4 1 The Laster Budget 2 Production Budget 3 Ringer Foods produces specialty soup sold in jars. The projected sales in dollars and jars for each quarter of the upcoming year are as follows: 5 6 Total sales revenueNumber of jars sold 7 1st quarter $180,000 150,000 8 2nd quarter $216,000 180,000 9 3rd quarter $252,000 210,000 10 4th quarter $192,000 160,000 11 12 Ringer anticipates selling the following in the first quarter of the year following the year given in the preceding table: 13 Sales in units (jar 220,000 14 Sales revenue $264, 000 15 16 Ringer has a policy that the ending inventory of jars must be: 17 25% of the following quarter's sales 18 19 Use the blue shaded areas on the ENTERANSYERS tab for inputs. Always use cell references and formulas where appropriate to receive full credit. If 20 you copy/paste from the Instruction tab you will be marked wrong. Use cell references from prior calculations, if applicable. a. a. 22 Requirement 23 1 Prepare a production budget for the year that shows the number of jars to be produced each quarter and for the year in total. 24 Enter all amounts as positive values. Do NOT use parentheses or a minus sign for amounts to be subtracted. 25 26 Saving & Submitting Solution 27 1 Save file to desktop. 28 Create folder on desktop, and label COMPLETED EXCEL PROJECTS 09 b. Save your solution in the folder you just created; add -solution-date to end of file name 30 2 Upload and submit your file to be graded. 31 a. Navigate back to the activity window - screen where you downloaded the initial spreadsheet B2 Click Choose button under step 3; locate the file you just saved and click Open B3 Click Upload button under step 3 34 d. Click Submit button under step 4 35 36 Viewing Results 37 1 Click on Results tab in MyLab Accounting 38 2 Click on the Assignment you were working on 39 3 Click on Project link; this will bring up your Score Card 40 4 Within Score Card window, click on Live Comments Report (lower right) to download spreadsheet with feedback 11 12 13 b. C. A H (Always use cell references and formulas where appropriate to receive full credit. 1 If you copy/paste from the Instruction tab you will be marked wrong. Use cell references from prior calculations, if applicable. ) 2 3 Ringer Foods 4 Production Budget 5 For the Upcoming Year 6 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Year 7 Unit sales 8 Plus: Desired ending inventory 9 Total needed 10 Less: Beginning inventory 11 Number of units to produce 12 13 14 15 16 17