ProductXQ-103XQ-104TotalsUnitsQuarter 1Selling PriceTotal SalesUnitsSales BudgetQuarter 2Selling PriceTotal SalesUnitsSix MonthsSelling PriceTotal Sales Crane Electronics Inc. produces and sells two models of calculators, XQ-103 and XQ-104. The calculators sell for $15 and $25, respectively. Because of the intense competition Edington faces, management budgets salessemiannually. Its projections for the first 2 quarters of 2022 are as follows.Unit SalesProduct Quarter 1XQ-103XQ-10421,20012,720Quarter 223,32015,900No changes in selling prices are anticipated.Prepare a sales budget for the 2 quarters ending June 30, 2022. List the products and show for each quarter and for the 6 months, units, selling price, and total sales by product and in total.

Sales Budget :— This budget is prepared to estimate the total budgeted sales value. Total Sales…

Answered: Crane Electronics Inc. produces and…

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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E9-2 Edington Electronics Inc. produces and sells two models of pocket calculators, XQ- 103 and XQ-104. The calculators sell for $15 and $25, respectively. Because of the intense competition Edington faces, management budgets sales semiannually. Its projections for the first 2 quarters of 2014 are as follows. Unit Sales Product Quarter 1 Quarter 2 ХО-103 хо-104 20,000 12,000 22,000 15,000 No changes in selling prices are anticipated. Instructions Prepare a sales budget for the 2 quarters ending June 30, 2014. List the products and show for each quarter and for the 6 months, units, selling price, and total sales by product and in total.
Violet Sales Corp, reports the year-end information from 2023 as follows: Sales (35,500 units) $284,000 Cost of goods sold 105,000 Gross margin 179,000 Operating expenses 152,000 Operating income $27,000 Violet is developing the 2024 budget. In 2024 the company would like to increase selling prices by 3.5%, and as a result expects a decrease in sales volume of 14%. All other operating expenses are expected to remain constant. Assume that cost of goods sold is a variable cost and that operating expenses are a fixed cost. What is budgeted sales for 2024?
Two products DH1 and DH2are manufactured in a department. Sales for the year 2022 were planned as follows: Product Quarter 1 Quarter 2 Quarter 3 Quarter 4 DH1 9000 12000 14000 16000 DH2 7000 9000 1000 12000 Selling prices in Quarter 1 were estimated as OMR 20 per unit for DH1 and OMR 30 for DH2 respectively. Average sales return are 10% of Sales. According to these estimates, which of the following is estimated Sales (OMR) in Quarter 4 for Product DH1? Select one: a. 394129 b. 389253 c. 383328 d. 366000
Two products X and Z are manufactured in a department. Sales for the year 2022 were planned as follows: Product Quarter 1 Quarter 2 Quarter 3 Quarter 4 8000 10000 11000 14000 6000 8000 7500 5500 Selling prices in Quarter 1 were estimated as OMR 20 per unit for X and OMR 30 for Z respectively. Average sales return are 5% of Sales and 10% decrease in selling price in each quarter compared to previous one. According to these estimates, which of the following is estimated Sales (OMR) in Quarter 4 for Product X? Select one: O a. 185600 O b. 266000 O c. 193914 O d. 159600
Sanchez, Incorporated, is considering a change in its cash-only sales policy. The new terms of sale would be net one month. The required return is 1.7 percent per month. Current Policy New Policy Price per unit $ 700 $ 700 Cost per unit $ 420 $ 420 Unit sales per month 1,120 1,220 Based on the above information, determine the NPV of the new policy.
Divine Electronics Ltd. manufactures a line of headphones. Sales are increasing, and management is concerned that the company may not have sufficient capacity to meet the expected demand for the coming year. The following data are available for planning purposes: Product Estimated Demand Next Year Selling Price Direct Materials Direct Labour 1 Wire 78,000 $25.00 $7.30 $5.00 2 Wire 75,000 20.00 10.20 3.20 3 Wire 115,000 17.50 2.80 5.00 The following additional information is available: 1. With the strong competition, the company feels that it can't increase its selling prices above those indicated 2. The direct labour rate is $10 per hour; this rate is expected to remain unchanged during the coming year. 3. Fixed manufacturing costs total $640,000 per year. Variable manufacturing overhead costs are equal to 25% of the direct labour costs. 4. The company's plant has a capacity of 110,000 direct labour-hours per…
A store sells a product that has the annual demand of 16,156 units. It purchases the product from supplier A for $74.4 per unit. The unit inventory carrying cost per year is 14 percent of the unit purchase cost. The cost to place and process an order from the supplier is $107 per order. Supplier A has a delivery lead time of 7 days. The store operates 300 days a year. Assume EOQ model is appropriate. What is the optimal total annual inventory and purchase cost for the store? Use at least 4 decimal places.
Filmore Enterprises reports the year-end information from December 31, 2023 as follows: Sales (90,000 units) $1,170,000 Cost of goods sold $409,500 Gross margin $760,500 Operating expenses $620,100 Operating income $140,400 Filmore Enterprises is developing the next twelve- month budget. In January 2024, the company would like to increase selling prices by 3%. As a result, it is expected there will be a decrease in sales volume of 7%. All other operating expenses are expected to remain constant. Assume that COGS is a variable cost and that operating expenses are a fixed cost. Do not enter dollar signs or commas in the input boxes. Round all answers to the nearest whole number. What is the budgeted operating income for the year? Budgeted Sales $Answer Budgeted cost of goods sold $Answer Budgeted gross margin $Answer Operating expenses $Answer Budgeted operating income $Answer
The Sonia Company has two product lines, high-speed printers and electronic typewriters. The company's market research department prepared the following sales forecast for the coming year, 2021. Electronic Typewriters High-speed Printers 40,000 Industry's total sales forecast Company's share in the market Sales price per unit 170,000 10% 25% P3,000 P5,000 The sales force submitted the following estimates: Electronic Typewriters High-speed Printers Luzon 3,600 2,400 Visayas 8,400 6,000 Mindanao 3,000 3,600 Total 15,000 12,000 To establish an acceptable forecast, the budget director averages the two estimates. The resulting forecast is then broken down by territories in the same ratio as reflected in the estimates of the sales forecast. REQUIRED: 1. Prepare a sales budget by sales territory and by product lines for the year 2021. Use the following format: Sonia Company Sales Budget For the Year Ending Dec. 31, 2021 Electronic Typewriters High-speed Printers Units Amount Units Amount…
Disk City, Inc. is a retailer for digital video disks. The projected net income for the current year is $1,760,000 based on a sales volume of 260,000 video disks. Disk City has been selling the disks for $19 each. The variable costs consist of the $8 unit purchase price of the disks and a handling cost of $2 per disk. Disk City’s annual fixed costs are $580,000. Management is planning for the coming year, when it expects that the unit purchase price of the video disks will increase 30 percent. (Ignore income taxes.) Q. What volume of sales (in dollars) must Disk City achieve in the coming year to maintain the same net income as projected for the current year if the unit selling price remains at $19? (Do not round intermediate calculations. Round your final answer to the nearest whole number.)
The S&OP team at Kansas Furniture has received the following estimates of demand requirements: Month Expected Demand Jul 1,000 Aug 1,200 Sep 1,400 Oct 1,800 Nov 1,800 Dec 1,800 Assuming one-time stockout costs for lost sales of $100 per unit, inventory carrying costs of $20 per unit per month, and subcontracting cost of $45 per unit. Evaluate the following plan: keep the current workforce steady at a level producing 1,300 units per month. Subcontract the remainder to meet demand. Assume that 300 units remaining from June are available in July. A) What is the total inventory carrying cost? B) What is the total subcontracting cost? C) What is the stockout cost?
Edward Food Processing Company is a wholesale distributor of biscuits in Holborn. The Company has achieved steady growth over the past few years while Biscuit prices have been on the increase. The Company is planning its budget for the next financial year. Presented below are the data used to project the current year’s after- tax income of $110,400. £ Average Sales Price per Box 4.00 Average variable costs per Box Cost of Biscuits 2.00Profit on sale 0.40 Total 2.40 Annual fixed cost Selling 160,000 Administrative 280,000 Total 440.000 Expected annual sales volume (390,000 boxes) $1,560,000 Tax rate…

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