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Ash Creek Company is preparing its master budget for 2012. Relevant data pertaining to its sales, production, and direct materials budgets are as follows.
Sales: Sales for the year are expected to total 1,300,000 units. Quarterly sales are 20%, 24%, 25%, and 31%, respectively. The sales price is expected to be $42 per unit for the first three quarters and $47 per unit beginning in the fourth quarter. Sales in the first quarter of 2013 are expected to be 15% higher than the budgeted sales for the first quarter of 2012.
Production: Management desires to maintain the ending finished goods inventories at 25% of the next quarter's budgeted sales volume.
Direct materials: Each unit requires 2 pounds of raw materials at a cost of $12 per pound. Management desires to maintain raw materials inventories at 10% of the next quarter's production requirements. Assume the production requirements for first quarter of 2013 are 493,600 pounds.Prepare the sales, production, and direct materials budgets by quarters for 2012.
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