Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please help me H The marketing department of Goethe inc has submitted the following sales forecast for 2024. The company expects to start the first
please help me H
The marketing department of Goethe inc has submitted the following sales forecast for 2024. The company expects to start the first quarter with 1,720 units in finished goods inventory Management desires an ending finished goods inventory in each quarter equal to 20% of the next quarter's budgeted sales. The desired ending finished goods inventory for the fourth quarter is 2,220 units. In addition, the beginning raw materlais inventory for the first quarter is budgeted to be 3,340 kilograms and the beginning accounts payable for the first quarter are budgeted to be $17,020 Each unit requires two kilograms of raw material that costs $4 per kilogram. Management desires to end each quarter with an inventory of raw materials equal to 20% of the following quarter's production needs. The desired ending inventory for the fourth quarter is 3,250kilograms. Management plans to pay for 75% of raw material purchases in the quarter acquired and 25% in the following quarter Required: 1. Prepare the companys production budget for the upcoming fiscal year Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started