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 1 276 81 Desired inventory (units), June 30 317 70 Expected sales volume (units): Midwest Region 3,600 3,150 South Region 5,450 6,150 Unit sales price $115 $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 fill in the blank 931981002034fb4_1 $fill in the blank 931981002034fb4_2 $fill in the blank 931981002034fb4_3 South Region fill in the blank 931981002034fb4_4 fill in the blank 931981002034fb4_5 fill in the blank 931981002034fb4_6 Total fill in the blank 931981002034fb4_7 $fill in the blank 931981002034fb4_8 Model: Thunder Midwest Region fill in the blank 931981002034fb4_9 $fill in the blank 931981002034fb4_10 $fill in the blank 931981002034fb4_11 South Region fill in the blank 931981002034fb4_12 fill in the blank 931981002034fb4_13 fill in the blank 931981002034fb4_14 Total fill in the blank 931981002034fb4_15 $fill in the blank 931981002034fb4_16 Total revenue from sales $fill in the blank 931981002034fb4_17 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 fill in the blank 0c0784008fed075_2 fill in the blank 0c0784008fed075_3 fill in the blank 0c0784008fed075_5 fill in the blank 0c0784008fed075_6 Total fill in the blank 0c0784008fed075_7 fill in the blank 0c0784008fed075_8 fill in the blank 0c0784008fed075_10 fill in the blank 0c0784008fed075_11 Total units to be produced fill in the blank 0c0784008fed075_12 fill in the blank 0c0784008fed075_13
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 1 276 81 Desired inventory (units), June 30 317 70 Expected sales volume (units): Midwest Region 3,600 3,150 South Region 5,450 6,150 Unit sales price $115 $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 fill in the blank 931981002034fb4_1 $fill in the blank 931981002034fb4_2 $fill in the blank 931981002034fb4_3 South Region fill in the blank 931981002034fb4_4 fill in the blank 931981002034fb4_5 fill in the blank 931981002034fb4_6 Total fill in the blank 931981002034fb4_7 $fill in the blank 931981002034fb4_8 Model: Thunder Midwest Region fill in the blank 931981002034fb4_9 $fill in the blank 931981002034fb4_10 $fill in the blank 931981002034fb4_11 South Region fill in the blank 931981002034fb4_12 fill in the blank 931981002034fb4_13 fill in the blank 931981002034fb4_14 Total fill in the blank 931981002034fb4_15 $fill in the blank 931981002034fb4_16 Total revenue from sales $fill in the blank 931981002034fb4_17 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 fill in the blank 0c0784008fed075_2 fill in the blank 0c0784008fed075_3 fill in the blank 0c0784008fed075_5 fill in the blank 0c0784008fed075_6 Total fill in the blank 0c0784008fed075_7 fill in the blank 0c0784008fed075_8 fill in the blank 0c0784008fed075_10 fill in the blank 0c0784008fed075_11 Total units to be produced fill in the blank 0c0784008fed075_12 fill in the blank 0c0784008fed075_13
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Concept explainers
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.
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 | 276 | 81 | |
| Desired inventory (units), June 30 | 317 | 70 | |
| Expected sales volume (units): | |||
| Midwest Region | 3,600 | 3,150 | |
| South Region | 5,450 | 6,150 | |
| Unit sales price | $115 | $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 | fill in the blank 931981002034fb4_1 | $fill in the blank 931981002034fb4_2 | $fill in the blank 931981002034fb4_3 |
| South Region | fill in the blank 931981002034fb4_4 | fill in the blank 931981002034fb4_5 | fill in the blank 931981002034fb4_6 |
| Total | fill in the blank 931981002034fb4_7 | $fill in the blank 931981002034fb4_8 | |
| Model: Thunder | |||
| Midwest Region | fill in the blank 931981002034fb4_9 | $fill in the blank 931981002034fb4_10 | $fill in the blank 931981002034fb4_11 |
| South Region | fill in the blank 931981002034fb4_12 | fill in the blank 931981002034fb4_13 | fill in the blank 931981002034fb4_14 |
| Total | fill in the blank 931981002034fb4_15 | $fill in the blank 931981002034fb4_16 | |
| Total revenue from sales | $fill in the blank 931981002034fb4_17 |
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 | |
| fill in the blank 0c0784008fed075_2 | fill in the blank 0c0784008fed075_3 | |
| fill in the blank 0c0784008fed075_5 | fill in the blank 0c0784008fed075_6 | |
| Total | fill in the blank 0c0784008fed075_7 | fill in the blank 0c0784008fed075_8 |
| fill in the blank 0c0784008fed075_10 | fill in the blank 0c0784008fed075_11 | |
| Total units to be produced | fill in the blank 0c0784008fed075_12 | fill in the blank 0c0784008fed075_13 |
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