Problem D5-31 Simmons Enterprises is a boutique guitar manufacturer. The company produces both acoustic and electric guitars for rising and established professional musicians. Vanessa Aaron, the company's sales manage prepared t e o lowing sa es frecast or 2018 he forecasted sales prices indude a 5% rcrease n the acoustic guitar nce ard a 10% increase in the eletric u ar pno to cover arne ated toe s s w materials prices Sales Price 1 Quarter nd Quarter 3d Quarter4h Quarter 200 280 300 325 Acoustic guitar sales Electric guitar sales $1,250 $2,400 400 350 320 360 CALCU Your answer is correct. Prepare Simmons's sales budget for 2018. Sales Budget 1st Quarter 2nd Quarter 3d Quarter 4th Quarter Acoustic Annual Budgeted units sold 200 280 325 1,105 Budgeted sales priceV 1,250 1,250 1,250 1,250 1,250 Budgeted revenue 250,000 375,000 406,250 1,381,250 Electric Budgeted Budgeted sales price Budgeted revenue units sold 400 350 360 1,430 2,400 2,400 2,400 2,400 2,400 960,000 840,000 768,000 864,000 3,432,000 Total revenue 1,210,000 1,190,000 1,143,000 1,270,250 4,813,250 Your answer is correct. CALCULATOR FULL SCREEN PRINTER VERSEON6 BACK On December 31, 2017, Simmons had 30 acoustic guitars in stock-fewer than the desired inventory level of 80 guitars, based on the following quarter's sales. The company has budgeted for sales of of 80 guitars, based on in the first quarter of 2019. Prepare the 2018 production budget for acoustic guitars Production Budget 1 Quarter 2nd Quarter 3d Quarter 4th Quarter Annual Budgeted unit sales Budgeted ending inventory Total units required 200 280 300 325 1,105 112 120 130 96 96 312 400 430 421 1,201 30 112 120 130 30 Budgeted production 282 288 310 291 1,171 standard quantity o 1.5 necks per acoustic guitar. Because of recent delivery problems Simmons wants to maintain an ending inventory equal to 0% of the follow ng quarters pr supplier has assured Simmons that the delivery issues will be resolved by the end of December, Simmons wants only 150 neck blanks in inventory on December 31, 2018. Prepare the purchases budget for nieck blanks for 2018. (Enter "per guitar" value to 1 decimal place, .g.3.1. Rond all other answers to o decimal places, . 153 CALCULATOR FURL SCREEN oducton need, tince the 1t Quarter Quarter 3"d Quarter 4h Quarter Budgeted production 288 Standard necks per uitar 1.5 Production needs 339 158 1,685 Budgeted ending inventory 85 150 150 Total DM required (necks) 518 Beginning inventory 1435 24 Budgeted purchases (necks) 45 Standard price per neck Activate Windows 20,610 23,400 64,575 19,485 Budgeted pur