Question: I need help computing the sales budget please: Problem 24-03A a-b, ci, d (Part Level Submission) (Video) Hill Industries had sales in 2019 of $7,520,000

I need help computing the sales budget please:

I need help computing the sales budget please: Problem 24-03A a-b, ci,

Problem 24-03A a-b, ci, d (Part Level Submission) (Video) Hill Industries had sales in 2019 of $7,520,000 and gross profit of $1,204,000. Management is considering two alternative budget plans to increase its gross profit in 2020. Plan A would increase the selling price per unit from $8.00 to $8.40. Sales volume would decrease by 10% from its 2019 level. Plan B would decrease the selling price per unit by $0.50. The marketing department expects that the sales volume would increase by 117,000 units. At the end of 2019, Hill has 42,000 units of inventory on hand. If Plan A is accepted, the 2020 ending inventory should be equal to 5% of the 2020 sales. If Plan B is accepted, the ending inventory should be equal to 71,000 units. Each unit produced will cost $1.80 in direct labor, $1.40 in direct materials, and $1.20 in variable overhead. The fixed overhead for 2020 should be $1,641,822. v (a) Your answer is partially correct. Try again. Prepare a sales budget for 2020 under each plan. (Round Unit selling price answers to 2 decimal places, e.g. 52.70.) HILL INDUSTRIES Sales Budget For the Year Ending December 31, 2020 Plan A Plan B Unit Selling Price 8.40 7.50 Expected Unit Sales 940000 1057000 Total Sales 7896000 7927500

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