Reference no: EM1374872
Gerrad Manufacturing has projected sales of its product for the next six months as given:
January 300 units
February 700 units
March 1,000 units
April 900 units
May 400 units
June 300 units
The finished product needs 3 pounds of raw material and 10 hours of direct labor.
Gerrad tries to maintain a Finished Goods ending inventory equal to next two months of sales and a Raw Material ending inventory equal to one-half of current month's production needs. January's starting inventories are expected to conform to company policy.
a. Create a production budget for February, March, and April.
b. Create a forecast of the units and cost of raw material that will be required for February, March, and April. The expected cost per pound of raw material is expected to be $2 in February, $2.30 in March, and $2.40 in April.
c. Create a direct labor budget (assuming a $12 per hour rate) for February, March, and April.
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