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b. Prepare a production budget. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Sonic Inc. Production Budget For the Month Ending June 30 Company (KO), dilutes and mixes the concentrate with carbonated water, and then fills the blended beverage into cans or plastic two-liter bottles. Assume that the estimated production for Coke and Sprite two-liter bottles at the Wakefield, UK, botting plant is as follows for the month of May: In addition, assume that the concentrate costs $75 per pound for both Coke and Sprite and is used at a rate of 0.15 pound per 100 liters of carbonated water in blending Coke and 0.10 pound per 100 liters of carbonated water in blending Sprite. Assume that two liters of carbonated water are used for each two-liter bottle of finished product. Assume further that two-liter bottles cost $0,08 per bottie and carbonated water costs $0,06 per liter. Prepare a direct materiais purchases budget for May, assuming inventories are ignored, because there are no changes between beginning and ending inventories for concentrate, botties, and carbonated water. Sonic Inc. manufactures two models of speakers, Rumble and Thunder. Based on the following production and sales data for June, prepare (a) a sales budget and (b) a production budget: a. Prepare a sales budget. Sales commissions 14% of sales Advertising expense 18% of sales Miscellaneous administrative expense $6,500 per month plus 12% of sales Office salaries expense $30,000 per month Customer support expenses $12,000 per month plus 20% of sales Research and development expense $31,000 per month Prepare a flexible selling and administrative expenses budget for October for sales volumes of $400,000,$500,000, and $600,000. (Use Exhibit 5 as a model.) Digital Solutions Inc. Flexible Selling and Administrative Expenses Budget For the Month Ending October 31 $400,000$500,000$600,000 Total variable cost Fixed cost: Total fixed cost Total selling and administrative expenses