Champ Incorporated budgets the following sales in units for the coming two months. Each month's ending inventory of finished units should be 70% of the next month's sales. The April 30 finished goods inventory is 161 units. May Budgeted sales units 230 Prepare the production budget for May. X Answer is complete but not entirely correct. CHAMP, INCORPORATED Production Budget Budgeted sales units Add: Desired ending inventory Next period budgeted sales units Ratio of inventory to future sales Desired ending inventory units June 210 Total required units Less: Beginning inventory units Units to produce May 230 280 x 70% 196 X 426 161 265 X

Champ Incorporated budgets the following sales in units for the coming two months. Each month's ending inventory of finished units should be 70% of the next month's sales. The April 30 finished goods inventory is 161 units. May Budgeted sales units 230 Prepare the production budget for May. X Answer is complete but not entirely correct. CHAMP, INCORPORATED Production Budget Budgeted sales units Add: Desired ending inventory Next period budgeted sales units Ratio of inventory to future sales Desired ending inventory units June 210 Total required units Less: Beginning inventory units Units to produce May 230 280 x 70% 196 X 426 161 265 X

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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