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WileyPLUS x C Chegg Study | Guided Sc c Secure | https:/ r.uni WileyPLUS Woygandi, Accounting Principles, 12 Accounting Principles I & II (BU 155 156) Home Read, Study&Practice; Gradebok ORION Downloadable eTextbook AssianmantOpen Assignment ASSIGNMENT RESOURCES Problem 23-3A Hill Industries had sales in 2016 of $7,440,000 and gross profit of $1,113,000. Management is considening 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 valume would decrease by 10% from its 2016 level. pan B would decrease the selling price per unit by $0.50. The Problem 23-3A marketing department expects that the sales volume would increase by 109,000 units. At the end of 2016, Hill has 44,000 units of inventory on hand. If Plan A is accepted, the 2017 ending inventory should be equal to S% of the 2017 sales. If Plan B is accepted, the ending inventory should be equal to 60,000 units. Each unit produced will Dust $1.80 rl direct labor $1.40 in dirct materials and S1 20 in variable overhead. The fixed overhead for 2017 should be s 1,021,000 Obiective Prepare a sales budget for 2017 under each plan.(Round Unit selling price answers to 2 decimal places, e.g. 52.70.) HILL INDUSTRIFS Sales Budget Plan A Plan B Expected unit sales Unit selling price Total sales LINK TO TEXT Prepare a production budget for 2017 under each plan. HILL INDUSTRIES All Rights Reserved. A Division of Version 4,24.2.4 - Type here to search 11/16/2017

Explanation / Answer

Sales budget

Production budget

Production cost per unit

Gross profit

Plan A Plan B Expected unit sales 837000 1039000 Unit selling price $8.40 $7.50 Total sales $7030800 $7792500

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