Sonic Inc. manufactures two models of speakers, Rumble and Thunder. Based on the following production and sales datafor June, prepare (a) a sales budget and (b) a production budget.Estimated inventory (units), June 1Desired inventory (units), June 30Expected sales volume (units):East RegionWest RegionUnit sales pricea. Prepare a sales budget.Product and AreaModel Rumble:East RegionWest RegionTotalModel Thunder:East RegionRumbleUnitSalesVolume286Sonic Inc.Sales BudgetFor the Month Ending June 303293,9005,500$105UnitSellingPriceThunder83723,4506,200$205TotalSales Product and AreaModel Rumble:East RegionWest RegionTotalModel Thunder:East RegionWest RegionTotalTotal revenue from salesb. Prepare a production budget.Sonic Inc.Production BudgetFor the Month Ending June 30Expected units to be soldTotal units requiredPRTotal units to be producedUnits Model Rumble Units Model Thunder

The sales budget is referred as a financial forecast that outlines the expected sales revenues for a…

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. Thunder Estimated inventory (units), June 1 Desired inventory (units), June 30 Expected sales volume (units): East Region West Region Unit sales price a. Prepare a sales budget. Product and Area Model Rumble: East Region West Region Total Model Thunder: East Region Rumble Sonic Inc. Sales Budget For the Month Ending June 30 Unit Sales Volume 286 329 3,900 5,500 $105 Unit Selling Price 83 72 3,450 6,200 $205 Total Sales

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. Thunder Estimated inventory (units), June 1 Desired inventory (units), June 30 Expected sales volume (units): East Region West Region Unit sales price a. Prepare a sales budget. Product and Area Model Rumble: East Region West Region Total Model Thunder: East Region Rumble Sonic Inc. Sales Budget For the Month Ending June 30 Unit Sales Volume 286 329 3,900 5,500 $105 Unit Selling Price 83 72 3,450 6,200 $205 Total Sales

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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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.
Estimated inventory (units), June 1
Desired inventory (units), June 30
Expected sales volume (units):
East Region
West Region
Unit sales price
a. Prepare a sales budget.
Product and Area
Model Rumble:
East Region
West Region
Total
Model Thunder:
East Region
Rumble
Unit
Sales
Volume
286
Sonic Inc.
Sales Budget
For the Month Ending June 30
329
3,900
5,500
$105
Unit
Selling
Price
Thunder
83
72
3,450
6,200
$205
Total
Sales

Product and Area
Model Rumble:
East Region
West Region
Total
Model Thunder:
East Region
West Region
Total
Total revenue from sales
b. Prepare a production budget.
Sonic Inc.
Production Budget
For the Month Ending June 30
Expected units to be sold
Total units required
PR
Total units to be produced
Units Model Rumble Units Model Thunder

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