The purchasing manager should provide the projections for the sales budget (forecast ue sales budget. Participative budgeting means that lower level employees are primarily responsible A master budget usually provides information about plans and expectations for the hly responsible for preparing the budget. ectations for the upcoming 1 year period. The nature of planning changes with the length of time period being considered the more specific the plans. ng considered. Generally, the shorter the time period, Four purposes or reasons for budgeting involve planning, coordination, performance Wation, performance measurement and corrective action 9) Jasper Inc. budgeted the following transactions for June. The beginning cash balance wa have a $45,000 ending cash balance. the beginning cash balance was $70,000. The company desires to Sales (80% of this amount is expected to be collected in cash during June) Cash Operating Expenses Cash Purchases of Investments Cash Payment of Debt Depreciation on Operating Assets $200,000 120,000 60,000 10,000 12,000 Must have both of the answers below correct (dollar amount AND surplus or shortage answer) to receive any points: What is the amount of the cash surplus or shortage? (6 pts) Surplus OR Shortage (Circle one) Work Area (optional): 2 Page