ACC 556 Week 7 Discussion

Liabilities"  Please respond to the following:

• Analyze the major pros and cons of preparing company budgets. Determine at least two (2) critical budget items that you believe are essential in managing a company. Provide a rationale for your response.
• Analyze the most common responsibility reporting systems. From your analysis, argue at least one (1) pro and one (1) con of using responsibility reporting systems.

Note: All students are required to post a minimum of two posts per online discussion thread. Students must have one original post and a minimum of one other post per discussion thread.  Click to review the Grading Rubric for Discussions.

http://hwacer.com/Tutorial/acc-556-week-7-discussion/

Here is an alternative quantitative question about a sales budget. Use the data given below and prepare the sales budget for the two quarters.

Edington Electronics Inc. produces and sells two models of pocket calculators, XQ‐103 and XQ‐104. The calculators sell for $15 and $25, respectively. Because of the intense competition Edington faces, management budgets sales semiannually. Its projections for the first 2 quarters of 2017 are as follows.
    Unit Sales
Product     Quarter 1     Quarter 2
XQ‐103     20,000     22,000
XQ‐104     12,000     15,000

No changes in selling prices are anticipated.

Instructions

Prepare a sales budget for the 2 quarters ending June 30, 2017. List the products and show for each quarter and for the 6 months, units, selling price, and total sales by product and in total.

Prepare a sales budget for 4 quarters.