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Prepare a production budget by quarters

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Question - On January 1, 2020, the Wildhorse Company budget committee has reached agreement on the following  data for the 6 months ending June 30, 2020.

Sales units: First quarter 5,400; second quarter 6,300; third quarter 7,500.

Ending raw materials inventory: 40% of the next quarter's production requirements.

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

Third-quarter production: 7,850 units.

The ending raw materials and finished goods inventories at December 31, 2019, follow the same percentage relationships to production and sales that occur in 2020. 5 pounds of raw materials are required to make each unit of finished goods. Raw materials purchased are expected to cost $4 per pound.

Prepare a production budget by quarters for the 6-month period ended June 30. 2020.

Prepare a direct materials budget by quarters for the 6-month period ended June 30, 2020.

Prepare a direct materials budget by quarters for the 6-month period ended June 30, 2020.

Reference no: EM132599624

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