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Describe activity-based budgeting

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Question: 1. Rockgate Company's July sales budget calls for sales of $400,000. The store expects to begin July with $40,000 of inventory and to end the month with $50,000 of inventory. Gross margin is typically 30% of sales. Determine the budgeted cost of merchandise purchases for July

2. Activity-based budgeting is a budget system based on expected activities.

(1) Describe activity-based budgeting, and explain its preparation of budgets.

(2) How does activity-based budgeting differ from traditional budgeting?

Reference no: EM131539171

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