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Current Attempt in Progress Bates & Hill Fabricators produces commemorative bricks that organizations use for fundraising projects. Aaron Bates, the company's vice president of marketing,
Current Attempt in Progress Bates & Hill Fabricators produces commemorative bricks that organizations use for fundraising projects. Aaron Bates, the company's vice president of marketing, has prepared the following sales forecast for the first six months of the coming year. The company plans to sell the bricks for $21 each. January February March April May June 25,000 28,000 32,000 34.000 26,000 35,000 Prepare Bates & Hill's sales budget for the first quarter of the coming year. January February March Quarter Budgeted units sold Budgeted sales price Budgeted revenue $ $ $ $ $ $ Budgeted units sold Budgeted sales price Budgeted revenue January February March Quarter 20,000 30,000 32,000 82,000 $16 $16 $16 $16 $320,000 $480,000 $512,000 $1,312,000 Budgeted sales of April is 34,000. Company policy requires an ending finished goods inventory each month that will meet 20% of the following month's sales volume. Gary plans to have 2,200 finished bricks at a cost of $49,280 in inventory at the beginning of the year. Prepare Waterway & King's production budget for the first quarter. January February March Quarter Beginning inventory Budgeted ending inventory Budgeted production Budgeted unit sales Total units required
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