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York University (12,359)
ADMS 3510 (8)


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York University
Administrative Studies
ADMS 3510
Rebecca Jubis

The Budgeted Balance Sheet • The budgeted balance sheet is a projection of the company's financial position at the end of the budget period. • This budget is developed from the budgeted balance sheet for the preceding year and the budgets for the current year. • udgeting is not limited to manufacturers. • Budgets may also be used by merchandisers, service enterprises, and not-for- profit organizations. Merchandisers • The sales budget for a merchandiser is both the starting point and the key factor in the development of the master budget. • The major differences between the master budgets of a merchandiser and a manufacturer are the following: o A merchandiser uses a merchandise purchases budget instead of a production budget. • A merchandiser does not use the manufacturing budgets (direct materials, direct labour, and manufacturing overhead). • The merchandise purchases budget shows the estimated cost of goods to be purchased to meet expected sales. • Below is the formula for determining budgeted merchandise purchases. • When a merchandiser is organized by department, separate budgets are prepared for each one. • For example, a grocery store may start by preparing sales budgets and purchases budgets for each of
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