Sonic Inc. Production Budget For the Month Ending June 30 Total units available Total units to be produced Units Rumble Units Thunder
Q: 2. The following Trial Balance obtained from Mr. Sofi business in baby clothes on 31st December…
A: The question asked to prepare the statement of comprehensive income, and, the statement of financial…
Q: Current Liabilities Accounts Payable Interest Payable Total Current Liabilities Long-Term…
A: The balance sheet seems to be a crucial document since it reflects the organization's financial…
Q: Gesualdo, Incorporated, manufactures and sells two products: Product Z6 and Product F4. Data…
A: Activity-based costing is a costing method that identifies activities in an organization and assigns…
Q: Indicate where the following items will be shown in the balance sheet. a) Insurance paid for the…
A: Preparation of final accounts is the final destination of the accounting process. As discussed…
Q: On the first day of the fiscal year, a company issues a $1,300,000, 9%, 4-year bond that pays…
A: Journal entry is the procedure for initially documenting commercial transactions in the books of…
Q: Question 14 What should you do to streamline the purchasing process once the customer approves an…
A: This will streamline the purchasing process by ensuring that all details from the estimate are…
Q: Bonita Co. reported $150,000 of net income for 2020. The accountant, in preparing the statement of…
A: Cash flow from operating activities refers to a company's earnings from ongoing, regular business…
Q: Scott and Laura are married and will file a joint tax return. Laura has a sole proprietorship (not a…
A: Any individual or married filing jointly having income below the specified limit are eligible for…
Q: Modern Lighting Inc. manufactures lighting fixtures, using lean manufacturing methods. Style Omega…
A: Formulas, Budgeted cell conversion cost per hour= budgeted conversion cost/production hours Budgeted…
Q: Asumme the company has always used a ‘traditional’ incremental approach towards building its budgets…
A: Answer:- Budget meaning:- The projection of future income and expenses is done with the help of…
Q: Question no. 11: solved: The following are the maintenance costs of Al-Aqsa Trading Company during…
A: Variable Cost :— It is the cost that changes with change in cost driver. Variable cost per unit is…
Q: Franco, Maria and Gomez entered into a partnership to buy a steel manufacturing plant. They agreed…
A: Profit to be allocated to Maria = Net Income × Capital contributed by Maria / Total Capital.
Q: 40,000 Equity Shares of ₹10 each 12% Preference Share Capital Reserve Profit & Loss Balance 15% Long…
A: The return on investment ratio indicates the link between the net profit and the total capital…
Q: Question 10 Which report displays the business's Profit and Loss in picture form? Detail C
A: Income statement shows the net income or net loss of the company. It would required to be calculated…
Q: You are considering investing RM61000 in new equipment. You estimate that the net cash flows will be…
A: Annual capital cost is nothing but depreciation calculated by the straight-line method. The salvage…
Q: Journalise the following transactions ::::: a) Sold goods to B for $50,000 @20% trade discount and…
A: A Journal is a book in which all the transactions of a business are recorded for the first time. The…
Q: S, K and P are in a Partnership business as Machinery Manufacturers. They share Profits as 4:3:3.…
A: Dr Trading And Profit and loss A/ c…
Q: Which are the methods for evaluation of consumption of inventories in accordance with the…
A: The question is related to the Inventory Valuation. The IAS 2 deals with Valuation of Inventories.
Q: Merone Company allocates materials handling cost to the company's two products using the below data:…
A: Handling costs is the amount which is incurred for the purpose of making the movement of goods which…
Q: 2: Calculate Prime Cost, Factory Cost, Cost of Production, Cost of Sales and profit from the…
A: Cost of sales: It is the total cost incurred in the production of a product. It includes…
Q: You are the Chief Financial Officer at Bruins Inc., a leading manufacturer of ice-hockey equipment…
A: Economic order quantity (EOQ) is a calculation companies perform that represents their ideal order…
Q: Compute net cash provided by investing activities to be reported in the statement of cash flows of…
A: Cash from the source of the investing activities is the net of the cash flows which has been used by…
Q: Rye Corporation is owned 55% (55 shares) by Roger, 30% (30 shares) by Yolanda and 15% (15 shares) by…
A: A stock redemption occurs when a corporation repurchases its own outstanding shares of stock from…
Q: Dillon Products manufactures various machined parts to customer specifications. The company uses a…
A: INTRODUCTION: The cost of goods sold (COGS) is the cost of those goods. The cost of products sold…
Q: Compute the following: i) EPS of both the companies ii) Exchange Ratio
A: EPS is the earning per share. It is determined by dividing the company’s net profit by its…
Q: Tas Machinery Ltd manufactures two products, basic and superior, and applies overhead on the basis…
A: Predetermined Overhead Rate :— It is the rate used to allocate manufacturing overhead to cost object…
Q: s it true or not? When the accrual basis of accounting is used, an entity recognises items as…
A: There are basis for the financial reporting and income and each and every transaction must satisfy…
Q: What user type is appropriate for nonprofit companies that need to provide reporting access to their…
A: Non-profit companies are the companies which primary purpose is not a profit generation rather these…
Q: Question 1 From the For review tab in the Banking center, how can you exclude a bank transaction…
A: Bank reconciliation: Excluding a transaction from the "For Review" tab is a common step in the bank…
Q: What are 2 ways to begin setting up a recurring transaction in QuickBooks Online?
A: The correct answers are: (C) Gear > recurring transactions (E) Select the make recurring option…
Q: Sylvio owns a large fitness centre - Sandy Bay Fitness Club. To become a member of the fitness…
A: In this question, we need to prepare: Sales budget for the year ending 31 July 2022. Labour Budget…
Q: ou are the auditor of Al Nawa LLC. As per the rule, inventory should be valued at cost price or…
A: Lets understand the basics. As per IAS 2 "Inventory", inventory should be valued at lower of cost or…
Q: 2. On December 31, 2020, Parent company (A) acquired 80% of Subsidiary (B) outstanding common stocks…
A: "Since you have posted a question with multiple subparts, we will solve the first three subparts for…
Q: Account Number (1) (2) (3) (4) (5) (6) (7) (8) Account Title Cash Service Revenue Accounts…
A: The business operations and financial performance of an organization are described in financial…
Q: Prime Cycles Ltd. purchases 20,000 bells per annum from an outside supplier at $5 each. The…
A: Marginal costing is useful in profit planning; it is helpful to determine profitability at different…
Q: o., the consultant of MARISOL Co. had summarized the following stadard cost data extracted from the…
A: Price Variance - The price variance is calculated by multiplying the number of actual units…
Q: Dillon Products manufactures various machined parts to customer specifications. The company uses a…
A: Job Order costing is a method of costing which is used in industries where customized products are…
Q: journal entries
A: Retailers often allow customers to use credit cards for purchases to increase their sales. However,…
Q: At December 31, 2016, White Corporation, reported as current assets the following equity securities…
A: "Since you have posted a question with multiple subparts, we will solve the first three subparts for…
Q: Which 3 statements regarding bank rules are true?
A: Bank rules are the rules which are used by the company or a user of the software which is the…
Q: (I) WHAT ARE THE BANK RECONCILING ITEMS? DESCRIBE EACH. DECRIBE IN A SHORT WAY. NO NEED LONG…
A: Answer:- Bank reconciliation:- An entity's bank account and its financial records are compared in a…
Q: Which of the following statements is TRUE? O a) The adjusting entry to record the accrued vacation…
A: Payroll accounting means the company must record all the wages, dues, withholdings, and deductions…
Q: Each of the following independent events requires a year-end adjusting entry & Paid $48.000 cash in…
A: A journal entry is a form of accounting entry that is used to report a business transaction in a…
Q: 4. On the 1 January 2019 Sue Sepik commenced in business. During the year ended 31 December 2019 the…
A: Profit and Loss Account When a company prepares a statement for identifying the value of profits…
Q: i) Which is a better account? Savings or time deposit? Support your answer. (ii) Why is there a…
A: There are many times of account available in banking system to satisfy the customers need of the…
Q: working capital management
A: Working capital management assures of the best utilization of a firm’s current assets and current…
Q: Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $1,200,000, 6%,…
A: Issue of Bond at premium: Bond issuance premium arises when a bond is issued for more than the…
Q: Asap Delta Motors Corporation has 2,000,000 authorized shares of $10 par value common stock. As of…
A: Journal entries serve as the essential building blocks that provide answers to those and other…
Q: Problem 8. Due to financial difficulty and insolvency, NFL Inc. used different types of debt…
A: The carrying value of a bond refers to the amount that the bond is recorded on the issuer's balance…
Q: 8. What is the payback period of a project that has an initial investment of $100,000 and generates…
A: Answer (8)The payback period of a project is the amount of time it takes for the net present value…
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
Step by step
Solved in 3 steps with 4 images
- Sonic Inc. manufacturers 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 76 Desired inventory (units), June 30 322 66 Expected sales volume (units): Midwest Region 3,500 3,900 South Region 5,700 4,950 Unit sales price $125 $210 Refer to the pictures for the sales budget and production budget template.Vibrant 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 1 258 70 Desired inventory (units), June 30 296 61 Expected sales volume (units): North Region 3,250 3,650 South Region 5,200 4,500 Unit sales price $95 $185 a. Prepare a sales budget. Vibrant Inc. Sales Budget For the Month Ending June 30 Unit Unit Total Sales Selling Sales Volume Price Product and Area Model Rumble: North Region South Region Total Model Thunder: North Region South Region Total Total revenue from sales b. Prepare a production budget. Vibrant Inc. Production Budget For the Month Ending June 30 Units Units Model Model Rumble Thunder Expected units to be sold Total units required Total units to be producedSonic 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 1 260 64 Desired inventory (units), June 30 299 56 Expected sales volume (units): Midwest Region 2,900 2,550 South Region 5,650 4,900 Unit sales price $95 $220 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 South Region Accounting numeric field Total Model: Thunder Midwest Region South Region Total Total revenue from sales
- 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 1 219 70 Desired inventory (units), June 30 252 61 Expected sales volume (units): Midwest Region 2,250 2,500 South Region 4,950 5,600 Unit sales price $115 $185 a. Prepare a sales budget. b. Prepare a production budget. For those boxes in which you must enter subtracted or negative numbers use a minus sign.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: Estimated inventory (units), June 1 Desired inventory (units), June 30 Expected sales volume (units): Midwest Region South Region Unit sales price a. Prepare a sales budget. Product and Area Model: Rumble Midwest Region South Region Total Model: Thunder Midwest Region South Region Total Total revenue from sales Feedback. Check My Work Expected units to be sold ✓ Desired inventory, June 30 ✔ Rumble Sonic Inc. Sales Budget For the Month Ending June 30 Unit Sales Volume Total units available Estimated inventory, June 1 750 Total units to be produced 500 12,000 14,000 $60 Thunder 300 250 3,500 4,000 $90 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…QMW Company manufactures two models of microcassette recorders, VCH and MTV. Based on the following production data for April of the current year, prepare a production budget for April. VCH MTV Estimated inventory (units), April 1 2,600 3,900 Desired inventory (units), April 30 5,200 3,250 Expected sales volume (units): Eastern zone 10,500 12,960 Midwest zone 17,000 19,800 Western zone 4,500 9,840 QMW Company Production Budget For Month Ending April 30, 2023 VCH MTV Total Production
- 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 1 750 300 Desired inventory (units), June 30 500 250 Expected sales volume (units): Midwest Region 12,000 3,500 South Region 14,000 4,000 Unit sales price $60 $90 a. Prepare a sales budget. Sonic Inc.Sales BudgetFor the Month Ending June 30 Product and Area Unit Sales Volume Unit Selling Price Total Sales Model: Rumble Midwest Region fill in the blank 86a7db043f8cf84_1 $fill in the blank 86a7db043f8cf84_2 $fill in the blank 86a7db043f8cf84_3 South Region fill in the blank 86a7db043f8cf84_4 fill in the blank 86a7db043f8cf84_5 fill in the blank 86a7db043f8cf84_6 Total fill in the blank 86a7db043f8cf84_7 $fill in the blank 86a7db043f8cf84_8 Model: Thunder Midwest Region fill in the…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: Estimated inventory (units), June 1 Desired inventory (units), June 30 Expected sales volume (units): Midwest Region South Region Unit sales price a. Prepare a sales budget. Midwest Region South Region Total Model: Thunder Midwest Region South Region Sonic Inc. Sales Budget For the Month Ending June 30 Product and Area Unit Sales Volume Unit Selling Price Total Sales Model: Rumble Total Total revenue from sales Rumble Thunder $ Total units available Total units to be produced 258 296 3,450 5,000 $115 Sonic Inc. Production Budget For the Month Ending June 30 75 65 b. Prepare a production budget. For those boxes in which you must enter subtracted or negative numbers use a minus sign. 3,050 5,650 $225 Units Rumble Units Thunder $6. 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 1 262 72 Desired inventory (units), June 30 301 63 Expected sales volume (units): East Region 3,550 4,000 West Region 5,050 4,400 Unit sales price $125 $225 a. Prepare a sales budget.
- EX.22-06 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. Estimated inventory (units), June 1 Desired inventory (units), June 30 Expected sales volume (units): East Region West Region Unit sales price Rumble 262 301 2,700 5,900 $140 Thunder 66 57 2,400 5,150 $205Sales 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 750 500 Estimated inventory (units), June 1 Desired inventory (units), June 30 Expected sales volume (units): Midwest Region South Region Unit sales price a. Prepare a sales budget. Product and Area Model: Rumble Midwest Region South Region Total Model: Thunder Midwest Region South Region Total Total revenue from sales 12,000 14,000 $60 1000 1000 300 250 Sonic Inc. Sales Budget For the Month Ending June 30 Unit Sales Volume Unit Selling Price 3,500 4,000 $90 Total Sales 10000 1000Microfix Company manufactures two models of Television, AR30 and AR33. Based on the following production data for April of the current year, prepare a production budget for April. AR30 AR33 Estimated inventory (units), April 1 2,500 3,700 Desired inventory (units), April 30 3,700 3,700 Expected sales volume (units): Eastern zone 8,200 11,500 Midwest zone 13,000 17,500 Western zone 7,300 9,100 Microfix Company Production Budget For Month Ending April 30, 20XX AR30 (units) AT33 (units) Sales Plus desired ending inventory, April 30, 20XX X Total Less estimated beginning inventory, April 1, 20XX X Total production X