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.

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

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