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Prepare a production budget by quarters for six-month period

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Problem

On January 1, 2017, the Hardin Company budget committee has reached agreement on the following data for the 6 months ending June 30, 2017.

Sales units:

First quarter 5,300; second quarter 6,700; third quarter 7,800

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:

7,430 units.

 

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

(a) Prepare a production budget by quarters for the 6-month period ended June 30, 2017.

Reference no: EM131785843

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