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Enter the totals for the sales and production

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Reference no: EM132536877

Rhett Corporation manufactures and sells dress shirts. Rhett Corporation will use the following information to prepare its master budget for the first quarter of the year:

Rhett Corporation budgeted sales in units:

April: 30,000 units
May: 26,000 units
June: 27,000 units
July: 26,000 units
Selling price: $22 per shirt

Information for the Production Budget:

Ending finished goods inventory at March 31st: 4,500 shirts
Desired ending inventory of shirts: 15% of the next month's sales

Information for the Direct Materials Budget:

Each shirt (unit) requires: 3 yards of cloth
Ending Inventory of cloth in yards at March 31st: 8,820 yards
Desired ending inventory of cloth in yards: 10% of the next month's production needs
Materials needed for production for July: 77,550 yards
Cloth costs: $2 per yard

Required:

Question 1: Using the above information, enter the totals for the sales, production and materials budgets below. For the numbers listed with a "?". please calculate those using a piece of scratch paper.

Reference no: EM132536877

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