E24.2

Write a memo to Jim Dixon, the president of Trusler Company, in which you define budgeting, identify the budgets that comprise the master budget, identify the primary benefits of budgeting, and discuss the essentials of effective budgeting. E24.2 (LO 2) Edington Electronics Inc. produces and sells two models of calculators, XQ-103 and XQ-104. The calculators sell for $15 and $25, respectively. Because of the intense competition Edington faces, management budgets sales semiannually. Its projections for the first 2 quarters of 2020 are as follows. Product XQ-103 XQ-104 Unit Sales Quarter 1 Quarter 2 20,000 22,000 12,000 15,000 No changes in selling prices are anticipated. Instructions Prepare a sales budget for the 2 quarters ending June 30, 2020. List the products and show for each quar- ter and for the 6 months, units, selling price, and total sales by product and in total. E24.3 (LO 2) Service Thome and Crede, CPAs, are preparing their service revenue (sales) budget for the coming year (2020) The practice in dim