Edington Electronics Inc. produces and sells two models of pocket calculators, XQ-103 and XQ-104. The calculators sell for $14 and $25, respectively. Because of the intense competition Edington faces, management budgets sales semiannually. Its projections for the first 2 quarters of 2020 are as follows. Unit Sales Product Quarter 1 Quarter 2 XQ-103 XQ-104 Product XQ-103 XQ-104 21,430 No changes in selling prices are anticipated. Prepare a sales budget for the 2 quarters ending June 30, 2020. List the products and show for each quarter and for the 6 months, units, selling price, and total sales by product and in total. Totals 14,240 27,390 17,330 eTextbook and Media Units $ Quarter 1 Selling Price $ Total Sales
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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![Edington Electronics Inc. produces and sells two models of pocket calculators, XQ-103 and XQ-104. The calculators sell
for $14 and $25, respectively. Because of the intense competition Edington faces, management budgets sales
semiannually. Its projections for the first 2 quarters of 2020 are as follows.
Unit Sales
Product Quarter 1 Quarter 2
XQ-103
XQ-104
Product
No changes in selling prices are anticipated.
Prepare a sales budget for the 2 quarters ending June 30, 2020. List the products and show for each quarter and for the
6 months, units, selling price, and total sales by product and in total.
XQ-103
XQ-104
21,430
14,240
Totals
eTextbook and Media
27,390
17,330
Save for Later
Units
$
Quarter 1
Selling Price
$
Total Sales
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