Question

For the quarter ended March 31, 2017, Croix Company accumulates the following sales data for its newest guitar, The Edge: $316,700 budget; $303,100 actual. In the second quarter, budgeted sales were $383,500, and actual sales were $387,400.
a. Prepare a static budget report for the second quarter and for the year to date. CROIX COMPANY Sales Budget Report For the Quarter Ended June 30, 2017.
b. Second Quarter Year to Date Product Line Budget Actual Difference Budget Actual Difference Guitar: The Edge $ $ $ $ $ $ Click if you would like to Show Work for this question: Open Show Work.

Answer 1

Answer:

Explanation:

The preparation of ta static budget report for the second quarter is shown below:

                                          CROIX COMPANY

                                         Sales Budget Report

                             For the Quarter Ended June 30, 2017

                       Second Quarter                      Year to date

Product Line  Budget  Actual  Difference  Budget  Actual  Difference

New Guitar $383,500  $387,400 $3,900    $700,200 $690,500  $9,700

                                                      Favorable                             Unfavorable

The year to date balances are computed below:

For Budget:

= $383,500 + $316,700

= $700,200

For Actual:

= $387,400 + $690,500

= 690,500