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Coronado, Inc., sells drum sets. Brian Lee, controller, is responsible for preparing the master budget. The sales manager has given Brian the following sales forecast
Coronado, Inc., sells drum sets. Brian Lee, controller, is responsible for preparing the master budget. The sales manager has given Brian the following sales forecast for the coming months. April May June July Forecasted unit sales 23,000 26,000 21,000 22,000 Coronado expects to have 11,500 drum sets in ending inventory on March 31. The company purchases the drum sets from its supplier for $150 each and maintains 20% of the following month's projected sales in ending inventory. Prepare Coronado's inventory purchases budget for the second quarter. Budgeted unit sales Budgeted ending inventory Total units required Beginning inventory Budgeted purchases, units Budgeted unit cost Budgeted purchases April May June $ $ $ Quarter
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