Sales and Production Budgets 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 1 251   75 Desired inventory (units), June 30 289   65 Expected sales volume (units):       Midwest Region 3,050   2,700 South Region 5,200   5,900 Unit sales price $100   $225 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 fill in the blank 37538e05204505f_1 $fill in the blank 37538e05204505f_2 $fill in the blank 37538e05204505f_3 South Region fill in the blank 37538e05204505f_4 fill in the blank 37538e05204505f_5 fill in the blank 37538e05204505f_6 Total fill in the blank 37538e05204505f_7   $fill in the blank 37538e05204505f_8 Model: Thunder       Midwest Region fill in the blank 37538e05204505f_9 $fill in the blank 37538e05204505f_10 $fill in the blank 37538e05204505f_11 South Region fill in the blank 37538e05204505f_12 fill in the blank 37538e05204505f_13 fill in the blank 37538e05204505f_14 Total fill in the blank 37538e05204505f_15   $fill in the blank 37538e05204505f_16 Total revenue from sales     $fill in the blank 37538e05204505f_17 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   fill in the blank 9adaa7064060043_2 fill in the blank 9adaa7064060043_3   fill in the blank 9adaa7064060043_5 fill in the blank 9adaa7064060043_6 Total units available fill in the blank 9adaa7064060043_7 fill in the blank 9adaa7064060043_8   fill in the blank 9adaa7064060043_10 fill in the blank 9adaa7064060043_11 Total units to be produced fill in the blank 9adaa7064060043_12 fill in the blank 9adaa7064060043_13

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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.