Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

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

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:

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
Estimated inventory (units), June 1 280 69
Desired inventory (units), June 30 322 60
Expected sales volume (units):
Midwest Region 4,400 3,850
South Region 4,800 4,200
Unit sales price $140 $210

a. Prepare a sales budget.

Sonic Inc.
Sales Budget
For the Month Ending June 30
Product and Area Unit Sales Volume Unit Selling Price Total Sales
Model: Rumble
Midwest Region fill in the blank 85e1eafb8041017_1 $fill in the blank 85e1eafb8041017_2 $fill in the blank 85e1eafb8041017_3
South Region fill in the blank 85e1eafb8041017_4 fill in the blank 85e1eafb8041017_5 fill in the blank 85e1eafb8041017_6
Total fill in the blank 85e1eafb8041017_7 $fill in the blank 85e1eafb8041017_8
Model: Thunder
Midwest Region fill in the blank 85e1eafb8041017_9 $fill in the blank 85e1eafb8041017_10 $fill in the blank 85e1eafb8041017_11
South Region fill in the blank 85e1eafb8041017_12 fill in the blank 85e1eafb8041017_13 fill in the blank 85e1eafb8041017_14
Total fill in the blank 85e1eafb8041017_15 $fill in the blank 85e1eafb8041017_16
Total revenue from sales $fill in the blank 85e1eafb8041017_17

Feedback

Once sales quantities are estimated, the expected sales revenue can be determined.

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
Expected units to be sold fill in the blank 6e6176f6afb5ff4_2 fill in the blank 6e6176f6afb5ff4_3
Desired inventory, June 30 fill in the blank 6e6176f6afb5ff4_5 fill in the blank 6e6176f6afb5ff4_6
Total units available fill in the blank 6e6176f6afb5ff4_7 fill in the blank 6e6176f6afb5ff4_8
Estimated inventory, June 1 fill in the blank 6e6176f6afb5ff4_10 fill in the blank 6e6176f6afb5ff4_11
Total units to be produced fill in the blank 6e6176f6afb5ff4_12 fill in the blank 6e6176f6afb5ff4_13

a. Prepare a sales budget.

Sonic Inc.
Sales Budget
For the Month Ending June 30
Product and Area Unit Sales Volume Unit Selling Price Total Sales
Model: Rumble
Midwest Region fill in the blank 85e1eafb8041017_1 $fill in the blank 85e1eafb8041017_2 $fill in the blank 85e1eafb8041017_3
South Region fill in the blank 85e1eafb8041017_4 fill in the blank 85e1eafb8041017_5 fill in the blank 85e1eafb8041017_6
Total fill in the blank 85e1eafb8041017_7 $fill in the blank 85e1eafb8041017_8
Model: Thunder
Midwest Region fill in the blank 85e1eafb8041017_9 $fill in the blank 85e1eafb8041017_10 $fill in the blank 85e1eafb8041017_11
South Region fill in the blank 85e1eafb8041017_12 fill in the blank 85e1eafb8041017_13 fill in the blank 85e1eafb8041017_14
Total fill in the blank 85e1eafb8041017_15 $fill in the blank 85e1eafb8041017_16
Total revenue from sales $fill in the blank 85e1eafb8041017_17

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
fill in the blank 6e6176f6afb5ff4_2 fill in the blank 6e6176f6afb5ff4_3
fill in the blank 6e6176f6afb5ff4_5 fill in the blank 6e6176f6afb5ff4_6
Total units available fill in the blank 6e6176f6afb5ff4_7 fill in the blank 6e6176f6afb5ff4_8
fill in the blank 6e6176f6afb5ff4_10 fill in the blank 6e6176f6afb5ff4_11
Total units to be produced fill in the blank 6e6176f6afb5ff4_12 fill in the blank 6e6176f6afb5ff4_13

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions