ales 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 6,000 $15.00 February 58,000 $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: Question Content Area 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 CompanySales BudgetFor the First Quarter of Next Year January February March Quarter Practice ball: Units fill in the blank 24b90d0bf05bfb3_1 fill in the blank 24b90d0bf05bfb3_2 fill in the blank 24b90d0bf05bfb3_3 fill in the blank 24b90d0bf05bfb3_4 Unit price $fill in the blank 24b90d0bf05bfb3_5 $fill in the blank 24b90d0bf05bfb3_6 $fill in the blank 24b90d0bf05bfb3_7 $fill in the blank 24b90d0bf05bfb3_8 Sales $fill in the blank 24b90d0bf05bfb3_9 $fill in the blank 24b90d0bf05bfb3_10 $fill in the blank 24b90d0bf05bfb3_11 $fill in the blank 24b90d0bf05bfb3_12 Match ball:
ales 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 6,000 $15.00 February 58,000 $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: Question Content Area 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 CompanySales BudgetFor the First Quarter of Next Year January February March Quarter Practice ball: Units fill in the blank 24b90d0bf05bfb3_1 fill in the blank 24b90d0bf05bfb3_2 fill in the blank 24b90d0bf05bfb3_3 fill in the blank 24b90d0bf05bfb3_4 Unit price $fill in the blank 24b90d0bf05bfb3_5 $fill in the blank 24b90d0bf05bfb3_6 $fill in the blank 24b90d0bf05bfb3_7 $fill in the blank 24b90d0bf05bfb3_8 Sales $fill in the blank 24b90d0bf05bfb3_9 $fill in the blank 24b90d0bf05bfb3_10 $fill in the blank 24b90d0bf05bfb3_11 $fill in the blank 24b90d0bf05bfb3_12 Match ball:
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter8: Budgeting For Planning And Control
Section: Chapter Questions
Problem 2CE: Refer to Cornerstone Exercise 8.1, through Requirement 1. FlashKick requires ending inventory of...
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Concept explainers
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.
Question
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 | 6,000 | $15.00 | |||
| February | 58,000 | $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:
Question Content Area
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.
| January | February | March | Quarter | |
|---|---|---|---|---|
| Practice ball: | ||||
| Units | fill in the blank 24b90d0bf05bfb3_1 | fill in the blank 24b90d0bf05bfb3_2 | fill in the blank 24b90d0bf05bfb3_3 | fill in the blank 24b90d0bf05bfb3_4 |
| Unit price | $fill in the blank 24b90d0bf05bfb3_5 | $fill in the blank 24b90d0bf05bfb3_6 | $fill in the blank 24b90d0bf05bfb3_7 | $fill in the blank 24b90d0bf05bfb3_8 |
| Sales | $fill in the blank 24b90d0bf05bfb3_9 | $fill in the blank 24b90d0bf05bfb3_10 | $fill in the blank 24b90d0bf05bfb3_11 | $fill in the blank 24b90d0bf05bfb3_12 |
| Match ball: | ||||
| Units | fill in the blank 24b90d0bf05bfb3_13 | fill in the blank 24b90d0bf05bfb3_14 | fill in the blank 24b90d0bf05bfb3_15 | fill in the blank 24b90d0bf05bfb3_16 |
| Unit price | $fill in the blank 24b90d0bf05bfb3_17 | $fill in the blank 24b90d0bf05bfb3_18 | $fill in the blank 24b90d0bf05bfb3_19 | $fill in the blank 24b90d0bf05bfb3_20 |
| Sales | $fill in the blank 24b90d0bf05bfb3_21 | $fill in the blank 24b90d0bf05bfb3_22 | $fill in the blank 24b90d0bf05bfb3_23 | $fill in the blank 24b90d0bf05bfb3_24 |
| Total sales | $fill in the blank 24b90d0bf05bfb3_25 | $fill in the blank 24b90d0bf05bfb3_26 | $fill in the blank 24b90d0bf05bfb3_27 | $fill in the blank 24b90d0bf05bfb3_28 |
Question Content Area
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.
| January | February | March | Quarter | |
|---|---|---|---|---|
| Practice ball: | ||||
| Units | fill in the blank dd0f3cfaa020ff8_1 | fill in the blank dd0f3cfaa020ff8_2 | fill in the blank dd0f3cfaa020ff8_3 | fill in the blank dd0f3cfaa020ff8_4 |
| Unit price | $fill in the blank dd0f3cfaa020ff8_5 | $fill in the blank dd0f3cfaa020ff8_6 | $fill in the blank dd0f3cfaa020ff8_7 | $fill in the blank dd0f3cfaa020ff8_8 |
| Sales | $fill in the blank dd0f3cfaa020ff8_9 | $fill in the blank dd0f3cfaa020ff8_10 | $fill in the blank dd0f3cfaa020ff8_11 | $fill in the blank dd0f3cfaa020ff8_12 |
| Match ball: | ||||
| Units | fill in the blank dd0f3cfaa020ff8_13 | fill in the blank dd0f3cfaa020ff8_14 | fill in the blank dd0f3cfaa020ff8_15 | fill in the blank dd0f3cfaa020ff8_16 |
| Unit price | $fill in the blank dd0f3cfaa020ff8_17 | $fill in the blank dd0f3cfaa020ff8_18 | $fill in the blank dd0f3cfaa020ff8_19 | $fill in the blank dd0f3cfaa020ff8_20 |
| Sales | $fill in the blank dd0f3cfaa020ff8_21 | $fill in the blank dd0f3cfaa020ff8_22 | $fill in the blank dd0f3cfaa020ff8_23 | $fill in the blank dd0f3cfaa020ff8_24 |
| Tournament ball: | ||||
| Units | fill in the blank dd0f3cfaa020ff8_25 | fill in the blank dd0f3cfaa020ff8_26 | fill in the blank dd0f3cfaa020ff8_27 | fill in the blank dd0f3cfaa020ff8_28 |
| Unit price | $fill in the blank dd0f3cfaa020ff8_29 | $fill in the blank dd0f3cfaa020ff8_30 | $fill in the blank dd0f3cfaa020ff8_31 | $fill in the blank dd0f3cfaa020ff8_32 |
| Sales | $fill in the blank dd0f3cfaa020ff8_33 | $fill in the blank dd0f3cfaa020ff8_34 | $fill in the blank dd0f3cfaa020ff8_35 | $fill in the blank dd0f3cfaa020ff8_36 |
| Total sales | $fill in the blank dd0f3cfaa020ff8_37 | $fill in the blank dd0f3cfaa020ff8_38 | $fill in the blank dd0f3cfaa020ff8_39 | $fill in the blank dd0f3cfaa020ff8_40 |
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