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UR FULL ALL PRUNTER VERSION * BACK NEXES Problem 13 3 (Part Level Submission) Cheyenne Industries had sales in 2016 of $7,680,000 and gross profit of $1,140,000. Management is considering two alternative budget plans to increase its gross profit 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 B would decrease the selling price per unit by $0.50. The marketing department expects that the sales volume would increase by 111,000 units. At the end of 2016, Cheyenne has 42,000 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 B is accepted, the ending inventory should be equal to 72,000 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 2017 should be $1,207,000 (a) Prepare a sales budget for 2017 under each plan. (Round Unit selling price answers to 2 decimal places, e.g. 52.70.) CHEYENNE INDUSTRIES Sales Budget Plan A Plan B Expected unit sales Unit selling price $ $ Total sales $ $ Click if you would like to Show Work for this question: Ooen Show. Work