Question

In: Accounting

Sonic Inc. manufactures two models of speakers, Rumble and Thunder. Based on the following production and...

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 1 260 64
Desired inventory (units), June 30 299 56
Expected sales volume (units):
Midwest Region 3,650 3,200
South Region 4,900 4,250
Unit sales price $145 $185

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
Total $
Model: Thunder
Midwest Region $ $
South Region
Total $
Total revenue from sales $

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
Desired inventory, June 30
Total units available
Estimated inventory, June 1
Total units to be produced

Solutions

Expert Solution

Sonic Inc.
Sales Budget
For the Month Ending June 30
Unit Sales
Volume
(A)
Unit Selling price
(B)
Total Sales
(A x B )
Model: Rumble
      Midwest Region 3,650 $ 145 $ 529,250
       South Region 4,900 $ 145 $ 710,500
Total $ 1,239,750
Model : Thunder
      Midwest Region 3,200 $ 185 $ 592,000
       South Region 4,250 $ 185 $ 786,250
Total $ 1,378,250
Total revenue from sales $ 2,618,000
SONIC INC.
Production Budget
For the Month Ending June 30
Units Rumble Units Thunder
Expected units to be sold 8,550
( 3,650 + 4,900 )
7,450
( 3,200 + 4,250 )
Add:Desired inventory (units), June 30 299 56
Total units required 8,849 7,506
Less: Estimated inventory (units), June 1 -260 -64
Total Units to be produced 8,589 7,442

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