Creating a sales budget helps you determine your direct labor needs. The sales budget estimates your future sales based on the past sales. This information is used to develop your production budget.

Businesses evaluate their product costs on a regular basis. Understanding these costs helps the company to make pricing decisions and estimate its potential profits. Each year the company creates a ...

Every business, whether small or large, needs a way to track its expenses, revenue and profits. "Budgets are really important for both internal and external (reasons)," says Joseph Fahey, director of ...