FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Sales and Production Budgets
Sonic Inc. manufactures two models of speakers, Rumble and Thunder. Based on the following production and sales data for June, prepare (a) a sales budget and (b) a production budget:
Rumble | Thunder | ||
Estimated inventory (units), June 1 | 230 | 62 | |
Desired inventory (units), June 30 | 264 | 54 | |
Expected sales volume (units): | |||
Midwest Region | 2,700 | 3,000 | |
South Region | 4,850 | 4,200 | |
Unit sales price | $100 | $210 |
a. Prepare a sales budget.
Sonic Inc. | |||
Sales Budget | |||
For the Month Ending June 30 | |||
Product and Area | Unit Sales Volume | Unit Selling Price | Total Sales |
Model: Rumble | |||
Midwest Region | fill in the blank a0e081fc0f89004_1 | $fill in the blank a0e081fc0f89004_2 | $fill in the blank a0e081fc0f89004_3 |
South Region | fill in the blank a0e081fc0f89004_4 | fill in the blank a0e081fc0f89004_5 | fill in the blank a0e081fc0f89004_6 |
Total | fill in the blank a0e081fc0f89004_7 | $fill in the blank a0e081fc0f89004_8 | |
Model: Thunder | |||
Midwest Region | fill in the blank a0e081fc0f89004_9 | $fill in the blank a0e081fc0f89004_10 | $fill in the blank a0e081fc0f89004_11 |
South Region | fill in the blank a0e081fc0f89004_12 | fill in the blank a0e081fc0f89004_13 | fill in the blank a0e081fc0f89004_14 |
Total | fill in the blank a0e081fc0f89004_15 | $fill in the blank a0e081fc0f89004_16 | |
Total revenue from sales | $fill in the blank a0e081fc0f89004_17 |
Once sales quantities are estimated, the expected sales revenue can be determined.
Learning Objective 4.
b. Prepare a production budget. For those boxes in which you must enter subtracted or negative numbers use a minus sign.
Sonic Inc. | ||
Production Budget | ||
For the Month Ending June 30 | ||
Units Rumble | Units Thunder | |
Expected units to be sold | fill in the blank aa3ef50d0fa9fc4_2 | fill in the blank aa3ef50d0fa9fc4_3 |
Desired inventory, June 30 | fill in the blank aa3ef50d0fa9fc4_5 | fill in the blank aa3ef50d0fa9fc4_6 |
Total | fill in the blank aa3ef50d0fa9fc4_7 | fill in the blank aa3ef50d0fa9fc4_8 |
Estimated inventory, June 1 | fill in the blank aa3ef50d0fa9fc4_10 | fill in the blank aa3ef50d0fa9fc4_11 |
Total units to be produced | fill in the blank aa3ef50d0fa9fc4_12 | fill in the blank aa3ef50d0fa9fc4_13 |
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution
Trending nowThis is a popular solution!
Step by stepSolved in 3 steps with 3 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- Prepare the raw material purchases budget (in quantities) for 20x0.arrow_forwardHow do I prepare the selling and administrative expense budget for the quarter ended March 31, 20X1?arrow_forwardSales and Production Budgets Ultimate Audio Company manufactures two models of speakers, U500 and S1000. Based on the following production and sales data for June. U500 S1000 Estimated inventory (units), June 1 265 66 Desired inventory (units), June 30 305 57 Expected sales volume (units): Northeast Region 3,100 2,750 Southwest Region 5,600 4,850 Unit sales price $120 $205 a. Prepare a sales budget. Enter all amounts as positive numbers. ULTIMATE AUDIO COMPANY Sales Budget For the Month Ending June 30 Product and Area Unit Sales Volume Unit Sales Price Total Sales Model U500: Northeast Region $ $ Southwest Region Total $ Model S1000: Northeast Region $ $ Southwest Region Total $ Total revenue from sales $ b. Prepare a production budget. Enter all amounts as positive numbers. ULTIMATE AUDIO COMPANY Production Budget For the Month Ending June 30…arrow_forward
- Sales and Production Budgets Sonic Inc. manufactures two models of speakers, Rumble and Thunder. Based on the following production and sales data for June, prepare (a) a sales budget and (b) a production budget: Rumble Thunder Estimated inventory (units), June 1 305 76 Desired inventory (units), June 30 350 66 Expected sales volume (units): Midwest Region 4,300 3,800 South Region 5,700 4,950 Unit sales price $135 $215 a. Prepare a sales budget. Sonic Inc. Sales Budget For the Month Ending June 30 Product and Area Unit Sales Volume Unit Selling Price Total Sales Model: Rumble Midwest Region South Region Total Model: Thunder Midwest Region South Region Total Total revenue from sales b. Prepare a production budget. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Sonic Inc. Production Budget For the Month Ending June 30 Units Rumble Units Thunder Total units available Total units to be produced %24arrow_forwardSales and Production Budgets Sonic Inc. manufactures two models of speakers, Rumble and Thunder. Based on the following production and sales data for June, prepare (a) a sales budget and (b) a production budget: Estimated inventory (units), June 1 Desired inventory (units), June 30 Expected sales volume (units): Midwest Region South Region Unit sales price a. Prepare a sales budget. Midwest Region South Region Total Model: Thunder Midwest Region South Region Sonic Inc. Sales Budget For the Month Ending June 30 Product and Area Unit Sales Volume Unit Selling Price Total Sales Model: Rumble Total Total revenue from sales Rumble Thunder $ Total units available Total units to be produced 258 296 3,450 5,000 $115 Sonic Inc. Production Budget For the Month Ending June 30 75 65 b. Prepare a production budget. For those boxes in which you must enter subtracted or negative numbers use a minus sign. 3,050 5,650 $225 Units Rumble Units Thunder $arrow_forwardSales and Production Budgets Sonic Inc. manufactures two models of speakers, Rumble and Thunder. Based on the following production and sales data for June, prepare (a) a sales budget and (b) a production budget: Rumble Thunder Estimated inventory (units), June 1 236 64 Desired inventory (units), June 30 271 56 Expected sales volume (units): Midwest Region 2,650 2,950 South Region 5,100 4,450 Unit sales price $125 $205 a. Prepare a sales budget. Sonic Inc. Sales Budget For the Month Ending June 30 Product and Area Unit Sales Volume Unit Selling Price Total Sales Model: Rumble Midwest Region $ $ South Region Total $ Model: Thunder Midwest Region $ $ South Region Total $ Total revenue from sales $ b. Prepare a production budget. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Sonic Inc. Production Budget For the…arrow_forward
- Please do not give solution in image format thankuarrow_forwardProduction Budget Healthy Measures Inc. produces a Bath and Gym version of its popular electronic scale. The anticipated unit sales for the scales by sales region are as follows: Bath Scale Gym Scale Northern Region unit sales 26,900 37,000 Southern Region unit sales 29,100 30,600 Total 56,000 67,600 The finished goods inventory estimated for March 1, for the Bath and Gym scale models is 1,300 and 2,200 units, respectively. The desired finished goods inventory for March 31 for the Bath and Gym scale models is 900 and 2,400 units, respectively. Prepare a production budget for the Bath and Gym scales for the month ended March 31. For those boxes in which you must enter subtracted or negative numbers use a minus sign.arrow_forwardVibrant Inc. manufactures two models of speakers, Rumble and Thunder. Based on the following production and sales data for June, prepare (a) a sales budget and (b) a production budget: Rumble Thunder Estimated inventory (units), June 1 Desired inventory 250 75 287 65 (units), June 30 Expected sales volume (units): North Region 2,400 2,100 South Region 5,800 6,550 Unit sales price $125 $225 a. Prepare a sales budget. Vibrant Inc. Sales Budget For the Month Ending June 30 Unit Sales Selling Volume Price Unit Total Sales Product and Area Model Rumble: North Region South Region Total Model Thunder: North Region South Region Total Total revenue from salesarrow_forward
- Production budget Healthy Habits Inc. produces a Bath version and a Gym version of its popular electronic scale. The anticipated unit sales for the scales by sales region are as follows: Bath Gym Scale Scale Western Region unit sales 19,000 35,000 Eastern Region unit sales 20,500 21,500 Total 39,500 56,500 The finished goods inventory estimated for January 1, for the Bath and Gym scale models is 1,300 and 2,600 units, respectively. The desired finished goods inventory for January 31 for the Bath and Gym scale models is 900 and 2,800 units, respectively. Prepare a production budget for the Bath and Gym scales for the month ended January 31. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Healthy Habits Inc. Production Budget For the Month Ending January 31 Line Item Description Units Bath Scale Units Gym Scale Total units available Total units to be producedarrow_forwardPlease do not give solution in image format thankuarrow_forwardPlease do not give solution in image format thankuarrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- AccountingAccountingISBN:9781337272094Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.Publisher:Cengage Learning,Accounting Information SystemsAccountingISBN:9781337619202Author:Hall, James A.Publisher:Cengage Learning,
- Horngren's Cost Accounting: A Managerial Emphasis...AccountingISBN:9780134475585Author:Srikant M. Datar, Madhav V. RajanPublisher:PEARSONIntermediate AccountingAccountingISBN:9781259722660Author:J. David Spiceland, Mark W. Nelson, Wayne M ThomasPublisher:McGraw-Hill EducationFinancial and Managerial AccountingAccountingISBN:9781259726705Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting PrinciplesPublisher:McGraw-Hill Education
Accounting
Accounting
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:Cengage Learning,
Accounting Information Systems
Accounting
ISBN:9781337619202
Author:Hall, James A.
Publisher:Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis...
Accounting
ISBN:9780134475585
Author:Srikant M. Datar, Madhav V. Rajan
Publisher:PEARSON
Intermediate Accounting
Accounting
ISBN:9781259722660
Author:J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:9781259726705
Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:McGraw-Hill Education