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 66157b067fe0fb1_1 $fill in the blank 66157b067fe0fb1_2 $fill in the blank South Region fill in the blank 66157b067fe0fb1_4 fill in the blank 66157b067fe0fb1_5 fill in the blank Total fill in the blank 66157b067fe0fb1_7 $fill in the blank Model: Thunder Midwest Region fill in the blank 66157b067fe0fb1_9 $fill in the blank 66157b067fe0fb1_10 $fill in the blank South Region fill in the blank 66157b067fe0fb1_12 fill in the blank 66157b067fe0fb1_13 fill in the blank Total fill in the blank 66157b067fe0fb1_15 $fill in the blank Total revenue from sales $fill in the blank 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 fill in the blank - Select - - Select - Total units to be produced fill in the blank fill in the blank
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 66157b067fe0fb1_1 $fill in the blank 66157b067fe0fb1_2 $fill in the blank South Region fill in the blank 66157b067fe0fb1_4 fill in the blank 66157b067fe0fb1_5 fill in the blank Total fill in the blank 66157b067fe0fb1_7 $fill in the blank Model: Thunder Midwest Region fill in the blank 66157b067fe0fb1_9 $fill in the blank 66157b067fe0fb1_10 $fill in the blank South Region fill in the blank 66157b067fe0fb1_12 fill in the blank 66157b067fe0fb1_13 fill in the blank Total fill in the blank 66157b067fe0fb1_15 $fill in the blank Total revenue from sales $fill in the blank 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 fill in the blank - Select - - Select - Total units to be produced fill in the blank fill in the blank
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
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 66157b067fe0fb1_1 | $fill in the blank 66157b067fe0fb1_2 | $fill in the blank |
| South Region | fill in the blank 66157b067fe0fb1_4 | fill in the blank 66157b067fe0fb1_5 | fill in the blank |
| Total | fill in the blank 66157b067fe0fb1_7 | $fill in the blank | |
| Model: Thunder | |||
| Midwest Region | fill in the blank 66157b067fe0fb1_9 | $fill in the blank 66157b067fe0fb1_10 | $fill in the blank |
| South Region | fill in the blank 66157b067fe0fb1_12 | fill in the blank 66157b067fe0fb1_13 | fill in the blank |
| Total | fill in the blank 66157b067fe0fb1_15 | $fill in the blank | |
| Total revenue from sales | $fill in the blank |
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 | fill in the blank |
|
|
- Select - | - Select - |
| Total units to be produced | fill in the blank | fill in the blank |
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 2 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education