Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Price, Inc., bottles and distributes mineral water from the company's natural springs in northern Oregon. Price markets two products: 12-ounce disposable plastic bottles and 1-gallon

Price, Inc., bottles and distributes mineral water from the company's natural springs in northern Oregon. Price markets two products: 12-ounce disposable plastic bottles and 1-gallon reusable plastic containers.
1. For 2018, Price marketing managers project monthly sales of 410,000 12-ounce bottles and 170,000 1-gallon containers. Average selling prices are estimated at $ 0.50 per 12-ounce bottle and $ 1.30 per 1-gallon container. Prepare a revenues budget for Price, Inc., for the year ending December 31, 2018.
2. Price begins 2018 with 930,000 12-ounce bottles in inventory. The vice president of operations requests that 12-ounce bottles ending inventory on December 31, 2018, be no less than 640,000 bottles. Based on sales projections as budgeted previously, what is the minimum number of 12-ounce bottles Price must produce during 2018?
3. The VP of operations requests that ending inventory of 1-gallon containers on December 31, 2018, be 220,000 units. If the production budget calls for Price to produce 1 comma 600,000 1-gallon containers during 2018, what is the beginning inventory of 1-gallon containers on January 1, 2018?
image text in transcribed
image text in transcribed
Price, Inc., bottles and distributes mineral water from the Read the euirements Requirement 1.For 2018, Price marketing managers project monthly sales of 410,000 12-ounce botles and 1 oompany's natural springs in northem Oregon Price markets two products: 12-ounce disposable plastic bottles and 1-galion neussble plastic containers contaliner. Prepare a revenues budget for Price, Ince, for the year ending December 31, 2018 Revenues Budget For Year Ending December 31,2018 UnitsPrice Total 12-oz bottlers 1-galon oontainers Require nent 2 Pnce begins 2018 with 900.000 120 nce botes n mentory The ice president of operations regests that 12o noe bodes ending inventory on December 31, 2018, be no less tan 64 Based on sales projections as budgeted previously, what is the minimum number of 12-ounce bottles Price must produce during 2018 0 bottes. Production Budget (in Units) For the Year Ending December 31,2018 12 oz. botties Units to be produced Requirement 3. The VP of operations requests that ending inventory of 1-gallon containers on December 31, 2018, be 220,000 units. If the production budget calls for Price to produce 1,600,000 1-galion containens during 2018, what is the beginning inventory of 1-gallon containers on January 1, 2018 The beginning inventory of 1-galion containecs, in units, is Choose from any list or enter any number in the input fiolds and then continue to the next question. on January 1, 2018

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

Contemporary Auditing

Authors: Michael C. Knapp

11th edition

1305970810, 9781337514811, 1337514810, 978-1305970816

More Books

Students also viewed these Accounting questions

Question

2. What role should job descriptions play in training at Apex?

Answered: 1 week ago