PLEASE ANSWER ALL PARTS OF THE QUESTIONS BELOW

Sales and Production Budgets 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: Rumble Thunder 280 82 322 71 Estimated inventory (units), June 1 Desired inventory (units), June 30 Expected sales volume (units): Midwest Region 3,950 3,500 South Region 5,250 5,950 Unit sales price $140 $195 a. Prepare a sales budget. Sonic Inc. Sales Budget For the Month Ending June 30 Unit Sales Volume Unit Selling Price Total Sales Product and Area Model: Rumble Midwest Region South Region Total Model: Thunder Midwest Region South Region Total Total revenue from sales 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 Units Rumble Units Thunder Total Total units to be produced Schedule of Cash Collections of Accounts Receivable Pet Place Supplies Inc., a pet wholesale supplier, was organized on May 1. Projected sales for each of the first three months of operations are as follows: May $310,000 June 390,000 540,000 July All sales are on account. Of sales on account, 57% are expected to be collected in the month of the sale, 39% in the month following the sale, and the remainder in the second month following the sale. Prepare a schedule indicating cash collections from sales for May, June, and July. Pet Place Supplies Inc. Schedule of Cash Collections from Sales For the Three Months Ending July 31 May June July May sales on account: Collected in May $ Collected in June $ Collected in July June sales on account: Collected in June Collected in July July sales on account: Collected in July Total cash collected