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1 Product HD-240 2 Quar

1 Product HD-240 2 Quar

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1 TURNEY COMPANY Production Budget Product HD-240 2 Quarter 3
Transcribed Image Text:1 TURNEY COMPANY Production Budget Product HD-240 2 Quarter 3
Turney Company produces and sells automobile batteries, the heavy-duty HD-240. The 2020 sales forecast is as follows. Quarter HD-240 1 2 3 5,200 7,110 8,190 10,240 The January 1, 2020, inventory of HD-240 is 2,080 units. Management desires an ending inventory each quarter equal to 40% of the next quarter's sales. Sales in the first quarter of 2021 are expected to be 25% higher than sales in the same quarter in 2020. Prepare quarterly production budgets for each quarter and in total for 2020.
Transcribed Image Text:Turney Company produces and sells automobile batteries, the heavy-duty HD-240. The 2020 sales forecast is as follows. Quarter HD-240 1 2 3 5,200 7,110 8,190 10,240 The January 1, 2020, inventory of HD-240 is 2,080 units. Management desires an ending inventory each quarter equal to 40% of the next quarter's sales. Sales in the first quarter of 2021 are expected to be 25% higher than sales in the same quarter in 2020. Prepare quarterly production budgets for each quarter and in total for 2020.
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