Perez Company, which expects to start operations on January 1, year 2, will sell digital cameras in shopping malls. Perez has budgete sales as indicated in the following table. The company expects a 14 percent increase in sales per month for February and March. The ratio of cash sales to sales on account will remain stable from January through March. Required a. Complete the sales budget by filling in the missing amounts. b. Determine the amount of sales revenue Perez will report on its first quarter pro forma income statement. Complete this question by entering your answers in the tabs below.
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
Complete part a and b please and thank you
![Perez Company, which expects to start operations on January 1, year 2, will sell digital cameras in shopping malls. Perez has budgeted
sales as indicated in the following table. The company expects a 14 percent increase in sales per month for February and March. The
ratio of cash sales to sales on account will remain stable from January through March.
Required
a. Complete the sales budget by filling in the missing amounts.
b. Determine the amount of sales revenue Perez will report on its first quarter pro forma income statement.
M
Complete this question by entering your answers in the tabs below.
Required A Required B
Complete the sales budget by filling in the missing amounts.
Note: Do not round intermediate calculations. Round final answers to two decimal places.
Sales
Cash sales
Sales on account
Total budgeted sales
January
38,000
111,000
$ 149,000
$
February
Required A
March
Prey
Required B >
1 of 5
Next >](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F84750ce8-9775-44b3-8949-71118a85823f%2Fd1e42277-9834-40f3-b75d-769f97c74fda%2Fgdd9pn_processed.jpeg&w=3840&q=75)
![](/static/compass_v2/shared-icons/check-mark.png)
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
it say march column is incorrect and so is part 2 the total sales revenue
![Cornerstones of Cost Management (Cornerstones Ser…](https://www.bartleby.com/isbn_cover_images/9781305970663/9781305970663_smallCoverImage.gif)
![EBK CONTEMPORARY FINANCIAL MANAGEMENT](https://www.bartleby.com/isbn_cover_images/9781337514835/9781337514835_smallCoverImage.jpg)
![Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781337912020/9781337912020_smallCoverImage.jpg)
![Cornerstones of Cost Management (Cornerstones Ser…](https://www.bartleby.com/isbn_cover_images/9781305970663/9781305970663_smallCoverImage.gif)
![EBK CONTEMPORARY FINANCIAL MANAGEMENT](https://www.bartleby.com/isbn_cover_images/9781337514835/9781337514835_smallCoverImage.jpg)
![Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781337912020/9781337912020_smallCoverImage.jpg)
![Managerial Accounting: The Cornerstone of Busines…](https://www.bartleby.com/isbn_cover_images/9781337115773/9781337115773_smallCoverImage.gif)
![Financial And Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781337902663/9781337902663_smallCoverImage.jpg)