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Santana Rey expects second quarter 2012 sales of her new line of computer furniture to be the same.

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Santana Rey expects second quarter 2012 sales of her new line of computer furniture to be the same.. 1 answer below » Santana Rey expects second quarter 2012 sales of her new line of computer furniture to be the same as the first quarter’s sales (reported below) without any changes in strategy. Monthly sales averaged 41 desk units (sales price of $1,260) and 21 chairs (sales price of $510). Sales† $ 187,110 Cost of goods sold‡ $ 140,160 Gross profit 46,950 Expenses Sales commissions (10%) 18,711 Advertising expenses 9,300 Other fixed expenses 18,300 Document Preview: Santana Rey expects View complete question » Santana Rey expects second quarter 2012 sales of her new line of computer furniture to be the same as the first quarter’s sales (reported below) without any changes in strategy. Monthly sales averaged 41 desk units (sales price of $1,260) and 21 chairs (sales price of $510). Sales† $ 187,110 Cost of goods sold‡ $ 140,160 Gross profit 46,950 Expenses Sales commissions (10%) 18,711 Advertising expenses 9,300 Other fixed expenses 18,300 Document Preview: Santana Rey expects second quarter 2012 sales of her new line of computer furniture to be the same as the first quarter’s sales (reported below) without any changes in strategy. Monthly sales averaged 41 desk units (sales price of $1,260) and 21 chairs (sales price of $510). Sales† $ 187,110  Cost of goods sold‡ $ 140,160  Gross profit 46,950  Expenses Sales commissions (10%) 18,711  Advertising expenses 9,300  Other fixed expenses 18,300  Total expenses $ 46,311  Net income $ 639  Reflects revenue and expense activity only related to the computer furniture segment. † Revenue: (123 desks × $1,260) + (63 chairs × $510) = $154,980 + $32,130 = $187,110 ‡ Cost of goods sold: (123 desks × $760) + (63 chairs × $260) + $30,300 = $140,160 Santana Rey believes that sales will increase each month for the next three months (April, 49 desks, 33 chairs; May, 53 desks, 36 chairs; June, 57 desks, 39 chairs) if selling prices are reduced to $1,160 for desks and $460 for chairs, and advertising expenses are increased by 10% and remain at that level for all three months. The products’ variable cost will remain at $760 for desks and $260 for chairs. The sales staff will continue to earn a 10% commission, the fixed manufacturing costs per month will remain at $10,100 and other fixed expenses will remain at $6,100 per month. 1. 1. Prepare budgeted income statements for each of the months of April, May, and June that show the expected results from implementing the proposed changes. Use a three-column format, with one column for each month. (Input all amounts as positive values except any net loss which should be indicated by a minus sign. Omit the “$” sign in your response.) 
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