Instructions

please make sure to have it filled out with appropirate explainations and answers

A3 X E G H 1 The Master Budget Production Budget Hoffman Foods produces specialty soup sold in Jars. The projected sales in dollars and Jars for each quarter of the 4 upcoming year are as follows: 6 9 5 Total sales revenue Number of jars sold 1st quarter $181,000 152,500 8 2nd quarter $219,000 181,500 3rd quarter $255,000 213,000 10 4th quarter $199,000 160,500 11 Hoffman anticipates selling the following in the first quarter of the year following the year given in the preceding 12 table: 13 Sales in units (jars) 223,000 14 Sales revenue $260,000 15 16 Hoffman has a policy that the ending inventory of jars must be: 17 30% of the following quarter's sales 18 19 Use the blue shaded areas on the ENTERANSWERS tab for inputs. Always use cell references and formulas where appropriate to receive full credit. Elf you copy/paste from the 20 Instruction tab you will be marked wrong. Use cell references from prior calculations, if applicable. 21 22 Requirement 1 Prepare a production budget for the year that shows the number of jars to be produced each quarter and for the 23 yearin total Enter all amounts as positive values. Do NOT use parentheses or a minus sign for amounts to be subtracted 25 A B D (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be marked wrong. Use cell references from prior calculations, if 1 applicable.) N 3 4 Hoffman Foods Production Budget For the Upcoming Year Quarter 1 Quarter 2 5 Quarter 3 Quarter 4 Year 6 7 Unit sales 8 Plus: Desired ending inventory 9 Total needed 10 Less: Beginning inventory 11 Number of units to produce 12 13 15 16