Coronado Enterprises is a boutique guitar manufacturer. The company produces both acoustic and electric guitars for rising and established professional musicians. Sharon Lee, the company’s sales manager, prepared the following sales forecast for 2022. The forecasted sales prices include a 5% increase in the acoustic guitar price and a 10% increase in the electric guitar price, to cover anticipated increases in raw materials prices. Sales Price 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Acoustic guitar sales $1,250 240 270 310 340 Electric guitar sales $2,100 400 350 320 360 (a) Prepare Coronado’s sales budget for 2022. Sales Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Annual Acoustic: select a sales budget item enter a number of units enter a number of units enter a number of units enter a number of units enter a number of units select a sales budget item $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount select a closing name for section one $enter a total amount for section one $enter a total amount for section one $enter a total amount for section one $enter a total amount for section one $enter a total amount for section one Electric: select a sales budget item enter a number of units enter a number of units enter a number of units enter a number of units enter a number of units select a sales budget item $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount select a closing name for section two $enter a total amount for section two $enter a total amount for section two $enter a total amount for section two $enter a total amount for section two $enter a total amount for section two Total revenue $enter a total amount $enter a total amount $enter a total

Coronado Enterprises is a boutique guitar manufacturer. The company produces both acoustic and electric guitars for rising and established professional musicians. Sharon Lee, the company’s sales manager, prepared the following sales forecast for 2022. The forecasted sales prices include a 5% increase in the acoustic guitar price and a 10% increase in the electric guitar price, to cover anticipated increases in raw materials prices. Sales Price 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Acoustic guitar sales $1,250 240 270 310 340 Electric guitar sales $2,100 400 350 320 360 (a) Prepare Coronado’s sales budget for 2022. Sales Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Annual Acoustic: select a sales budget item enter a number of units enter a number of units enter a number of units enter a number of units enter a number of units select a sales budget item $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount select a closing name for section one $enter a total amount for section one $enter a total amount for section one $enter a total amount for section one $enter a total amount for section one $enter a total amount for section one Electric: select a sales budget item enter a number of units enter a number of units enter a number of units enter a number of units enter a number of units select a sales budget item $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount select a closing name for section two $enter a total amount for section two $enter a total amount for section two $enter a total amount for section two $enter a total amount for section two $enter a total amount for section two Total revenue $enter a total amount $enter a total amount $enter a total

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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(a)

Prepare Coronado’s sales budget for 2022.

Sales Budget
	1^stQuarter	2^ndQuarter	3^rd Quarter	4^th Quarter	Annual
Acoustic:
select a sales budget item	enter a number of units	enter a number of units	enter a number of units	enter a number of units	enter a number of units
select a sales budget item	$enter a dollar amount	$enter a dollar amount	$enter a dollar amount	$enter a dollar amount	$enter a dollar amount
select a closing name for section one	$enter a total amount for section one	$enter a total amount for section one	$enter a total amount for section one	$enter a total amount for section one	$enter a total amount for section one
Electric:
select a sales budget item	enter a number of units	enter a number of units	enter a number of units	enter a number of units	enter a number of units
select a sales budget item	$enter a dollar amount	$enter a dollar amount	$enter a dollar amount	$enter a dollar amount	$enter a dollar amount
select a closing name for section two	$enter a total amount for section two	$enter a total amount for section two	$enter a total amount for section two	$enter a total amount for section two	$enter a total amount for section two
Total revenue	$enter a total amount	$enter a total amount	$enter a total amount	$enter a total amount	$enter a total amount

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	Sales Price	1^st Quarter		2^nd Quarter	3^rdQuarter	4^th Quarter
Acoustic guitar sales	$1,250		240		270		310	340
Electric guitar sales	$2,100		400		350		320	360