production and purchases budgets

14.7 and 14.8

All applicable Exercises are available in Connect. Production and purchases budgets Olympia Productions, Inc., makes award Exercise medallions that are attached to ribbons. Each medallion requires 18 inches of ribbon. LO 4,5 The sales forecast for February is 2,000 medallions. Estimated beginning inventories and desired ending inventories for February are as follows: Part 2 Managerial Accounting a. Calculate the number of medallions to be produced in Febnary. Required: b. Calculate the number of yards of ribbon to be purchased is Petruary. Production and purchases budgets Gillman Co. is foricassing sales of 62,000 units of product for August. To make one unit of finished protuet, 5 pounds of raw materials are required. Actual beginning and desired ending inxeniories of raw materials and finished goods are as follows: Required: a. Calculate the number of units of product to be produced during August. b. Calculate the number of pounds of raw materials to be purchased during August