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Budget and Capital Decisions-
Snip and Chip Inc. sells silk upholstery curtains for $150 each. The project's budgeted unit sales for four months during the current year appear below:
February
$39,000
April
$42,000
May
$44,000
June
$40,000
Additional information:
-The project desires to have an inventory at the end of each month equal to 15 percent of the following month's budgeted unit sales.
-Each curtain requires 2.0 yards of fabric.
-At the end of each month, the project decides to have 20 percent of the production material required for the next month on hand.
-The fabric costs $25 per yard. Each curtain produced requires 1 hour of direct labor.
-The project pays $27 per hour to its employees.
Prepare the following budgets for the project:
-Production budget for the month of April.
-Materials purchase budget for April.
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