Asheville Company is preparing its master budget for 2012. Relevant data pertaining to its sales and production budgets are as follows:

Sales: Sales for the year are expected to total 1,200,000 units. Quarterly sales, as a percentage of total sales, are 20%, 25%, 30%, and 25%, respectively. The sales price is expected to be $50 per unit for the first three quarters and $55 per unit beginning in the fourth quarter. Sales in the first quarter of 2013 are expected to be 10% higher than the budgeted sales volume for the first quarter of 2012.

Production: Management desires to maintain ending finished goods inventories at 25% of the next quarters budgeted sales volume.

Instructions

Prepare the sales budget and production budget by quarters for 2012.

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