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Prepare the production budget

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Reference no: EM132895088

Question -

Q1. Prepare the Sales Budget assuming:

1. Expected sales volume: 8,000 units for the first quarter, an increase of 20% is expected for the second quarter, a decrease of 10% for the third quarter, and an increase of 25% for the fourth quarter.

2. The sales price should be $75.00 for the first two quarters and $82.50 for the last two quarters.

Q2. Prepare the Production Budget assuming:

1. The company believes it can meet future sales needs with an ending inventory of 25% of the next quarter, for the first two quarters, and 35% of the next quarter, for the last two quarters.

2. The expected sales in units for the first quarter of 2021 is 11,000.

Q3. Prepare the Direct Material Budget assuming:

1. Ending inventory of raw material is expected to be 15% of total pounds needed for production of the next quarter for the first two quarters and 20% of the next quarter for the last two quarters.

2. The expected pounds needed for production in the first quarter of 2021 is 38,500.

3. Each product requires 3 pounds of raw material.

4. The expected cost per pound is $8.25.

Reference no: EM132895088

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