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How would a production budget by quarters

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Reference no: EM132530549

On January 2, 2017, the Garden Real company budget committee has the following data for the 6 months ending June 30,2017.

Sales Units : Q1= 5,000; Q2= 6,000; Q3= 7,000;

Ending Raw Materials Inventory; 40% 0f the next quarters production

Requirements

Ending finished goods inventory: 25% of the next quarter's expected sales units

Third Qtr. Production : 7,200 units

  • The ending raw materials and finished goods inventories at December 31, 2016 follow the same percentage relationships to production that occurs in 2017. Three pounds of materials are required to make each unit of finished goods. Raw Materials purchased are expected to cost $4 per pound.

Required:

Question a. How would a production budget by quarters for the 6 month period ended June 30, 2017 be created?

Question b. How would a direct materials budget by quarters for the 6 month period ended June 30, 2017 be created?

Reference no: EM132530549

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