Question

For the quarter ended March 31, 2020, Croix Company accumulates the following sales data for its newest guitar, The Edge: $315,200 budget; $303,200 actual. In the second quarter, budgeted sales were $382,000, and actual sales were $392,700. Prepare a static budget report for the second quarter and for the year to date.

Answer 1

Croix Company

Static budget report

Second quarter Year to date

Product line Budget Actual Diff Budget Actual Diff

New guitar 382,000 392,700 10,700F 697,200 695,900 1,300 U

Step-by-step explanation:

Total budgeted sales for 2020 = Sales of first quarter + Sales of second quarter

Total budgeted sales for 2020 = $315,200 + $382,000

Total budgeted sales for 2020 = $697,200

Total actual sales for 2020 = Sales of first quarter + Sales of second quarter

Total actual sales for 2020 = $303,200 + $392,700

Total actual sales for 2020 = $695,900