Business, 27.05.2020 17:59 coolcat3190

5-31 Integrated sales budget, production budget, and purchases budget (LO 3)

Simmons Enterprises is a boutique guitar manufacturer. The company produces both acoustic and electric guitars for rising and establish professional musicians. Vanessa Aaron, the company’s sales manager, prepared the following sales forecast for 2018. The forecasted sales prices include a 5% increase in the acoustic guitar price and a 10Z% increase in the electric guitar price, to cover anticipated increases in raw materials prices.

Sales price

1st quarter

2nd quarter

3rd quarter

4th quarter

Acoustic guitar sales

$1,250

200

280

300

325

Electric guitar sales

$2,400

400

350

320

360

Required

a. Prepare Simmon’s sales budget for 2018.

b. On December 31, 2017, Simmons 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 2019. Prepare the 2018 production budget for acoustic guitars.

Answers: 3

Show answers

Another question on Business

Business, 21.06.2019 20:30

Suppose the price of a complement to lcd televisions rises. what effect will this have on the market equilibrium for lcd tvs?

Answers: 1

Answer

Business, 22.06.2019 06:30

73. calculate the weighted average cost of capital (wacc) based on the following information: the equity multiplier is 1.66; the interest rate on debt is 13%; the required return to equity holders is 22%; and the tax rate is 35%. (a) 15.6% (b) 16.0% (c) 15.0% (d) 16.6% (e) none of the above

Answers: 2

Answer

Business, 22.06.2019 13:20

Last year, johnson mills had annual revenue of $37,800, cost of goods sold of $23,200, and administrative expenses of $6,300. the firm paid $700 in dividends and had a tax rate of 35 percent. the firm added $2,810 to retained earnings. the firm had no long-term debt. what was the depreciation expense?

Answers: 2

Answer

Business, 23.06.2019 13:30

Amarginally attached worker is a person who is not happy with his or her job. someone who works part-time more than 25 hours per week but wants full-time work. someone who does not have a job but is available and willing to work and has made specific but unsuccessful efforts to find a job during the past 4 weeks. someone who does not have a job but is available and willing to work but has not made specific efforts to find a job during the past 4 weeks. another name for an unemployed worker.

Answers: 2

Answer

You know the right answer?

5-31 Integrated sales budget, production budget, and purchases budget (LO 3)

Simmons En...

Questions