Wright Lighting Fixtures forecasts its sales in units for the next four months as follows:

March4,000April10,000May8,000June6,000

Wright maintains an ending inventory for each month in the amount of one and one-half times the expected sales in the following month. The ending inventory for February (Marchs beginning inventory) reflects this policy. Materials cost $7 per unit and are paid for in the month after production. Labor cost is $3 per unit and is paid for in the month incurred. Fixed overhead is $10,000 per month. Dividends of $14,000 are to be paid in May. The firm produced 8,000 units in February.

Complete a production schedule and a summary of cash payments for March, April, and May. Remember that production in any one month is equal to sales plus desired ending inventory minus beginning inventory.

Note: Input all amounts as positive values except Beginning inventory values under Production Schedule which should be entered with a minus sign. Leave no cells blank be certain to enter 0 wherever required.

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