Sonic Inc. manufactures two models of speakers, Rumble and Thunder. Based on the following production and sales data for June, prepare (a) a sales budget and (b) a production budget: Rumble Thunder Estimated inventory (units), June 1 750 300 Desired inventory (units), June 30 500 250 Expected sales volume (units): Midwest Region 12,000 3,500 South Region 14,000 4,000 Unit sales price $60 $90 a. Prepare a sales budget. Sonic Inc.Sales BudgetFor the Month Ending June 30 Product and Area Unit Sales Volume Unit Selling Price Total Sales Model: Rumble Midwest Region fill in the blank 86a7db043f8cf84_1 $fill in the blank 86a7db043f8cf84_2 $fill in the blank 86a7db043f8cf84_3 South Region fill in the blank 86a7db043f8cf84_4 fill in the blank 86a7db043f8cf84_5 fill in the blank 86a7db043f8cf84_6 Total fill in the blank 86a7db043f8cf84_7 $fill in the blank 86a7db043f8cf84_8 Model: Thunder Midwest Region fill in the blank 86a7db043f8cf84_9 $fill in the blank 86a7db043f8cf84_10 $fill in the blank 86a7db043f8cf84_11 South Region fill in the blank 86a7db043f8cf84_12 fill in the blank 86a7db043f8cf84_13 fill in the blank 86a7db043f8cf84_14 Total fill in the blank 86a7db043f8cf84_15 $fill in the blank 86a7db043f8cf84_16 Total revenue from sales $fill in the blank 86a7db043f8cf84_17 b. Prepare a production budget. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Sonic Inc.Production BudgetFor the Month Ending June 30 Units Rumble Units Thunder - Select - - Select - - Select - - Select - Total units available fill in the blank ecc35efa8fe4029_7 fill in the blank ecc35efa8fe4029_8 - Select - - Select - Total units to be produced fill in the blank ecc35efa8fe4029_12 fill in the blank ecc35efa8fe4029_13
Sonic Inc. manufactures two models of speakers, Rumble and Thunder. Based on the following production and sales data for June, prepare (a) a sales budget and (b) a production budget: Rumble Thunder Estimated inventory (units), June 1 750 300 Desired inventory (units), June 30 500 250 Expected sales volume (units): Midwest Region 12,000 3,500 South Region 14,000 4,000 Unit sales price $60 $90 a. Prepare a sales budget. Sonic Inc.Sales BudgetFor the Month Ending June 30 Product and Area Unit Sales Volume Unit Selling Price Total Sales Model: Rumble Midwest Region fill in the blank 86a7db043f8cf84_1 $fill in the blank 86a7db043f8cf84_2 $fill in the blank 86a7db043f8cf84_3 South Region fill in the blank 86a7db043f8cf84_4 fill in the blank 86a7db043f8cf84_5 fill in the blank 86a7db043f8cf84_6 Total fill in the blank 86a7db043f8cf84_7 $fill in the blank 86a7db043f8cf84_8 Model: Thunder Midwest Region fill in the blank 86a7db043f8cf84_9 $fill in the blank 86a7db043f8cf84_10 $fill in the blank 86a7db043f8cf84_11 South Region fill in the blank 86a7db043f8cf84_12 fill in the blank 86a7db043f8cf84_13 fill in the blank 86a7db043f8cf84_14 Total fill in the blank 86a7db043f8cf84_15 $fill in the blank 86a7db043f8cf84_16 Total revenue from sales $fill in the blank 86a7db043f8cf84_17 b. Prepare a production budget. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Sonic Inc.Production BudgetFor the Month Ending June 30 Units Rumble Units Thunder - Select - - Select - - Select - - Select - Total units available fill in the blank ecc35efa8fe4029_7 fill in the blank ecc35efa8fe4029_8 - Select - - Select - Total units to be produced fill in the blank ecc35efa8fe4029_12 fill in the blank ecc35efa8fe4029_13
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.
Question
Sonic Inc. manufactures two models of speakers, Rumble and Thunder. Based on the following production and sales data for June, prepare (a) a sales budget and (b) a production budget:
| Rumble | Thunder | ||
| Estimated inventory (units), June 1 | 750 | 300 | |
| Desired inventory (units), June 30 | 500 | 250 | |
| Expected sales volume (units): | |||
| Midwest Region | 12,000 | 3,500 | |
| South Region | 14,000 | 4,000 | |
| Unit sales price | $60 | $90 |
a. Prepare a sales budget.
| Product and Area | Unit Sales Volume | Unit Selling Price | Total Sales |
| Model: Rumble | |||
| Midwest Region | fill in the blank 86a7db043f8cf84_1 | $fill in the blank 86a7db043f8cf84_2 | $fill in the blank 86a7db043f8cf84_3 |
| South Region | fill in the blank 86a7db043f8cf84_4 | fill in the blank 86a7db043f8cf84_5 | fill in the blank 86a7db043f8cf84_6 |
| Total | fill in the blank 86a7db043f8cf84_7 | $fill in the blank 86a7db043f8cf84_8 | |
| Model: Thunder | |||
| Midwest Region | fill in the blank 86a7db043f8cf84_9 | $fill in the blank 86a7db043f8cf84_10 | $fill in the blank 86a7db043f8cf84_11 |
| South Region | fill in the blank 86a7db043f8cf84_12 | fill in the blank 86a7db043f8cf84_13 | fill in the blank 86a7db043f8cf84_14 |
| Total | fill in the blank 86a7db043f8cf84_15 | $fill in the blank 86a7db043f8cf84_16 | |
| Total revenue from sales | $fill in the blank 86a7db043f8cf84_17 |
b. Prepare a production budget. For those boxes in which you must enter subtracted or negative numbers use a minus sign.
| Units Rumble | Units Thunder | |
|
|
- Select - | - Select - |
|
|
- Select - | - Select - |
| Total units available | fill in the blank ecc35efa8fe4029_7 | fill in the blank ecc35efa8fe4029_8 |
|
|
- Select - | - Select - |
| Total units to be produced | fill in the blank ecc35efa8fe4029_12 | fill in the blank ecc35efa8fe4029_13 |
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