Explain the role of a sales forecast in budgeting. What is the difference between a sales fore-cast
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (15 reviews)
The sales forecast is a critical input for building the sales budget However it i...View the full answer
Answered By
Carly Cimino
As a tutor, my focus is to help communicate and break down difficult concepts in a way that allows students greater accessibility and comprehension to their course material. I love helping others develop a sense of personal confidence and curiosity, and I'm looking forward to the chance to interact and work with you professionally and better your academic grades.
4.30+
12+ Reviews
21+ Question Solved
Related Book For
Cornerstones of Financial and Managerial Accounting
ISBN: 978-1111879044
2nd edition
Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen
Question Posted:
Students also viewed these Managerial Accounting questions
-
All budgets depend on the sales budget. Is this true? Explain.
-
Patrick Inc. makes industrial solvents sold in five- gallon drums. Planned production in units for the first three months of the coming year is: January ...........43,800 February .........41,000...
-
Kailua and Company is a legal services firm. All sales of legal services are billed to the client (there are no cash sales). Kailua expects that, on average, 20 percent will be paid in the month of...
-
The time it takes to get a cars oil changed at Speedy Lube is distributed normally with a mean of 12 min and a standard deviation of 2 min. Compute the probability that a customer will have her or...
-
Exports from the USA comprise about 11 percent of GDP, compared to about 35 percent of Germanys GDP. What are implications of this for American firms doing business globally?
-
Oceanographers use submerged sonar systems, towed by a cable from a ship, to map the ocean floor. In addition to their downward weight, there are buoyant forces and forces from the flowing water that...
-
If you reach for a sweetened carbonated beverage, do you refer to it as soda, pop, coke, or a soft drink? Different regions of the United States use different terms, as shown in this heat map:...
-
Refer to Case 2-1 above. Mr. Pitt has relented and agrees to provide you with the information necessary to convert his cash basis financial statements to accrual basis statements. He provides you...
-
1. The returns on the common stock of New Image Products are quite cyclical. In a boom economy, the stock is expected to return 32 percent in comparison to 14 percent in a normal economy and a...
-
The box plot below shows the amount spent for books and supplies per year by students at four year public colleges. a. Estimate the median amount spent. b. Estimate the first and third quartiles for...
-
What is a master budget? An operating budget? A financial budget?
-
Multiple-Choice Questions 1. A budget a. Is a long-term plan. b. Covers at least two years. c. Is only a control tool. d. Is a short-term financial plan. e. Is necessary only for large firms. 2....
-
Limiting discharge rates for Venturi meters. (a) Starting with Eq. 15.5-34 (for adiabatic flow), show that as the throat pressure in a Venturi meter is reduced, the mass rate of flow reaches a...
-
If $55 per share was good enough for Van Gorkom, who held 75,000 shares, why was it not good enough for the rest of the shareholders? Did Van Gorkom's interests or goals differ from those of a...
-
In your own words, explain the concept of 'organisational control'. What are 'control systems' and why do we need them? Make use of Flamholtz's 1996 framework. 2. Browse the 2023 Netflix annual...
-
The directors of Precision Constructions Ltd (PC), a renowned construction company in Melbourne, have been negotiating with Elite Build Solutions Ltd (ES), a building company in New Zealand. The...
-
The company accrues interest expenses at the end of an accounting period. This is an application of the?
-
About how long did it take for your transactions to get accepted into a new block? Why do you think it took that long? Is there anything you could have done to speed it up if you wanted? Would you...
-
In Exercises 2334, write a formula for the general term (the nth term) of each arithmetic sequence. Do not use a recursion formula. Then use the formula for a n to find a 20 , the 20th term of the...
-
On 1 July 2018, Parent Ltd acquired all the shares of Son Ltd, on a cum-div. basis, for $2,057,000. At this date, the equity of Son Ltd consisted of: $ 1,000,000 Share capital 500 000 shares...
-
Gantry Manufacturing is a medium-sized organization with manufacturing facilities in seven locations around the southwestern United States. Of these facilities, Galveston and Amarillo are treated as...
-
Elaine Shumate has been working for GSM, a pharmaceutical research company, for more than seven years. It is her first job since finishing her graduate work in molecular biology, and her performance...
-
Discuss the impact of accounting information systems (AIS) on decentralization.
-
How do the local electronic and printing advertisements apply in the real ground? What are the most accepted brand names? What are the good qualities and demerits of the brand?
-
Gary and Linda assume they will need $70,000 at the beginning of each year in today's dollars when they retire in 6 years. The couple is assuming an annual inflation rate of 4% and a 7.5% after-tax...
-
What motivates you to succeed in your work or personal endeavors?Can you provide an example from your past experiences where you successfully turned a setback into a motivation to achieve a goal?
Study smarter with the SolutionInn App