Pharoah Company's master budget reflects budgeted sales information for the month of June, 2022 as follows: Product A Product B Product Line Product A Budgeted Quantity Product B 41,200 During June, the company actually sold 39,600 units of Product A at an average unit selling price of $7.10 and 50,800 units of Product B at an average unit price of $8.90. Total Sales 48,600 Prepare a Sales Budget Report for the month of June for Pharoah Company which shows whether the company achieved its planned objectives. Budgeted Unit Sales Price $ $7 $9 $ Budget PHAROAH COMPANY Sales Budget Report For the Month Ended June 30, 2022 $ $ Actual $ $ Difference Favorable (F) Unfavorable (U) Not Applicable (NA)
Pharoah Company's master budget reflects budgeted sales information for the month of June, 2022 as follows: Product A Product B Product Line Product A Budgeted Quantity Product B 41,200 During June, the company actually sold 39,600 units of Product A at an average unit selling price of $7.10 and 50,800 units of Product B at an average unit price of $8.90. Total Sales 48,600 Prepare a Sales Budget Report for the month of June for Pharoah Company which shows whether the company achieved its planned objectives. Budgeted Unit Sales Price $ $7 $9 $ Budget PHAROAH COMPANY Sales Budget Report For the Month Ended June 30, 2022 $ $ Actual $ $ Difference Favorable (F) Unfavorable (U) Not Applicable (NA)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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.
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Transcribed Image Text:Pharoah Company's master budget reflects budgeted sales information for the month of June, 2022 as follows:
Product A
Product B
Product Line
Product A
Budgeted
Quantity
Product B
41,200
During June, the company actually sold 39,600 units of Product A at an average unit selling price of $7.10 and 50,800 units of Product
B at an average unit price of $8.90.
Total Sales
48,600
Prepare a Sales Budget Report for the month of June for Pharoah Company which shows whether the company achieved its planned
objectives.
Budgeted Unit
Sales Price
$
$7
$9
$
Budget
PHAROAH COMPANY
Sales Budget Report
For the Month Ended June 30, 2022
$
$
Actual
$
$
Difference
Favorable (F)
Unfavorable (U)
Not Applicable (NA)
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