Question
Edington Electronics Inc. produces and sells two models of pocket calculators, XQ-103 and XQ-104. The calculators sell for $14 and $26, respectively. Because of the
Edington Electronics Inc. produces and sells two models of pocket calculators, XQ-103 and XQ-104. The calculators sell for $14 and $26, respectively. Because of the intense competition Edington faces, management budgets sales semiannually. Its projections for the first 2 quarters of 2017 are as follows.
| Unit Sales | ||||
| Product | Quarter 1 | Quarter 2 | ||
| XQ-103 | 21,520 | 26,360 | ||
| XQ-104 | 14,850 | 16,950 | ||
No changes in selling prices are anticipated. Prepare a sales budget for the 2 quarters ending June 30, 2017. List the products and show for each quarter and for the 6 months, units, selling price, and total sales by product and in total.
| EDINGTON ELECTRONICS INC. Sales Budget June 30, 2017For the Quarter Ending June 30, 2017For the Six Months Ending June 30, 2017 | |||||||||||||||||
| Quarter 1 | Quarter 2 | Six Months | |||||||||||||||
| Product | Units | Selling Price | Total Sales | Units | Selling Price | Total Sales | Units | Selling Price | Total Sales | ||||||||
| XQ-103 | $ | $ | $ | $ | $ | $ | |||||||||||
| XQ-104 | |||||||||||||||||
| Totals | $ | $ | $ | ||||||||||||||
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Tobacco Industry IRS Audit Techniques Guide
Authors: Internal Revenue Service
1st Edition
1304114910, 978-1304114914
