FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
Bartleby Related Questions Icon

Related questions

bartleby

Concept explainers

Question

please solve for jan feb march quater correct this circle data please fast 30 min left

Austen Manufacturing produces self-watering planters for use in upscale retail establishments. Sales projections for the first five months of the upcoming year show the estimated unit sales of
the planters each month to be as follows:
(Click the icon to view additional information.)
Inventory at the start of the year was 350 planters. The desired inventory of planters at the end of each month should be equal to 10% of the following month's budgeted sales. Each planter
requires two pounds of polypropylene (a type of plastic). The company wants to have 20% of the polypropylene required for next month's production on hand at the end of each month. The
polypropylene costs $0.25 per pound.
Read the requirements.
Requirement 1. Prepare a production budget for each month in the first quarter of the year, including production in units for each month and for the quarter.
Austen Manufacturing
Production Budget
For the Months of January through March
Unit sales
Plus: Desired ending inventory
Total needed
Less: Beginning inventory
Units to produce
January February March
Quarter
Data table
January
February
March
April
....
....
...
May..
Number of planters to be sold
3,500
3,400
3,600
4,000
- 4,200
- X
expand button
Transcribed Image Text:Austen Manufacturing produces self-watering planters for use in upscale retail establishments. Sales projections for the first five months of the upcoming year show the estimated unit sales of the planters each month to be as follows: (Click the icon to view additional information.) Inventory at the start of the year was 350 planters. The desired inventory of planters at the end of each month should be equal to 10% of the following month's budgeted sales. Each planter requires two pounds of polypropylene (a type of plastic). The company wants to have 20% of the polypropylene required for next month's production on hand at the end of each month. The polypropylene costs $0.25 per pound. Read the requirements. Requirement 1. Prepare a production budget for each month in the first quarter of the year, including production in units for each month and for the quarter. Austen Manufacturing Production Budget For the Months of January through March Unit sales Plus: Desired ending inventory Total needed Less: Beginning inventory Units to produce January February March Quarter Data table January February March April .... .... ... May.. Number of planters to be sold 3,500 3,400 3,600 4,000 - 4,200 - X
Part 1.
Production Budget
For the months of January through March
January
February
3,500
3,400
Unit sales
Add: desired
ending inventory
Total
Less: beginning
(350)
inventory
Units to produce 3,490
3,840
3,400*10% = 340 3,600*10% = 360 4,000*10% 400 1,100
3,760
(340)
March
3,600
3,420
4,000
(360)
Total
10,500
3,640
11,600
(1,050)
10,550
expand button
Transcribed Image Text:Part 1. Production Budget For the months of January through March January February 3,500 3,400 Unit sales Add: desired ending inventory Total Less: beginning (350) inventory Units to produce 3,490 3,840 3,400*10% = 340 3,600*10% = 360 4,000*10% 400 1,100 3,760 (340) March 3,600 3,420 4,000 (360) Total 10,500 3,640 11,600 (1,050) 10,550
Expert Solution
Check Mark
Knowledge Booster
Background pattern image
Accounting
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
FINANCIAL ACCOUNTING
Accounting
ISBN:9781259964947
Author:Libby
Publisher:MCG
Text book image
Accounting
Accounting
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:Cengage Learning,
Text book image
Accounting Information Systems
Accounting
ISBN:9781337619202
Author:Hall, James A.
Publisher:Cengage Learning,
Text book image
Horngren's Cost Accounting: A Managerial Emphasis...
Accounting
ISBN:9780134475585
Author:Srikant M. Datar, Madhav V. Rajan
Publisher:PEARSON
Text book image
Intermediate Accounting
Accounting
ISBN:9781259722660
Author:J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:McGraw-Hill Education
Text book image
Financial and Managerial Accounting
Accounting
ISBN:9781259726705
Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:McGraw-Hill Education