jones corp has the following budgetee sales for the selected four month period.

udget Project Prust item Jones Corporation has the following budgeted sales for the selected four month period: Month Unit Sales July 20,000 August 35,000 September 25,000 October 30,000 Sales price per unit is $180 Plons are to have an inventory of finished product equal to 20 percent of the unit sales for the next month. There were 4,000 units in beginning inventory on July 1. Three pounds of materials are required for each unit produced. Each pound of material costs $20. Inventory levels for materials equal 30 percent of the needs for the next month. Desired ending inventory for September 25,200 pounds of material. Beginning inventory for July was 20,700 pounds of material Each unit requires 0.6 hours of direct labor and the average wage rate is $16 per hour Variable overhead rate $3.50 per direct labor hour. There is also foed overhead of $22,000 per month The company pays a 3% commission on sales The Company has fixed selling and administrative expenses as follows: Rent $6,000/month Utilities $1,200/month Advertising $400/ month Office Salanes $35,000/month Required: If required, round your answers to two decimal places www.the Project Print Item Il required, round your answers to two decimal places. A. Prepare a sales budget for July, August, and September and in total for the quarter. Jones Corporation Sales Budget July August September Total Units to be sold 20,000 35,000 25,000 80,000 Sales price 180 180 180 180 Total sales dollars 3,600,000 6,300,000 4,500,000 14.400,000 B. Prepare a production budget for July, August, and September and in total for the quarter. Jones Corporation Production Budget July August September Total Sales 20,000 35,000 25,000 80,000 Add: Desired ending inventory Total needs Less: Beginning inventory Units to be produced C. Prepare a direct materials purchases budget in pounds and dollars for July, August, and September and in total for the quarter. Jones Corporation Check My Work 10 more Check My Work uses remaining signment Score: 0.0% Tvne here to search i Add: Desired ending inventory Total needs Less: Beginning inventory Units to be produced C. Prepare a direct materials purchases budget in pounds and dollars for July, August, and September and in total for the quarter. Jones Corporation Direct Materials Budget July August September Total Units to be produced x lbs. per unit Pounds needed Desired ending inventory Total needs Less beginning inventory Purchases needed x cost per lb. Total purchase cost