CengageNOWv2, 2 terms Printed Access Card for Warren?s Financial & Managerial Accounting, 13th, 13th Edition
13th Edition
ISBN: 9781305267831
Author: WARREN, Reeve
Publisher: Cengage
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Chapter 21, Problem 21.1APR
For 2016, Raphael Frame Company prepared the .sales budget that follows.
At the end of December 2016, the following unit sales data were reported for the year.
| Unit Sales | ||
| 8" × 10" Frame | 12" × 16" Frame | |
| East | 8,755 | 3,686 |
| Central | 6,510 | 3,090 |
| West | 12,348 | 5,616 |
For the year ending December 31, 2017, unit sales are expected to follow die patterns established during the year ending December 31, 2016. The unit selling price for the 8" × 10" frame is expected to increase to $17 and die unit selling price for die 12" × 16" frame is expected to increase to $32, effective January 1, 2017.
Instructions
1. Compute the increase or decrease of actual unit sales for the year ended December 31, 2016, over budget. Place your answers in a columnar table with the following format:
| Unit Sales, Year Ended 2016 | Increase (Decrease) Actual Over Budget | |
| Budget Actual Sales | Amount Percent | |
| 8" × 10" Frame: | ||
| East | ||
| Central | ||
| West | ||
| 12"× 16" Frame: | ||
| East | ||
| Central | ||
| West |
2. Assuming that the increase or decrease in actual sales to budget indicated in part (1) is to continue in 2017, compute the unit sales volume to be used for preparing the sales budget for the year ending December 31, 2017. Place your answers in a columnar table similar to that in part (1) but with the following column heads. Round budgeted units to the nearest unit.
| 2016 Actual Units | Percentage Increase (Decrease) | 2017 Budgeted Units (rounded) |
3. Prepare a sales budget for the year ending December 31, 2017.
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Chapter 21 Solutions
CengageNOWv2, 2 terms Printed Access Card for Warren?s Financial & Managerial Accounting, 13th, 13th Edition
Ch. 21 - Prob. 1DQCh. 21 - Briefly describe the type of human behavior...Ch. 21 - What behavioral problems are associated with...Ch. 21 - What behavioral problems are associated with...Ch. 21 - Under what circumstances would a static budget be...Ch. 21 - How do computerized budgeting systems aid firms in...Ch. 21 - Why should the production requirements Set forth...Ch. 21 - Prob. 8DQCh. 21 - A. Discuss the purpose of the cash budget. B. If...Ch. 21 - Give an example of how the capital expenditures...
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