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Xelga [282]
3 years ago
15

Brief Exercise 10-2 Your answer is partially correct. Try again. For the quarter ended March 31, 2020, Croix Company accumulates

the following sales data for its newest guitar, The Edge: $313,200 budget; $304,000 actual. In the second quarter, budgeted sales were $383,200, and actual sales were $399,500. Prepare a static budget report for the second quarter and for the year to date.
Business
1 answer:
sveta [45]3 years ago
7 0

Answer and Explanation:

The preparation of static budget is shown below:-

                       Static budget for the second quarter

                                        Croix Company

                                    Sales budget report

                             for the quarter ending March 31, 2020

Product line               Budget       Actual         Difference  

Newest guitar        $383,200     $399,500     $16,300 Favorable

                             Static budget for the year to date

                                        Croix Company

                                    Sales budget report

                             for the quarter ending March 31, 2020

Product line      Budget          Actual          Difference

Newest guitar  $696,400      $703,500      $7,100 Unfavorable

Working note

Total budget sales = Sales of first quarter + Sales of second quarter

= $313,200 + $383,200

= $696,400

Total actual sales = Sales of first quarter + Sales of second quarter

=  $304,000 + $399,500

= $703,500

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