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Exercise 23-6 (Part Level Submission) On January 1, 2017, the Hardin Company budget committee has reached agreement on the following data for the 6 months ending June 30, 2017. Sales units: Ending raw materials inventory: Ending finished goods inventory: Third-quarter production: First quarter 5,500; second quarter 6,600; third quarter 7,300 40% of the next quarter's production requirements 25% of the next quarter's expected sales units 7,740 units. The ending raw materials and finished goods inventories at December 31, 2016, follow the same percentage relationships to production and sales that occur in 2017. 5 pounds of raw materials are required to make each unit of finished goods. Raw materials purchased are expected to cost $5 per pound. (a) Prepare a production budget by quarters for the 6-month period ended June 30, 2017. HARDIN COMPANY Production Budget

Exercise 23-6 (Part Level Submission) On January 1, 2017, the Hardin Company budget committee has reached agreement on the following data for the 6 months ending June 30, 2017. Sales units: Ending raw materials inventory: Ending finished goods inventory: Third-quarter production: First quarter 5,500; second quarter 6,600; third quarter 7,300 40% of the next quarter's production requirements 25% of the next quarter's expected sales units 7,740 units. The ending raw materials and finished goods inventories at December 31, 2016, follow the same percentage relationships to production and sales that occur in 2017. 5 pounds of raw materials are required to make each unit of finished goods. Raw materials purchased are expected to cost $5 per pound. (a) Prepare a production budget by quarters for the 6-month period ended June 30, 2017. HARDIN COMPANY Production Budget

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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▼ (b) Prepare a direct materials budget by quarters for the 6-month period ended June 30, 2017. HARDIN COMPANY Direct Materials Budget Quarter $ Six Months
Transcribed Image Text:▼ (b) Prepare a direct materials budget by quarters for the 6-month period ended June 30, 2017. HARDIN COMPANY Direct Materials Budget Quarter $ Six Months
Exercise 23-6 (Part Level Submission) On January 1, 2017, the Hardin Company budget committee has reached agreement on the following data for the 6 months ending June 30, 2017. Sales units: Ending raw materials inventory: Ending finished goods inventory: Third-quarter production: First quarter 5,500; second quarter 6,600; third quarter 7,300 40% of the next quarter's production requirements 25% of the next quarter's expected sales units 7,740 units. The ending raw materials and finished goods inventories at December 31, 2016, follow the same percentage relationships to production and sales that occur in 2017. 5 pounds of raw materials are required to make each unit of finished goods. Raw materials purchased are expected to cost $5 per pound. ▼(a) Prepare a production budget by quarters for the 6-month period ended June 30, 2017. Expected Unit Sales Add : Desired Ending Finished Goods Unit # Required Production Units Total Required Units Less Beginning Finished Goods Unit ♦ HARDIN COMPANY Production Budget For the Six Months Ending June 30, 2017 + Quarter 5500 2 6600 Six Months
Transcribed Image Text:Exercise 23-6 (Part Level Submission) On January 1, 2017, the Hardin Company budget committee has reached agreement on the following data for the 6 months ending June 30, 2017. Sales units: Ending raw materials inventory: Ending finished goods inventory: Third-quarter production: First quarter 5,500; second quarter 6,600; third quarter 7,300 40% of the next quarter's production requirements 25% of the next quarter's expected sales units 7,740 units. The ending raw materials and finished goods inventories at December 31, 2016, follow the same percentage relationships to production and sales that occur in 2017. 5 pounds of raw materials are required to make each unit of finished goods. Raw materials purchased are expected to cost $5 per pound. ▼(a) Prepare a production budget by quarters for the 6-month period ended June 30, 2017. Expected Unit Sales Add : Desired Ending Finished Goods Unit # Required Production Units Total Required Units Less Beginning Finished Goods Unit ♦ HARDIN COMPANY Production Budget For the Six Months Ending June 30, 2017 + Quarter 5500 2 6600 Six Months
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