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Budget We are making hamburgers. Here are the facts: We plan to sell 60,000 hamburgers in 2023. We want to have a beginning inventory of
Budget We are making hamburgers. Here are the facts: We plan to sell 60,000 hamburgers in 2023. We want to have a beginning inventory of 12,000 hamburgers and an ending inventory of 11,000 hamburgers in stock. 1) How many hamburgers will produce in 2023? If we produce 100,000 hamburgers in 2023 answer questions 2-4 with these facts: It takes 8 ounces of meat to make one hamburger. We will have 95 pounds of meat available on January 1, 2023 and we want to have 105 pounds of meat available on December 31, 2023. Meat is $3 per pound. 2) How many pounds of meat will you need in 2023? 3) How much do you budget for cost of the meat in 2023? It takes 12 minutes to make one burger. We pay employees $15 per hour. 4) How much do you budget for labor cost in 2023? Sales Revenue as follows: January - $60,000 February-$55,000 March - $88,000 April - $77,000 May - $51,000 You receive 60% in cash in the month of sale, 30% in cash one month following the sale, and 10% in cash two months following the sale. 5) How much cash are you budgeting for April
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