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Problem: Hike n' Run Company has decided to produce 288,000 pairs of socks at a uniform rate throughout 2015. The sales department of Hike n' Run has estimated sales for 2015 according to the following schedule:
Sales of Pairs of Socks
First quarter 76,800
Second quarter 62,400
Third quarter 72,000
Fourth quarter 100,800
Total for 2015 312,000
Assume the December 31, 2014, inventory is estimated to be 38,400 pairs of socks. Do a schedule of planned sales and production for the first two quarters of 2015.
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