Coronado Enterprises is a boutique guitar manufacturer. The company produces both acoustic and electric guitars for rising and established professional musicians. Vanessa Aaron, the company's sales manager, prepared the following sales forecast for 2018. The forecasted sales prices include a 5% increase in the acoustic guitar price and a 10% increase in the electric guitar price, to cover anticipated increases in raw materials prices. 3rd Quarter 4th Quarter Sales Price $1.200 $2,370 1st Quarter 210 420 2nd Quarter 300 Acoustic guitar sales Electric guitar sales 290 315 380 330 350 Prepare Coronado's sales budget for 2018. 1st Quarter Sales Budget 3rd Quarter 1st Quarter 2nd Quart 4th Quarter Annual Acoustic Electric Total revenue e Textbook and Media On December 31, 2017. Coronado had 30 acoustic guitars in stock-fewer than the desired inventory level of 84 guitars, based on the following quarter's sales. The company has budgeted for sales of 240 acoustic guitars in the first quarter of 2019. Prepare the 2018 production budget for acoustic guitars. Production Budget 2nd Quarter 3rd Quarter 1st Quarter 4th Quarter Annual e Textbook and Media Each acoustic guitar requires a maple neck blank, which Coronado purchases for $50. On December 31, 2017. Coronado had 420 neck blanks in inventory. Spoilage during the production process results in a standard quantity of 1.5 necks per acoustic guitar. Because of recent delivery problems, Coronado wants to maintain an ending inventory equal to 50% of the following quarter's production needs. Since the supplier has assured Coronado that the delivery issues will be resolved by the end of December. Coronado wants only 330 neck blanks in inventory on December 31, 2018. Prepare the purchases budget for neck blanks for 2018. (Enter "per guitar" value to i decimal place, e.g. 3.1. Round all other answers to decimal places, eg. 153.1 On December 31, 2017, Coronado had 30 acoustic guitars in stock-fewer than the desired inventory level of 84 guitars, based on the following quarter's sales. The company has budgeted for sales of 240 acoustic guitars in the first quarter of 2019. Prepare the 2018 production budget for acoustic guitars. Production Budget 2nd Quarter 3rd Quarter 1st Quarter 4th Quarter Annual e Textbook and Media Each acoustic guitar requires a maple neck blank, which Coronado purchases for $50. On December 31, 2017. Coronado had 420 neck blanks in inventory. Spoilage during the production process results in a standard quantity of 1.5 necks per acoustic guitar. Because of recent delivery problems, Coronado wants to maintain an ending inventory equal to 50% of the following quarter's production needs. Since the supplier has assured Coronado that the delivery issues will be resolved by the end of December. Coronado wants only 330 neck blanks in inventory on December 31, 2018. Prepare the purchases budget for neck blanks for 2018. (Enter "per guitar" value to i decimal place, e.g. 3.1. Round all other answers to decimal places, eg. 153.) Purchases Budget 2nd Quarter 1st Quarter 3rd Quarter 4th Quarter Annual
