Question

In: Accounting

Sales Budget FlashKick Company manufactures and sells soccer balls for teams of children in elementary and...

Sales Budget

FlashKick Company manufactures and sells soccer balls for teams of children in elementary and high school. FlashKick’s best-selling lines are the practice ball line (durable soccer balls for training and practice) and the match ball line (high-performance soccer balls used in games). In the first four months of next year, FlashKick expects to sell the following:

Practice Balls Match Balls
Units Selling Price Units Selling Price
January 50,000 $8.25 7,000 $15.00
February 56,000 $8.25 7,500 $15.00
March 80,000 $8.25 13,000 $15.00
April 100,000 $8.25 18,000 $15.00

Required:

1. Construct a sales budget for FlashKick for the first three months of the coming year. Show total sales for each product line by month and in total for the first quarter. If required, round your answers to the nearest cent.

FlashKick Company
Sales Budget
For the First Quarter of Next Year
January February March Quarter
Practice ball:
Units
Unit price $ $ $ $
Sales $ $ $ $
Match ball:
Units
Unit price $ $ $ $
Sales $ $ $ $
Total sales $ $ $ $

2. What if FlashKick added a third line—tournament quality soccer balls that were expected to take 40 percent of the units sold of the match balls and would have a selling price of $42 each in January and February, and $45 each in March? Prepare a sales budget for FlashKick for the first three months of the coming year. Show total sales for each product line by month and in total for the first quarter. If required, round your answers to the nearest cent.

FlashKick Company
Sales Budget
For the First Quarter
January February March Quarter
Practice ball:
Units
Unit price $ $ $ $
Sales $ $ $ $
Match ball:
Units
Unit price $ $ $ $
Sales $ $ $ $
Tournament ball:
Units
Unit price $ $ $ $
Sales $ $ $ $
Total sales $ $ $ $

Solutions

Expert Solution

Answer:

1. Sales budget for FlashKick for the first three months ( Practice Balls + Match Balls )

FlashKick Company
Sales Budget
For the First Quarter of Next Year
January February March Quarter
Practice ball:
Units 50,000 56,000 80,000
Unit price $8.25 $8.25 $8.25
Sales $412,500 $462,000 $660,000 $1,534,500
Match ball:
Units 7,000 7,500 13,000
Unit price $15 $15 $15
Sales $105,000 $112,500 $195,000 $412,500
Total sales $517,500 $574,500 $855,000 $1,947,000

2. Sales budget for FlashKick for the first three months ( Practice Balls + Match Balls + Tournament ball )

Units of Tournament balls sold in January = 40% of January match balls units = 7,000 units * 40% = 2,800 units

Units of Tournament balls sold in February = 40% of February match balls units = 7,500 units * 40% = 3,000 units

Units of Tournament balls sold in March = 40% of March match balls units = 13,000 units * 40% = 5,200 units

FlashKick Company
Sales Budget
For the First Quarter
January February March Quarter
Practice ball:
Units 50,000 56,000 80,000
Unit price $8.25 $8.25 $8.25
Sales $412,500 $462,000 $660,000 $1,534,500
Match ball:
Units 7,000 7,500 13,000
Unit price $15 $15 $15
Sales $105,000 $112,500 $195,000 $412,500
Tournament ball:
Units 2,800 3,000 5,200
Unit price $42 $42 $45
Sales $117,600 $126,000 $234,000 $477,600
Total sales $635,100 $700,500 $1,089,900 $2,424,600

Related Solutions

Sales Budget FlashKick Company manufactures and sells soccer balls for teams of children in elementary and...
Sales Budget FlashKick Company manufactures and sells soccer balls for teams of children in elementary and high school. FlashKick’s best-selling lines are the practice ball line (durable soccer balls for training and practice) and the match ball line (high-performance soccer balls used in games). In the first four months of next year, FlashKick expects to sell the following: Practice Balls Match Balls Units Selling Price Units Selling Price January 50,000 $8.25 7,000 $15.00 February 56,000 $8.25 7,500 $15.00 March 80,000...
Sales Budget FlashKick Company manufactures and sells soccer balls for teams of children in elementary and...
Sales Budget FlashKick Company manufactures and sells soccer balls for teams of children in elementary and high school. FlashKick’s best-selling lines are the practice ball line (durable soccer balls for training and practice) and the match ball line (high-performance soccer balls used in games). In the first four months of next year, FlashKick expects to sell the following: Practice Balls Match Balls Units Selling Price Units Selling Price January 50,000 $8.25 7,000 $15.00 February 56,000 $8.25 7,500 $15.00 March 80,000...
Sales Budget FlashKick Company manufactures and sells soccer balls for teams of children in elementary and...
Sales Budget FlashKick Company manufactures and sells soccer balls for teams of children in elementary and high school. FlashKick’s best-selling lines are the practice ball line (durable soccer balls for training and practice) and the match ball line (high-performance soccer balls used in games). In the first four months of next year, FlashKick expects to sell the following: Practice Balls Match Balls Units Selling Price Units Selling Price January 50,000 $8.75 7,000 $16.00 February 58,000 $8.75 7,500 $16.00 March 80,000...
Sales Budget FlashKick Company manufactures and sells soccer balls for teams of children in elementary and...
Sales Budget FlashKick Company manufactures and sells soccer balls for teams of children in elementary and high school. FlashKick’s best-selling lines are the practice ball line (durable soccer balls for training and practice) and the match ball line (high-performance soccer balls used in games). In the first four months of next year, FlashKick expects to sell the following: ____________Practice Balls_______________ Match Balls _______Units_________ Selling Price________ Units _________Selling Price January ____50,000 ______$8.25____________ 7,000 _________$16.00 February___ 58,000______ $8.25____________ 7,500_________ $16.00 March _____80,000______...
Sales Budget FlashKick Company manufactures and sells soccer balls for teams of children in elementary and...
Sales Budget FlashKick Company manufactures and sells soccer balls for teams of children in elementary and high school. FlashKick’s best-selling lines are the practice ball line (durable soccer balls for training and practice) and the match ball line (high-performance soccer balls used in games). In the first four months of next year, FlashKick expects to sell the following: __________Practice Balls_______________________Match Balls _____Units _______Selling Price __________Units ________Selling Price January ____50,000 _____$8.25__________7,000 ___________$16.00 February ___58,000_____ $8.25_________ 7,500____________ $16.00 March_____ 80,000_____ $8.25________ 13,000____________...
Sales Budget FlashKick Company manufactures and sells soccer balls for teams of children in elementary and...
Sales Budget FlashKick Company manufactures and sells soccer balls for teams of children in elementary and high school. FlashKick’s best-selling lines are the practice ball line (durable soccer balls for training and practice) and the match ball line (high-performance soccer balls used in games). In the first four months of next year, FlashKick expects to sell the following: ___________________Practice Balls__________________________________ Match Balls _______________Units________________ Selling Price________________ Units __________________Selling Price January _________50,000 ________________$8.25_____________________ 7,000 __________________$16.00 February__________ 58,000______________ $8.25_____________________ 7,500___________________ $16.00 March ____________80,000_______________...
Production Budget Flashkick Company Manufactures and sells soccer balls for teams of children in elementary and...
Production Budget Flashkick Company Manufactures and sells soccer balls for teams of children in elementary and high school. Flashkick's best selling lines are the practice ball line (durable soccer balls for training and practice) and the match ball line (high-performance soccer balls used in games). In the first four months of next year, Flashkick expects to sell the following: ___________Practice Balls_______________________Match Balls _________Units_________selling price________units________selling price January ___50,000_________$8.75__________7000___________$16.00 February___58000_________$8.75__________8000___________$16.00 March _____70000_________$8.75_________12000___________$16.00 April______100000_________$8.75_________18000___________$16.00 Flashkick requires ending inventory of product to equal 20...
Direct Materials Purchases Budget FlashKick Company manufactures and sells soccer balls for teams of children in...
Direct Materials Purchases Budget FlashKick Company manufactures and sells soccer balls for teams of children in elementary and high school. FlashKick’s best-selling lines are the practice ball line (durable soccer balls for training and practice) and the match ball line (high-performance soccer balls used in games). In the first four months of next year, FlashKick expects to sell the following: Practice Balls Match Balls Units Selling Price Units Selling Price January 43,000 $8.85 6,400 $17.40 February 60,000 $8.85 8,000 $17.40...
Direct Materials Purchases Budget FlashKick Company manufactures and sells soccer balls for teams of children in...
Direct Materials Purchases Budget FlashKick Company manufactures and sells soccer balls for teams of children in elementary and high school. FlashKick’s best-selling lines are the practice ball line (durable soccer balls for training and practice) and the match ball line (high-performance soccer balls used in games). In the first four months of next year, FlashKick expects to sell the following: Practice Balls Match Balls Units Selling Price Units Selling Price January 41,000 $8.80 6,800 $16.30 February 55,000 $8.80 7,900 $16.30...
Direct Materials Purchases Budget FlashKick Company manufactures and sells soccer balls for teams of children in...
Direct Materials Purchases Budget FlashKick Company manufactures and sells soccer balls for teams of children in elementary and high school. FlashKick’s best-selling lines are the practice ball line (durable soccer balls for training and practice) and the match ball line (high-performance soccer balls used in games). In the first four months of next year, FlashKick expects to sell the following: Practice Balls Match Balls Units Selling Price Units Selling Price January 50,000 $8.75 7,000 $16.00 February 58,000 $8.75 7,500 $16.00...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT