Current Attempt in Progress Crane Company's master budget reflects budgeted sales information for the month of June, 2022 as follows: Budgeted Unit Sales Price Budgeted Quantity Product A 42,600 $7 Product B 49,300 $9 During June, the company actually sold 40,300 units of Product A at an average unit selling price of $7.10 and 52,200 units of Product B at an average unit price of $8.90. Prepare a Sales Budget Report for the month of June for Crane Company which shows whether the company achieved its planned objectives. Product Line Product $ A Product Budget CRANE COMPANY Sales Budget Report For the Month Ended June 30, 2022 Actual Difference Favorable (F) Unfavorable (U) Not Applicable (NA) $ $ B Total $ $ $ Sales U F NA
Current Attempt in Progress Crane Company's master budget reflects budgeted sales information for the month of June, 2022 as follows: Budgeted Unit Sales Price Budgeted Quantity Product A 42,600 $7 Product B 49,300 $9 During June, the company actually sold 40,300 units of Product A at an average unit selling price of $7.10 and 52,200 units of Product B at an average unit price of $8.90. Prepare a Sales Budget Report for the month of June for Crane Company which shows whether the company achieved its planned objectives. Product Line Product $ A Product Budget CRANE COMPANY Sales Budget Report For the Month Ended June 30, 2022 Actual Difference Favorable (F) Unfavorable (U) Not Applicable (NA) $ $ B Total $ $ $ Sales U F NA
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter9: Profit Planning And Flexible Budgets
Section: Chapter Questions
Problem 34BEA: Performance Report Based on Budgeted and Actual Levels of Production Bowling Company budgeted the...
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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
Transcribed Image Text:Current Attempt in Progress
Crane Company's master budget reflects budgeted sales information for the month of June, 2022 as follows:
Budgeted
Quantity
Budgeted Unit
Sales Price
Product A 42,600
$7
Product B 49,300
$9
During June, the company actually sold 40,300 units of Product A at an average unit selling price of $7.10 and 52,200 units of
Product B at an average unit price of $8.90.
Prepare a Sales Budget Report for the month of June for Crane Company which shows whether the company achieved its planned
objectives.
Product
Line
Product
$
A
Product
Budget
CRANE COMPANY
Sales Budget Report
For the Month Ended June 30, 2022
Actual
Difference
Favorable (F)
Unfavorable (U)
Not Applicable (NA)
$
$
B
Total
$
$
$
Sales
U
F
NA
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