, Hansen, Heitger

See More Books

Question Posted: Feb 04, 2012 12:55 AM

See More Questions

What is the difference between quantitative forecast methods and qualitative forecast methods?
What is the difference between the budget deficit and the national debt? What are the benefits of paying down the national debt? What might be the negative effects?
What is the difference between a capital budget and an operating budget?
The following set of dotplots with overlaid boxplots gives the number of pairs of flip-flops students said they owned for 13 males (top) and 37 females (bottom) in a statistics class. The five-number...
How does a corporation depreciate an asset received in a 351 transaction in which no gain or loss is recognized by the transferor of the property?
Using real-world examples, discuss the possible consequences of economic growth.
What are the characteristics of business domains? Explain them in the context of a specific business.
The following pension-related data pertain to Metro Recreation's noncontributory, defined benefit pension plan for 2011: Required: Prepare a pension spreadsheet that shows the relationships among the...
A new wave-soldering machine is expected to save Burnaby Circuit Boards $16,000 per year through reduced labour costs and increased quality. The device will have a life of nine years and will have no...
Throughout the present worth analyses, the decision between seawater and groundwater switched multiple times in Examples 5.2 and 5.4. A summary is given here in $1 million units. The confusion about...
What is a master budget? An operating budget? A financial budget?
All budgets depend on the sales budget. Is this true? Explain.
Each year, marketing firm J.d. Power and Associates surveys new car owners 90 days after they purchase their cars. These data are used to rate auto brands (Toyota, Ford, etc.) on quality and customer...
Buzz Lightyear Corporation manufactures replicators. On January 1, 2015, it leased to BoPeep Company a replicator that had cost 110,000 to manufacture. The lease agreement covers the 5-year useful...
On December 31, 2015, Shellhammer Co. sold 6-month-old equipment at fair value and leased it back. There was a loss on the sale. Shellhammer pays all insurance, maintenance, and taxes on the...
Assume that Lenovo (CHN) leased equipment that was carried at a cost of 150,000,000 to Sharon Swander Company. The term of the lease is 6 years beginning January 1, 2015, with equal rental payments...
To protect American jobs, the U.S. government may decide to cut U.S. imports of bulldozers by 60 percent. It could do so by either (a) imposing a tariff high enough to cut bulldozer imports by 60...
Suppose that the United States currently imports 1.0 million pairs of shoes from China at $$20$ each. With a 50 percent tariff, the consumer price in the United States is $$30$. The price of...
Table 3 provides data on the price of hot chocolate, the temperature, and the number of cups a week. Draw graphs to show the relationship between The price and the number of cups of hot chocolate,...
How will relating product contribution margin s to the amount of the constrained resource they consume help a company maximize its profits?
Find the indicated term in each expansion in Problems 2732. (x - 3)20; 3rd term
Costing systems in hospitals are like job-costing systems in many respects. Do you agree with this statement? Why or why not?
The only difference between job- and process costing systems relates to the size of the average batch for a product. True or False? Justify your response.
How does the use of predetermined overhead rates help with performance evaluation and cost control?
Athens Gas Station has figured out the weekly demand distribution for their gas sales. Each gallon of gas sold at the pump results in a profit of 10 cents/gallon and any lost sales results in a cost...
1. The maximum pressure an eardrum can withstand without rupturing is Pmax = 3.0102 Pa. Assume a sound is made at that pressure. If the density of air is, p=1.20 kg/m, and the speed of sound is 340...
52. A wave is sent down a string with a linear mass density of 1.600 x 10-4 kg/m. The wavefunction that describes this wave is: y(x,t) = (0.021 m)*sin{(2.00 rad/m)*x + (30.0 rad/s)*t} What is the...

Explain the role of a sales forecast in budgeting. What is the difference between a sales forecast

Question:

Step by Step Answer:

The sales forecast is a critical input for building the sales budget However it i...View the full answer

Cornerstones of Managerial Accounting

Students also viewed these Managerial Accounting questions