D E F G H Comprehensive Assignment #2 Production Budget Ford Seasonings management has asked its accounting staff to prepare a production budget for the upcoming quarter. Like all businesses, Ford Seasoning wants to have extra finished goods inventory on hand at the end of each period to serve as a buffer. Information about the firm's inventory balance at the beginning of the quarter and its desired level of ending inventory for each month during the quarter is as follows: + Jars in Beginning Inventory, 1-1-XX 1,500 5 Desired Jars in Ending Inventory, 1-31-X 10% of February's budgeted sales (in jars) 6 Jars expected to be sold during February 20XX 15,000 7 Requirement Use the information from the table above and your sales budget to prepare Ford Seasoning's production 8 budget for the upcoming quarter. Ford Seasoning Production Budget For the Month Ended January 31, 20XX January 13 Budgeted Jars to be Sold 15,000 14 Ada:Desired Jars in Ending Inventory 15 Total Jars Needed 16 Less: Jars in Beginning Inventory 17 Budgeted Jars to be Produced 9 12 F 3 noco 18 20 21 22 RE OP Sales Budget Red Production Budget Direct Mats Badge SEUM 15000 A B D E F 6.00 1,500 Pounds of Direct Materials per Each Unit Jar) 0.50 5 Cost per Pound of Direct Materials 6 Direct Materials in Beginning Inventory, 1-1-XX 7 Desired Direct Materials Ending Inventory, 1-31-XX 10% of February's Budgeted Direct Materials Needed for Production 8 Direct Materials needed for production during Februay 20XX 15,000 Pounds of Direct Materials 9 Requirement Use the information from the table above, as well as your prior budgets, to prepare Ford Seasoning's direct materials budget for 10 the month of January 20XX Ford Seasoning Direct Materials Budget For the Month Ended January 31, 20XX 14 Jannant 15 Budgeted Jars to be Produced 16 Times: Pounds of Direct Materials per Unit Jar) 15,000.00 17 Direct Materials Needed for Production 18 Add: Desired Direct Materials in Ending Inventory 19 Total Direct Materials Needed 20 Less: Direct Materials in Beginning Inventory 21 Budgeted Purchases of Direct Materials 22 Times: Direct Materials Cost per Pound 23 Budgeted Cost of Direct Materials Purchases 12 13 24 25 26 27 28 29 + Sales Budget Production Budget Direct M