Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I just need the Finished Goods Inventory solved and I can get the rest. Apparently you need the 330 from the Production Budget and something
I just need the "Finished Goods Inventory" solved and I can get the rest. Apparently you need the 330 from the Production Budget and something else from the Cost of Goods Sold Budget.
1 Production Budget Trenton Toy Company Production Budget For the Year Ended December 31, 2019 First Second Third Fourth Quarter Quarter Quarter Quarter Total Budgeted sets to be sold 1,000 900 285 950 300 1,050 330 3,900 330 315 Plus: Desired sets in ending inventory Total sets needed 1,185 1,250 1,315 300 1,380 315 4,230 150 Less: Sets in beginning inventory 150 285 1,035 965 1,015 1,065 Budgeted sets to be produced 4,080 Print Print Done Done Trenton Toy Company Budgeted Balance Sheet December 31, 2019 Assets Current Assets: Cash $ Accounts Receivable 121,059 25,725 900 Raw Materials Inventory Finished Goods Inventory Total Current Assets Property, Plant, and Equipment: Equipment Less: Accumulated Depreciation Total Assets Liabilities Current Liabilities: Accounts Payable Stockholders' Equity Trenton Toy Company Cost of Goods Sold Budget For the Year Ended December 31, 2019 First Second Third Fourth Quarter Quarter Quarter Quarter Total Beginning inventory 4,350 Sets produced and sold in 2019 14,700 $ $ 18,620 $ 18,620 $ 19,600 19,600 $ $ 20,580 20,580 4,350 73,500 77,850 || $ 19,050 $ Total budgeted cost of goods soldStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started