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Peanut Land Inc. produces all - natural organic peanut butter. The peanut butter is sold in 1 2 - ounce jars. The sales budget for
Peanut Land Inc. produces allnatural organic peanut butter. The peanut butter is sold in ounce jars. The sales budget for the first four months of the year is as follows:
Unit Sales Dollar Sales $
January
February
March
April
Company policy requires that ending inventories for each month be of next month's sales. At the beginning of January, the inventory of peanut butter is jars.
Each jar of peanut butter needs two raw materials: ounces of peanuts and one jar. Company policy requires that ending inventories of raw materials for each month be of the next month's production needs. That policy was met on January
Required:
Question Content Area
Prepare a production budget for the first quarter of the year. Show the number of jars that should be produced each month as well as for the quarter in total.
Peanut Land Inc.
Production Budget
For the First Quarter of the Year
January February March Total
Sales fill in the blank ed
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Desired ending inventory fill in the blank ed
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Total needs fill in the blank ed
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Less: Beginning inventory fill in the blank ed
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Units produced fill in the blank ed
fill in the blank ed
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Prepare a direct materials purchases budget for jars for the months of January and February.
Peanut Land Inc.
Direct Materials Purchases Budget for Jars
For January and February
January February Total
Production fill in the blank abfffe
fill in the blank abfffe
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Jar fill in the blank abfffe
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Jars for production fill in the blank abfffe
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Desired ending inventory fill in the blank abfffe
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Total needs fill in the blank abfffe
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Less: Beginning inventory fill in the blank abfffe
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Jars purchased fill in the blank abfffe
fill in the blank abfffe
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Prepare a direct materials purchases budget for peanuts for the months of January and February.
Peanut Land Inc.
Direct Materials Purchases Budget for Peanuts
For January and February
January February Total
Production fill in the blank babfdbf
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Ounces fill in the blank babfdbf
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Ounces for production fill in the blank babfdbf
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Desired ending inventory fill in the blank babfdbf
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Total needs fill in the blank babfdbf
fill in the blank babfdbf
fill in the blank babfdbf
Less: Beginning inventory fill in the blank babfdbf
fill in the blank babfdbf
fill in the blank babfdbf
Ounces purchased fill in the blank babfdbf
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