View Policies Show Attempt History Current Attempt in Progress Concord Enterprises is a boutique guitar manufacturer. The company produces both acoustic and electric guitars for rising and established professional musicians. Barbara Jones, the company's sales manager, prepared the following sales forecast for 2022. The forecasted sales prices include a 5% increase in the acoustic guitar price and a 10% increase in the electric guitar price, to cover anticipated increases in raw materials prices, 2nd Quarter Sales Price $1.400 $2,050 Acoustic guitar sales Electric guitar sales 1 Quarter 200 400 4th Quarter 340 3rd Quarter 320 320 290 350 360 Your answer is correct. Prepare Concord's sales budget for 2022. Sales Budget 1st Quarter 2nd Quarter 3rd Quarter Acoustic 200 Budgeted units sold 290 320 $ Budgeted sales price 1400 1400 $ 1400 $ Budgeted revenue 280000 406000 $ 448000 Electric Budgeted units sold 400 350 320 Budgeted sales price $ 2050 $ 2050 $ 2050 $ Budgeted revenue $ 820000 $ 717500 $ 656000 $ Total revenue 1100000 $ 1123500 $ 1104000 $ Your answer is correct. Prepare Concord's sales budget for 2022. Sales Budget 2nd Quarter 3rd Quarter 4th Quarter Annual 200 290 320 340 1150 400 $ 1400 1400 $ 1400 $ 1400 000 406000 $ 448000 $ 476000 $ 1610000 400 350 320 360 1430 050 $ 2050 $ 2050 $ 2050 $ 2050 000 $ 717500 $ 656000 $ 738000 $ 2931500 000 $ 1123500 $ 1104000 $ 1214000 $ 4541500 Your answer is partially correct. On December 31, 2021, Concord 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 240 acoustic guitars in the first quarter of 2023. Prepare the 2022 production budget for acoustic guitars. 1st Quarter Production Budget 2nd Quarter 3rd Quarter 290 320 Budgeted unit sales 200 Budgeted ending inventory Total units required Beginning inventory Budgeted production Your answer is partially correct. On December 31, 2021, Concord 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 240 acoustic guitars in the first quarter of 2023. Prepare the 2022 production budget for acoustic guitars. uarter Production Budget 2nd Quarter 3rd Quarter 290 320 4th Quarter Annual 200 340 1150 96 96