Question 1 of 5 View Policies Current Attempt in Progress < Concord Industries had sales in...

   

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Question 1 of 5 View Policies Current Attempt in Progress < Concord Industries had sales in 2021 of $5,480,800 and gross profit of $886,600. Management is considering two alternative budget plans to increase its gross profit in 2022. (a) > Plan A would increase the unit selling price from $8.00 to $8.40. Sales volume would decrease by 100,750 units from its 2021 level. Plan B would decrease the unit selling price by $0.50. The marketing department expects that the sales volume would increase by 104,780 units. At the end of 2021, Concord has 32,240 units of inventory on hand. If Plan A is accepted, the 2022 ending inventory should be 28,210 units. If Plan B is accepted, the ending inventory should be equal to 48,360 units. Each unit produced will cost $1.5 in direct labor, $1.3 in direct materials, and $1.2 in variable overhead. The fixed overhead for 2022 should be $1,527,370. Prepare a sales budget for 2022 under each plan. (Round Unit selling price answers to 2 decimal places, e.g. 52.70.) eTextbook and Media Save for Later $ $ CONCORD INDUSTRIES Sales Budget Plan A $ - /2 $ Plan B Attempts: 0 of 5 used Submit Answer Question 1 of 5 View Policies Current Attempt in Progress < Concord Industries had sales in 2021 of $5,480,800 and gross profit of $886,600. Management is considering two alternative budget plans to increase its gross profit in 2022. (a) > Plan A would increase the unit selling price from $8.00 to $8.40. Sales volume would decrease by 100,750 units from its 2021 level. Plan B would decrease the unit selling price by $0.50. The marketing department expects that the sales volume would increase by 104,780 units. At the end of 2021, Concord has 32,240 units of inventory on hand. If Plan A is accepted, the 2022 ending inventory should be 28,210 units. If Plan B is accepted, the ending inventory should be equal to 48,360 units. Each unit produced will cost $1.5 in direct labor, $1.3 in direct materials, and $1.2 in variable overhead. The fixed overhead for 2022 should be $1,527,370. Prepare a sales budget for 2022 under each plan. (Round Unit selling price answers to 2 decimal places, e.g. 52.70.) eTextbook and Media Save for Later $ $ CONCORD INDUSTRIES Sales Budget Plan A $ - /2 $ Plan B Attempts: 0 of 5 used Submit Answer Prepare a production budget for 2022 under each plan. (c1) Production cost per unit $ (d). Compute the production cost per unit under each plan. (Round answers to 2 decimal places, e.g. 1.25.) Gross Profit $ Plan A SHERIDAN INDUSTRIES Production Budget Which plan should be accepted? should be accepted. Plan A Plan A Compute the gross profit under each plan. (Round answers to 0 decimal places, e.g. 125.) $ $ Plan B Plan B Plan B Question 1 of 5 View Policies Current Attempt in Progress < Concord Industries had sales in 2021 of $5,480,800 and gross profit of $886,600. Management is considering two alternative budget plans to increase its gross profit in 2022. (a) > Plan A would increase the unit selling price from $8.00 to $8.40. Sales volume would decrease by 100,750 units from its 2021 level. Plan B would decrease the unit selling price by $0.50. The marketing department expects that the sales volume would increase by 104,780 units. At the end of 2021, Concord has 32,240 units of inventory on hand. If Plan A is accepted, the 2022 ending inventory should be 28,210 units. If Plan B is accepted, the ending inventory should be equal to 48,360 units. Each unit produced will cost $1.5 in direct labor, $1.3 in direct materials, and $1.2 in variable overhead. The fixed overhead for 2022 should be $1,527,370. Prepare a sales budget for 2022 under each plan. (Round Unit selling price answers to 2 decimal places, e.g. 52.70.) eTextbook and Media Save for Later $ $ CONCORD INDUSTRIES Sales Budget Plan A $ - /2 $ Plan B Attempts: 0 of 5 used Submit Answer Question 1 of 5 View Policies Current Attempt in Progress < Concord Industries had sales in 2021 of $5,480,800 and gross profit of $886,600. Management is considering two alternative budget plans to increase its gross profit in 2022. (a) > Plan A would increase the unit selling price from $8.00 to $8.40. Sales volume would decrease by 100,750 units from its 2021 level. Plan B would decrease the unit selling price by $0.50. The marketing department expects that the sales volume would increase by 104,780 units. At the end of 2021, Concord has 32,240 units of inventory on hand. If Plan A is accepted, the 2022 ending inventory should be 28,210 units. If Plan B is accepted, the ending inventory should be equal to 48,360 units. Each unit produced will cost $1.5 in direct labor, $1.3 in direct materials, and $1.2 in variable overhead. The fixed overhead for 2022 should be $1,527,370. Prepare a sales budget for 2022 under each plan. (Round Unit selling price answers to 2 decimal places, e.g. 52.70.) eTextbook and Media Save for Later $ $ CONCORD INDUSTRIES Sales Budget Plan A $ - /2 $ Plan B Attempts: 0 of 5 used Submit Answer Prepare a production budget for 2022 under each plan. (c1) Production cost per unit $ (d). Compute the production cost per unit under each plan. (Round answers to 2 decimal places, e.g. 1.25.) Gross Profit $ Plan A SHERIDAN INDUSTRIES Production Budget Which plan should be accepted? should be accepted. Plan A Plan A Compute the gross profit under each plan. (Round answers to 0 decimal places, e.g. 125.) $ $ Plan B Plan B Plan B

Answer rating: 100% (QA)

123 3 Expected units sales 4 Selling price per unit 5 Total Sales 6 7 8 9 10 Expected unit sales 11 ... View the full answer