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What is a budget?
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Name the 2 reasons budgets are needed
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What are sales budgets based upon?
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What is a production budget
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What is a labour budget?
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What is a variable budget?
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What happened when the actual results are more than the budget? Name 5 causes
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How do you work out sales?
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What is “overhead”?
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Give 6 potential budgeting problems
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What are categories in a budget and give 5 examples of categories in a business.
Name 6 internal constraints on a budget
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Name 5 external constraints on a budget.
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What is income and expense?
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Explain fixed overhead expenses and give three examples.
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Explain variable expenses and give 3 examples.
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