Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Oriole Company estimates that unit sales will be 8,800 in quarter 1, 12,320 in quarter 2, 13,200 in quarter 3, and 15,840 in quarter 4.

Oriole Company estimates that unit sales will be 8,800 in quarter 1, 12,320 in quarter 2, 13,200 in quarter 3, and 15,840 in quarter 4. The sales price is $70 per unit. Management desires to have an ending finished goods inventory equal to 25% of the next quarter's expected unit sales. Prepare a production budget by quarters for the first 6 months of 2022. ORIOLE COMPANY Production Budget For the Six Months Ending June 30, 2022 Quarter 1 2 Expected Unit Sales 8800 Add : Desired Ending Finished Goods Inventory 308000 Total Required Units Less : Beginning Finished Goods Inventory 12320 3300 316800 15620 Six Prepare a production budget by quarters for the first 6 months of 2022. ORIOLE COMPANY Production Budget For the Six Months Ending June 30, 2022 Quarter 1 2 Expected Unit Sales 8800 12320 Add : Desired Ending Finished Goods Inventory 308000 3300 Total Required Units 316800 15620 Less Beginning Finished Goods Inventory Required Production Units Six Prepare a production budget by quarters for the first 6 months of 2022. ORIOLE COMPANY Production Budget For the Six Months Ending June 30, 2022 Quarter 1 2 Sales 8800 12320 Desired Ending Finished Goods Inventory 308000 3300 Units Beginning Finished Goods Inventory Jction Units 316800 15620 Six Months

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Wiley Gaap Interpretation And Application Of Generally Accepted Accounting Principles 2009

Authors: Barry J. Epstein, Ralph Nach, Steven M. Bragg

1st Edition

0470286067, 978-0470286067

More Books

Students also viewed these Accounting questions