ABC Company's actual unit sales in the current year for January, February, and March were 16,500, 13,500, and 19,500 units, respectively. Current year selling price is $20. An analysis of general economic trends and specific initiatives at ABC forecasts increases for the coming budget year: sales volume by 10% and sales price by 5%. Required: Prepare ABC Company's budgeted unit sales and total sales volume for the first quarter of the coming year. Current sales (units) Budgeted volume increase Budgeted sales (units) Budgeted selling price Budgeted total sales January 0 % February 0 % $ March 0 % Total %

Also include the total of the six months

Atlanta Industries sales budget shows quarterly sales for the next year as follows: Quarter 1–10,000; Quarter 2–8,000; Quarter 3–12,000; Quarter 4–14,000. Company policy is to have a target finished-goods inventory at the end of each quarter equal to 20% of the next quarter’s sales. Budgeted production for the second quarter of next year would be:

A company's sales for the nine months to 30 September are $2.5m. The sales forecast for the next three months is $500,000 in total. The company's budgeted sales for the year are $3.4m The company's CEO has a meeting with the sales manager to discuss plans to close the gap between the forecast and the original budgeted sales for the next quarter. What is this process an example of? Feedback control An activity-based budget A rolling budget Feed-forward control

Champ, Inc., predicts the following sales in units for the coming two months. Each month’s ending inventory of finished units should be 70% of the next month’s sales. The April 30 finished goods inventory is 133 units.    May   June   Sales in units 190   220     Compute budgeted production (in units) for May.

Waterways Corporation is preparing its budget for the coming year, 2020. The first step is to plan for the first quarter of that coming year. The company has gathered information from its managers in preparation of the budgeting process. Sales     Unit sales for November 2019   111,000 Unit sales for December 2019   101,000 Expected unit sales for January 2020   113,000 Expected unit sales for February 2020   113,000 Expected unit sales for March 2020   118,000 Expected unit sales for April 2020   124,000 Expected unit sales for May 2020   137,000 Unit selling price   $12 Waterways likes to keep 10% of the next month’s unit sales in ending inventory. All sales are on account. 85% of the Accounts Receivable are collected in the month of sale, and 15% of the Accounts Receivable are collected in the month after sale. Accounts receivable on December 31, 2019, totaled $181,800.Direct MaterialsDirect materials cost 80 cents per pound. Two pounds of direct materials…

The Northeast Regional Division of Bridgeport Corp. has been requested to prepare a quarterly budgeted income statement for 2022. The regional manager expects that sales in the first quarter of 2022 will increase by 10% over the same quarter of the preceding year and will then increase by 5% for each succeeding quarter in 2022. The corporate head office has requested that the regional manager maintain an inventory in dollars equal to 20% of the next quarter's sales. Quarterly purchases average 55% of quarterly sales. Budgeted ending inventory on December 31, 2021 is $177,000. Quarterly salaries are $21,900 plus 5% of sales. All salaries are classified as sales salaries. Other quarterly expenses are estimated to be as follows: Rent expense   $24,500   Depreciation on office equipment   $12,700   Utilities expense   $4,500   Miscellaneous expenses   2% of sales   The income statement for the first quarter of 2021 was as follows: Income StatementFor the Quarter…

Preparing a Budgeted Income Statement Oliver Company provided the following information for the coming year: Units produced and sold 160,000 Cost of goods sold per unit $6.30 Selling price $12 Variable selling and administrative expenses per unit $1.10 Fixed selling and administrative expenses $423,000 Tax rate 28 % Required: Prepare a budgeted income statement for Oliver Company for the coming year. Round all income statement amounts to the nearest dollar. Oliver Company Budgeted Income Statement For the Coming Year Sales v Cost of goods sold v Gross margin Less: Variable selling and administrative expenses Less: Fixed selling and administrative expenses Operating income Less: Income taxes Net income v 24

Osprey Cycles, Inc. projected sales of 60,589 bicycles for the year. The estimated January 1 inventory is 6,049 units, and the desired December 31 inventory is 7,919 units. What is the budgeted production (in units) for the year?__________________

Heartland Company's budgeted sales and budgeted cost of goods sold for the coming year are $144,000,000 and $99,000,000, respectively. Short-term interest rates are expected to average 10%. If Heartland can increase inventory turnover from its present level of 9 times a year to a level of 12 times per year, compute its expected cost savings for the coming year.