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19 January, 04:31

Patrick Inc. sells industrial solvents in 5-gallon drums. Patrick expects the following units to be sold in the first three months of the coming year: January 41,000 February 38,000 March 50,000 The average price for a drum is $35. Required: Prepare a sales budget for the first 3 months of the coming year, showing units and sales revenue by month and in total for the quarter. Do not include a multiplication symbol as part of your answer.

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  1. 19 January, 04:43
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    The sales budget is prepared below. See table below.

    Explanation:

    A sales budget shows the expected revenue and units to be sold for a forth coming accounting period. The sales budget for Patrick Inc would look as follows:

    Sales budget

    Month Units Revenue ($)

    January 41,000 1,435,000

    February 38,000 1,330,000

    March 50,000 1,750,000

    4,515,000

    Note the revenue per month is determined by multiplying the unit to be sold by the price per unit of $35
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