Lame Specialties manufactures, among other things, woolen blankets for the athletic teams of the two local high schools.
This problem can also be referenced here: https://www.chegg.com/homework-help/budget-schedules-manufacturer-lame-specialties-manufactures-chapter-6-problem-30P-solution-9780133428834-exc 
Requirement 1. Prepare the following budgets. a. Prepare the revenues budget. Revenues Budget For the Month of March Units Selling Price 130 S 229 $ Broncos Blankets Total revenues 29,770 56,240 Rams Blankets 190 296 86,010 Total Rams Production Budget For the Month of March Broncos Budgeted units sales 130 22 Add target ending finished goods inventory 152 Total required units 12 Deduct beginning finished goods inventory 140 Units of finished goods to be produced 190 27 217 17 200 Material Broncos Rams Red wool Black wool logo patches logo patches Total Physical Units Budget Direct materials required for Broncos Rams 580 yds 140 0 200 0 0 yds. 0 yds 1.000 yds 1,000 yds 580 140 200 yds Total quantity of direct material to be used Cost Budget 580 $ 140 0 1000 0 200 Cost Budget Available from beginning direct materials inventory (under a FIFO cost-flow assumption) Broncos Rams To be purchased this period Broncos Rams Direct materials to be used this period 550 120 1010 165 1110 2010 200 365 3745 Enter anu numher in the arit fialde and then click Charl Anwar Requirement 1. Prepare the following budgets. a. Prepare the revenues budget. Revenues Budget For the Month of March Units Selling Price 130 S 229 $ Broncos Blankets Total revenues 29,770 56,240 Rams Blankets 190 296 86,010 Total Rams Production Budget For the Month of March Broncos Budgeted units sales 130 22 Add target ending finished goods inventory 152 Total required units 12 Deduct beginning finished goods inventory 140 Units of finished goods to be produced 190 27 217 17 200 Material Broncos Rams Red wool Black wool logo patches logo patches Total Physical Units Budget Direct materials required for Broncos Rams 580 yds 140 0 200 0 0 yds. 0 yds 1.000 yds 1,000 yds 580 140 200 yds Total quantity of direct material to be used Cost Budget 580 $ 140 0 1000 0 200 Cost Budget Available from beginning direct materials inventory (under a FIFO cost-flow assumption) Broncos Rams To be purchased this period Broncos Rams Direct materials to be used this period 550 120 1010 165 1110 2010 200 365 3745 Enter anu numher in the arit fialde and then click Charl Anwar
