The finished goods units on hand on december 31 2014 was

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Reference no: EM13583515

Yang Company has budgeted the following unit sales:

2015 Units

January 15,000

February 10,000

March 12,000

April 11,000

May 16,000

The finished goods units on hand on December 31, 2014, was 1,000 units. Each unit requires 2 pounds of raw materials that are estimated to cost an average of $5 per pound. It is the company's policy to maintain a finished goods inventory at the end of each month equal to 15% of next month's anticipated sales. They also have a policy of maintaining a raw materials inventory at the end of each month equal to 25% of the pounds needed for the following month's production. There were 9,000 pounds of raw materials on hand at December 31, 2014

INSTRUCTIONS

For the first quarter of 2015, prepare

a) a production budget and

b) a direct materials budget.

Reference no: EM13583515

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