Mallory Company expects to sell 120 units in the first quarter, and 60 units in the...
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Mallory Company expects to sell 120 units in the first quarter, and 60 units in the second quarter. Assuming the company prefers to maintain finished goods inventory equal to 30% of the next quarter's sales, prepare a production budget for the first quarter only. Hint: This quarter's projected sales were used to determine last quarter's required ending inventory. Mallory Company Production Budget First Quarter Budgeted Sales in units Add: desired ending finished goods inventory Total finished goods inventory needed Deduct: beginning finished goods inventory Units to be produced 1st Qtr. Mallory Company expects to sell 120 units in the first quarter, and 60 units in the second quarter. Assuming the company prefers to maintain finished goods inventory equal to 30% of the next quarter's sales, prepare a production budget for the first quarter only. Hint: This quarter's projected sales were used to determine last quarter's required ending inventory. Mallory Company Production Budget First Quarter Budgeted Sales in units Add: desired ending finished goods inventory Total finished goods inventory needed Deduct: beginning finished goods inventory Units to be produced 1st Qtr.
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Opening Stock of First Quarter Sales of 1st Quarter 30 ie 36 units 12030 Closing Stock of Ist Qua... View the full answer
Related Book For
Fundamental accounting principle
ISBN: 978-0078025587
21st edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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