I need to find the total required production in units of finished product for the entire 3 month period ending September 30th in this problem. I got 727699, but it got counted wrong. Can you help? Exercise 9-25 Budgeting Production and Raw-MaterialPurchases (LO 9-3, 9-6)Greener Grass Fertilizer Company plans to sell 230,000 units of finishedproduct in July and anticipates a growth rate in sales of 3 percent permonth. The desired monthly ending inventory in units of finishedproduct is 80 percent of the next month's estimated sales. There are184,000 finished units in inventory on June 30. Each unit of finishedproduct requires 4 pounds of raw material at a cost of $1.25 per pound.There are 700,000 pounds of raw material in inventory on June 30.Required:1. Compute the company's total required production in units of finishedproduct for the entire three-month period ending September 30. (Roundall intermediate calculations and your final answer to the nearestunit.)2. Independent of your answer to requirement 1, assume the companyplans to produce 760,000 units of finished product in the three-monthperiod ending September 30, and to have raw-material inventory onhand at the end of the three-month period equal to 25 percent of theuse in that period. Compute the total estimated cost of raw-materialpurchases for the entire three-month period ending September 30.1. Total required production in units2. Total estimated cost

Solution 1: Budgeted production for three month ended Sep 30 is as under:

Answered: I need to find the total required…

I need to find the total required production in units of finished product for the entire 3 month period ending September 30th in this problem. I got 727699, but it got counted wrong. Can you help?

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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Question

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I need to find the total required production in units of finished product for the entire 3 month period ending September 30th in this problem. I got 727699, but it got counted wrong. Can you help?

Exercise 9-25 Budgeting Production and Raw-Material
Purchases (LO 9-3, 9-6)
Greener Grass Fertilizer Company plans to sell 230,000 units of finished
product in July and anticipates a growth rate in sales of 3 percent per
month. The desired monthly ending inventory in units of finished
product is 80 percent of the next month's estimated sales. There are
184,000 finished units in inventory on June 30. Each unit of finished
product requires 4 pounds of raw material at a cost of $1.25 per pound.
There are 700,000 pounds of raw material in inventory on June 30.
Required:
1. Compute the company's total required production in units of finished
product for the entire three-month period ending September 30. (Round
all intermediate calculations and your final answer to the nearest
unit.)
2. Independent of your answer to requirement 1, assume the company
plans to produce 760,000 units of finished product in the three-month
period ending September 30, and to have raw-material inventory on
hand at the end of the three-month period equal to 25 percent of the
use in that period. Compute the total estimated cost of raw-material
purchases for the entire three-month period ending September 30.
1. Total required production in units
2. Total estimated cost

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