(b) Prepare a production budget for 2017 under each plan. CONCORD INDUSTRIES Production Budget Plan A Plan B e Textbook and Media Syve for Later Attempts: 0 of 3 used Submi (c) The parts of this question must be completed in order. This part will be available when you complete the part above, Concord Industries had sales in 2016 of $7,520,000 and gross profit of $1.233,000. Management is considering two alternative budget plans to increase its gross proht in 2017. Plan A would increase the selling price per unit from $8.00 to $8.40. Sales volume would decrease by 10% from its 2016 level. Plan Bwould decrease the selling price per unit by $0.50. The marketing department expects that the sales volume would increase by 119,000 units. At the end of 2016, Concord has 43.000 units of inventory on hand. If Plan A is accepted, the 2017 ending inventory should be equal to 5% of the 2017 sales. If Plan Bis accepted the ending inventory should be equal to 63,000 units. Each unit produced will cost $1.80 in direct labor, $1.40 in direct materials, and $1.20 in variable overhead. The foed overhead for 2017 should be $1,375,000. (a) Your answePts partially correct Prepare a sales budget for 2017 under each plan. (Round Unit selling price answers to 2 decimal places, es 52.70) CONCORD INDUSTRIES Sales Budget For the Year Endine December 31, 2017 Plan A Plan B Expected unit sales 346000 1059000 Unit selling price 8:40 750