MANAGEMENT

Detailed explanation-1: -Begin by listing your fixed expenses. These are regular monthly bills such as rent or mortgage, utilities and car payments. Next list your variable expenses-those that may change from month to month, such as groceries, gas and entertainment. This is an area where you might find opportunities to cut back.

Detailed explanation-2: -Answer and Explanation: The sales budget should always be prepared first. The sales budget is an important component of the budgeting process and it indicates the forecast of units that will be sold in the period as well as the revenue to be earned from these sales.

Detailed explanation-3: -Rent. The first and biggest fixed expense to consider is your rent or mortgage payment. Not that your mortgage payment will also likely include your property taxes and home insurance, along with principal and interest on the loan.