Question

Sheffield Inc. is preparing its annual budgets for the year ending December 31, 2017. Accounting assistants furnish the data shown below. Product JB 50 Product JB 60 Sales budget:     Anticipated volume in units 403,200 203,400     Unit selling price $22 $28 Production budget:     Desired ending finished goods units 26,700 19,700     Beginning finished goods units 32,500 11,400 Direct materials budget:     Direct materials per unit (pounds) 2 2     Desired ending direct materials pounds 34,300 19,500     Beginning direct materials pounds 44,300 11,200     Cost per pound $3 $3 Direct labor budget:     Direct labor time per unit 0.4 0.6     Direct labor rate per hour $12 $12 Budgeted income statement:     Total unit cost $13 $21 An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget. The latter shows selling expenses of $663,000 for product JB 50 and $364,000 for product JB 60, and administrative expenses of $542,000 for product JB 50 and $341,000 for product JB 60. Interest expense is $150,000 (not allocated to products). Income taxes are expected to be 30%.

(a) Prepare the sales budget for the year. SHEFFIELD INC. Sales Budget

		JB 50		JB 60		Total
Expected unit sales
Unit selling price		$		$
Total sales		$		$		$

Answer 1

ANSWER

Sales Budget - Sheffield Inc.
Particulars	JB50	JB60	Total
Expected unit sales	403,200.00	203,400.00
Selling price per unit	$22.00	$28.00
Projected Sales Revenue	$8,870,400.00	$5,695,200.00	$14,565,600.00

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