Coca-Cola Company prepares a master budget for its beverage operations. In April 2039, the company estimates the following:

• Projected Revenue: $2,000,000,000
• Direct Costs: $1,200,000,000
• Overhead Costs: $500,000,000

Requirements:

• Prepare a master budget including budgeted income statement, balance sheet, and cash flow statement.
• Perform a sensitivity analysis for changes in projected revenue.
• Prepare a forecast for the next fiscal year.
• Recommend budgetary control measures.
• Discuss the importance of budgeting in achieving financial goals.