Sales and Production Budgets Bass Audio Company manufactures two models of speakers, U500 and S1000. Based on the following production and sales data for June. U500 S1000 Estimated inventory (units), June 1 227 56 Desired inventory (units), June 30 261 49 Expected sales volume (units): Northeast Region 2,200 1,950 Southwest Region 5,250 4,550 Unit sales price $125 $185 a. Prepare a sales budget. Enter all amounts as positive numbers. BASS AUDIO COMPANYSales BudgetFor the Month Ending June 30 Product and Area Unit Sales Volume Unit Sales Price Total Sales Model U500: Northeast Region fill in the blank 33bd2e083fb2fb3_1 $fill in the blank 33bd2e083fb2fb3_2 $fill in the blank 33bd2e083fb2fb3_3 Southwest Region fill in the blank 33bd2e083fb2fb3_4 fill in the blank 33bd2e083fb2fb3_5 fill in the blank 33bd2e083fb2fb3_6 Total fill in the blank 33bd2e083fb2fb3_7 $fill in the blank 33bd2e083fb2fb3_8 Model S1000: Northeast Region fill in the blank 33bd2e083fb2fb3_9 $fill in the blank 33bd2e083fb2fb3_10 $fill in the blank 33bd2e083fb2fb3_11 Southwest Region fill in the blank 33bd2e083fb2fb3_12 fill in the blank 33bd2e083fb2fb3_13 fill in the blank 33bd2e083fb2fb3_14 Total fill in the blank 33bd2e083fb2fb3_15 $fill in the blank 33bd2e083fb2fb3_16 Total revenue from sales $fill in the blank 33bd2e083fb2fb3_17 Feedback a. For each region and each model, multiply unit sales volume by unit selling price. b. Prepare a production budget. Enter all amounts as positive numbers. BASS AUDIO COMPANYProduction BudgetFor the Month Ending June 30 U500 S1000 Expected units to be sold fill in the blank 757d4ffa8fb2ff9_1 fill in the blank 757d4ffa8fb2ff9_2 Plus desired inventory, June 30 Plus desired inventory, June 30 Total fill in the blank 757d4ffa8fb2ff9_6 fill in the blank 757d4ffa8fb2ff9_7 Less estimated inventory, June 1 Less estimated inventory, June 1 Total units to be produced fill in the blank 757d4ffa8fb2ff9_11 fill in the blank 757d4ffa8fb2ff9_12
Sales and Production Budgets Bass Audio Company manufactures two models of speakers, U500 and S1000. Based on the following production and sales data for June. U500 S1000 Estimated inventory (units), June 1 227 56 Desired inventory (units), June 30 261 49 Expected sales volume (units): Northeast Region 2,200 1,950 Southwest Region 5,250 4,550 Unit sales price $125 $185 a. Prepare a sales budget. Enter all amounts as positive numbers. BASS AUDIO COMPANYSales BudgetFor the Month Ending June 30 Product and Area Unit Sales Volume Unit Sales Price Total Sales Model U500: Northeast Region fill in the blank 33bd2e083fb2fb3_1 $fill in the blank 33bd2e083fb2fb3_2 $fill in the blank 33bd2e083fb2fb3_3 Southwest Region fill in the blank 33bd2e083fb2fb3_4 fill in the blank 33bd2e083fb2fb3_5 fill in the blank 33bd2e083fb2fb3_6 Total fill in the blank 33bd2e083fb2fb3_7 $fill in the blank 33bd2e083fb2fb3_8 Model S1000: Northeast Region fill in the blank 33bd2e083fb2fb3_9 $fill in the blank 33bd2e083fb2fb3_10 $fill in the blank 33bd2e083fb2fb3_11 Southwest Region fill in the blank 33bd2e083fb2fb3_12 fill in the blank 33bd2e083fb2fb3_13 fill in the blank 33bd2e083fb2fb3_14 Total fill in the blank 33bd2e083fb2fb3_15 $fill in the blank 33bd2e083fb2fb3_16 Total revenue from sales $fill in the blank 33bd2e083fb2fb3_17 Feedback a. For each region and each model, multiply unit sales volume by unit selling price. b. Prepare a production budget. Enter all amounts as positive numbers. BASS AUDIO COMPANYProduction BudgetFor the Month Ending June 30 U500 S1000 Expected units to be sold fill in the blank 757d4ffa8fb2ff9_1 fill in the blank 757d4ffa8fb2ff9_2 Plus desired inventory, June 30 Plus desired inventory, June 30 Total fill in the blank 757d4ffa8fb2ff9_6 fill in the blank 757d4ffa8fb2ff9_7 Less estimated inventory, June 1 Less estimated inventory, June 1 Total units to be produced fill in the blank 757d4ffa8fb2ff9_11 fill in the blank 757d4ffa8fb2ff9_12
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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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Sales and Production Budgets
Bass Audio Company manufactures two models of speakers, U500 and S1000. Based on the following production and sales data for June.
| U500 | S1000 | ||
| Estimated inventory (units), June 1 | 227 | 56 | |
| Desired inventory (units), June 30 | 261 | 49 | |
| Expected sales volume (units): | |||
| Northeast Region | 2,200 | 1,950 | |
| Southwest Region | 5,250 | 4,550 | |
| Unit sales price | $125 | $185 |
a. Prepare a sales budget. Enter all amounts as positive numbers.
| Product and Area | Unit Sales Volume |
Unit Sales Price |
Total Sales |
| Model U500: | |||
| Northeast Region | fill in the blank 33bd2e083fb2fb3_1 | $fill in the blank 33bd2e083fb2fb3_2 | $fill in the blank 33bd2e083fb2fb3_3 |
| Southwest Region | fill in the blank 33bd2e083fb2fb3_4 | fill in the blank 33bd2e083fb2fb3_5 | fill in the blank 33bd2e083fb2fb3_6 |
| Total | fill in the blank 33bd2e083fb2fb3_7 | $fill in the blank 33bd2e083fb2fb3_8 | |
| Model S1000: | |||
| Northeast Region | fill in the blank 33bd2e083fb2fb3_9 | $fill in the blank 33bd2e083fb2fb3_10 | $fill in the blank 33bd2e083fb2fb3_11 |
| Southwest Region | fill in the blank 33bd2e083fb2fb3_12 | fill in the blank 33bd2e083fb2fb3_13 | fill in the blank 33bd2e083fb2fb3_14 |
| Total | fill in the blank 33bd2e083fb2fb3_15 | $fill in the blank 33bd2e083fb2fb3_16 | |
| Total revenue from sales | $fill in the blank 33bd2e083fb2fb3_17 |
a. For each region and each model, multiply unit sales volume by unit selling price.
b. Prepare a production budget. Enter all amounts as positive numbers.
| U500 | S1000 | |
| Expected units to be sold | fill in the blank 757d4ffa8fb2ff9_1 | fill in the blank 757d4ffa8fb2ff9_2 |
|
|
Plus desired inventory, June 30 | Plus desired inventory, June 30 |
| Total | fill in the blank 757d4ffa8fb2ff9_6 | fill in the blank 757d4ffa8fb2ff9_7 |
|
|
Less estimated inventory, June 1 | Less estimated inventory, June 1 |
| Total units to be produced | fill in the blank 757d4ffa8fb2ff9_11 | fill in the blank 757d4ffa8fb2ff9_12 |
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