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Based on the following production and sales data of Concrete Co. for Marchof the current year, prepare (a) a sales budget and (b) a production budget.
Product T
Product X
Estimated inventory, March 1
28,000 units
20,000 units
Desired inventory, March 31
32,000 units
15,000 units
Expected sales volume:
Area I
320,000 units
260,000 units
Area II
190,000 units
130,000 units
Unit sales price
$6
$14
Journalize the six entries that adjust the accounts at December 31. One of the accounts was affected by two different adjusting entries.
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