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Hi, I need help solving for the remaining values (cells highlighted red require input; white numerical cells are dynamic). Thank you.

Hi, I need help solving for the remaining values (cells highlighted red require input; white numerical cells are dynamic). Thank you.

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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Hi,

I need help solving for the remaining values (cells highlighted red require input; white numerical cells are dynamic).

Thank you.

Down Under Products, Limited, of Australia has budgeted sales of its popular boomerang for the next four months as follows: April May June July Unit Sales 72,000 85,000 112,000 91,000 The company is now in the process of preparing a production budget for the second quarter. Past experience has shown that end-of- month inventory levels must equal 20% of the following month's unit sales. The inventory at the end of March was 14,400 units. Required: Prepare a production budget by month and in total, for the second quarter. > Answer is complete but not entirely correct. Down Under Products, Limited, Production Budget April 72,000 Budgeted unit sales Add: Desired units of ending finished goods inventory Total needs Less: Units of beginning finished goods inventory Required production in units 72,000 72,000 X X May 85,000✔✓ 85,000 85,000 X X June 112,000 ✓ X 112,000 112,000 X Quarter 269,000 269,000 269,000
Transcribed Image Text:Down Under Products, Limited, of Australia has budgeted sales of its popular boomerang for the next four months as follows: April May June July Unit Sales 72,000 85,000 112,000 91,000 The company is now in the process of preparing a production budget for the second quarter. Past experience has shown that end-of- month inventory levels must equal 20% of the following month's unit sales. The inventory at the end of March was 14,400 units. Required: Prepare a production budget by month and in total, for the second quarter. > Answer is complete but not entirely correct. Down Under Products, Limited, Production Budget April 72,000 Budgeted unit sales Add: Desired units of ending finished goods inventory Total needs Less: Units of beginning finished goods inventory Required production in units 72,000 72,000 X X May 85,000✔✓ 85,000 85,000 X X June 112,000 ✓ X 112,000 112,000 X Quarter 269,000 269,000 269,000
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