Walton Corporation, which has three divisions, is preparing its sales budget. Each division expects a different growth rate because economic conditions vary in different regions of the country. The growth expectations per quarter are 6 percent for Cummings Division, 4 percent for Springfield Division, and 8 percent for Douglas Division. Required a. Complete the sales budget by filling in the missing amounts. b. Determine the amount of sales revenue that the company will report on quarterly pro forma income statements. Complete this question by entering your answers in the tabs below. Required A Required B Complete the sales budget by filling in the missing amounts. (Round your final answers to the nearest whole dollar amount.) Second Fourth Division First Quarter Third Quarter Quarter Quarter Cummings Division 24 150,000 Springfield Division 300,000 Douglas Division 280,000

Q: Daybreak Technologies Inc. uses flexible budgets that are based on the following data: Sales…

A: Solution: Flexible selling and administrative expense budget is as under:

Q: The marketing department of Jessi Corporation has submitted the following sales forecast for the…

A: The sales budget is prepared to estimate the total sales for the current period.

Q: Gibson Company, which expects to start operations on January 1, year 2, will sell digital cameras in…

A: Here in this question, we are required to prepare sales budget and need to determine how much…

Q: Perez Company, which expects to start operations on January 1, year 2, will sell digital cameras in…

A: As sales will increase by 14% per month, both cash sales and credit sales will be increased.

Q: Executive officers of Thornton Company are wrestling with their budget for the next year. The…

A: It is given in the question that cost of goods sold is 65% of sales. hence multiply each quarter…

Q: Jordan Company, which expects to start operations on January 1, year 2, will sell digital cameras in…

A: A budget is an estimation of expected revenue and expenses on the basis of previous experience. It…

Q: Using sensitivity analysis Holly Company prepared the following budgeted income statement for the…

A: Requirement 1:   In order to prepare the budgeted income statement as in Option1, the sales revenue…

Q: You are working as a financial analyst for XYZ Co. , and you prepared the following sales and cash…

A: A cash budget is prepared to keep the track of available funds and where the same can be utilized to…

Q: The marketing department of Jessi Corporation has submitted the following sales forecast for the…

A: Firstly we shall prepare the sales budget to calculate the estimated sales for each quarter. Then we…

Q: Herbal Care Corp., a distributor of herb-based sunscreens, is ready to begin its third quarter, in…

A: Cash budget is a budget that is prepared to estimate the cash inflows and cash outflows for a…

Q: The marketing department of Jessi Corporation has submitted the following sales forecast for the…

A: Budgets are the quantitative course of action estimated for future period. Sales budget is one of…

Q: Top executive officers of Tildon Company, a merchandising firm, are preparing the next year's…

A: An income statement is a financial report that indicates the revenue and expenses of a business. It…

Q: Upon receipt of the budget, the team manager, June Jackson, has now informed you that, in keeping…

A: Cash Budget The purpose of preparing the cash budget to know the movement of total cash inflows and…

Q: Upon receipt of the budget (attached below), the team manager, June Jackson, has now informed you…

A: The question is related to the Cash Budget. The Cash Budget is the Statement of Cash Receipts and…

Q: Digital Solutions Inc. uses flexible budgets that are based on the following data: Sales…

A: The flexible budget is a dynamic budget which can be adjusted according to the changes in volume.…

Q: The marketing department of Jessi Corporation has submitted the following sales forecast for the…

A: Working: Schedule of cash collections   1 2 3 4 Total Accounts Receivable,…

Q: Assume that you manage one store in a chain of sporting goods retailers. Each month, your store is…

A: The actual sales and other costs of a company are compared with the budgeted figure. The difference…

Q: Zachry Berhad, an office supplies specialty store, prepares its operating budget on a quarterly…

A: Comments; Multiple Questions asked  Sales Budget - This budget represents the target to the achieved…

Q: The financial controller of ABC Co. Ltd., Mr.Osei Antwi-Boasiako is gathering data to prepare a cash…

A: Cash budget is prepared to find all the cash related transactions estimated so as to calculate if…

Q: The marketing department of Jessi Corporation has submitted the following sales forecast for the…

A: 1. Expected Cash Collections - Expected cash collection is the amount received from the customer in…

Q: Upon receipt of the budget, the team manager, June Jackson, has now informed you that, in keeping…

A: The question is related to Cash Budget. The Cash Budget is the Statement of Cash Receipts and Cash…

Q: As a result of this increase in sales, would you expect any other items to come in over (or under)…

A: The actual sales and other costs of a company are compared with the budgeted figure. The difference…

Q: The marketing department of Jessi Corporation has submitted the following sales forecast for the…

A: Production Budgeting is a type of financial planning that refers to the number of units of goods…

Q: Gibson Corporation, which has three divisions, is preparing its sales budget. Each division expects…

A: Here next quarter  sales = previous quarter  sales + % increase

Q: The marketing department of Jessi Corporation has submitted the following sales forecast for the…

A: Total Sales = Budgeted Unit Sales*Selling Price per unit     1st Quarter  2nd Quarter 3rd quarter…

Q: he marketing department of XYZ Corporation has submitted the following sales forecast for the…

A: Budgets are prepared to estimate the amount of sales, cash collection, cash payments, and production…

Q: Herbal Care Corp., a distributor of herb-based sunscreens, is ready to begin its third quarter, in…

A: Schedule of expected cash collections is the statement prepared to know the estimated collections…

Q: Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has…

A: Cash budget is one of the important budget in business, which shows expected cash receipts ,…

Q: Jordan Corporation, which has three divisions, is preparing its sales budget. Each division expects…

A: Sales budget is the budget which estimated the sales for the future financial year and this budget…

Q: The marketing department of Jessi Corporation has submitted the following sales forecast for the…

A: Budgeting: It is a process of planning the work to be performed. Under this process a formal plan is…

Q: The marketing department of Jessi Corporation has submitted the following sales forecast for the…

A:

Q: The marketing department of Jessi Corporation has submitted the following sales forecast for the…

A: 1. Jessi Corporation Company's Total Sales  Particulars Ist Quarter 2nd quarter 3rd quarter…

Q: The next two questions are based on the following information: Herald company, a jacket selling…

A: The income statement is prepared to record the revenues and expenses of the current period and find…

Q: A company is formulating its marketing expense budget for the last quarter of the year. Sales in…

A: Budget:   Budget is an effective tool to present the estimated actions for future time period. It…

Q: The marketing department of Jessi Corporation has submitted the following sales forecast for the…

A: Budgeted Sales = Bud. Unit sales x Selling Price per unit   Production Budget=   Budgeted unit sales…

Q: he data shown were obtained from the financial records of Italian Exports, Inc., for March:…

A: Financial records are those documents which reflect or summarize business transactions.A proper well…

Q: The marketing department of Jessi Corporation has submitted the following sales forecast for the…

A: The sales budget has been computed as follows

Q: Top executive officers of Tildon Company, a merchandising firm, are preparing the next year’s…

A: Solution: (a).             Let the expected sales revenue be x…

Q: You are working as a financial analyst for XYZ Co. , and you prepared the following sales and cash…

A: Cash budget helps the management in identifying future surplus or deficit of cash by estimating cash…

Q: Accepting that there is now a greater need to plan properly for the future, Management has sought…

A: Budgeting means to formulate a plan for future revenues and expenses.

Q: The data shown were obtained from the financial records of Italian Exports, Inc., for March:…

A: The direct expenses of manufacturing the goods supplied by a business are referred to as the cost of…

Q: ABC plc, a group operating retail stores, is compiling its budget statements for the next year. In…

A: Introduction:- ABC plc, a retailer, is putting out its financial statements for the coming year.…

Q: Perez Company, which expects to start operations on January 1, 2018, will sell digital cameras in…

A: Given: Cash Sales for January $46000 Credit sales for January $116000 12% in sales per month for…

Q: The marketing department of Jessi Corporation has submitted the following sales forecast for the…

A: Selling price = $22 Beginning balance of accounts receivable = $72,800 Collections 75% in the…

Q: The executive management team of Fett Company is discussing their budget for the next year. They…

A: Cost of goods sold means that value of opening stock plus purchases minus closing stock but cost of…

Q: The budget committee of Blossom Company collects the following data for its San Miguel Store in…

A: A budgeted income statement refers to the statement prepared to know the future performance of the…

Q: Herbal Care Corp., a distributor of herb-based sunscreens, is ready to begin its third quarter, in…

A: A cash budget is a budget or plan of expected cash receipts and disbursements during a period.

Q: ABC plc, a group operating retail stores, is compiling its budget statements for the next year. In…

A: Introduction:- ABC plc, a retailer, is putting out its financial statements for the coming year.…

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.