Fuque Company's sales budget projects unit sales of part 1982 of 10,300 units in January, 12,500 units in February, and 13,400 units in March. Each unit of part 1982 requires 4 pounds of materials, which cost $5 per pound. Fuqua Company desires its ending raw materials inventory to equal 40% of the next month's production requirements, and its ending finished goods inventory to equal 20% of the next month's expected unit sales. These goals were met at December 31, 2016. (a) Prepare a production budget for January and February 2017. FUQUA COMPANY Production Budget (b) Prepare a direct materials budget for January 2017. FUQUA COMPANY Direct Materials Budget January January February

Fuque Company's sales budget projects unit sales of part 1982 of 10,300 units in January, 12,500 units in February, and 13,400 units in March. Each unit of part 1982 requires 4 pounds of materials, which cost $5 per pound. Fuqua Company desires its ending raw materials inventory to equal 40% of the next month's production requirements, and its ending finished goods inventory to equal 20% of the next month's expected unit sales. These goals were met at December 31, 2016. (a) Prepare a production budget for January and February 2017. FUQUA COMPANY Production Budget (b) Prepare a direct materials budget for January 2017. FUQUA COMPANY Direct Materials Budget January January February

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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