What are the elements of budgets and estimates? Explain each of the elements.

Budgets are actually cost estimates tied to detailed distribution of revenues. Dissimilar conservative monetary statements, revenue and defeat and cash flow statements, there is not a standardized format for a marketing budget, and yet, a budget is required to have a successful marketing plan. Budgets are actually consequent by entering hours, and labor rates (escalated over time), and non-labor dollars into a worksheet. The indirect cost burdens are calculated based on the rates, applied by individual Cost Element. The WBS budgets and estimates are aggregated over all direct and indirect Cost Elements and Performing Organizations, for the specified time periods.