Chicago Furniture Company produces combination desk and chair sets for the elementary schools in the Midwest. As the second quarter is progressing it is important for the controller to complete a budget for the third quarter. The sales department manager has provided the following forecast.

In order to ensure Just-in-Time (JIT) deliveries are maintained in accordance with the needs of the scholls Chicago Furniture Company has a standing policy that the inventory at the end of the month must be equal to 40% of yhe following months forecasted sales. On July 1st there will be 3,200 desk combos in inventory.

The building of each desk combo requires 12 board feet of pine planks which cost $0.70 per foot. In order to maintain proper inventory for building the desk combos the department must have 30% of the next months production requirments.

Using Microsoft Excel, create a spreadsheet for the production and material purchases budget for the 3rd Quarter.

8,000 desk combos 8,700 desk combos 7,600 desk combos uly August September October8,700 desk combos November 8,800 desk combos