Sales and Production Budgets Lake Street Audio Company manufactures two models of speakers, LoFi and HiFi. Based on the following production and sales data for June: LoFi HiFi Estimated inventory (units), June 1 6,250 2,500 Desired inventory (units), June 30 7,500 3,750 Expected sales volume (units): West Region 35,000 25,000 East Region 40,000 31,250 Unit sales price $55 $90 a. Prepare a sales budget. Enter all amounts as positive numbers. LAKE STREET AUDIO COMPANY Sales Budget For the Month Ending June 30 Product and Region Unit Sales Volume Unit Selling Price Total Sales LOFT: West Region East Region Total HiFi: West Region East Region 10000 Total Total revenue from sales b. Prepare a production budget. Use a negative sign for all subtracted amounts. LAKE STREET AUDIO COMPANY Production Budget For the Month Ending June 30 Line Item Description LOF HiFi Expected units to be sold Total Total units to be produced