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On January 1, 2022, the Blossom Company budget committee has reached agreement on the following data for the 6 months. ending June 30, 2022. Sales units: Ending raw materials inventory: Ending finished goods inventory: Third-quarter production: First quarter 5,100; second quarter 6,120; third quarter 7,140. 40% of the next quarter's production requirements. 25% of the next quarter's expected sales units. 7,300 units. The ending raw materials and finished goods inventories at December 31, 2021, follow the same percentage relationships to production and sales that occur in 2022. 3 pounds of raw materials are required to make each unit of finished goods. Raw materials purchased are expected to cost $4 per pound. Prepare a production budget by quarters for the 6-month period ended June 30, 2022. BLOSSOM COMPANY Production Budget Prepare a direct materials budget by quarters for the 6-month period ended June 30, 2022. BLOSSOM COMPANY Direct Materials Budget For the Six Months Ending June 30, 2022 1 Quarter 2

On January 1, 2022, the Blossom Company budget committee has reached agreement on the following data for the 6 months. ending June 30, 2022. Sales units: Ending raw materials inventory: Ending finished goods inventory: Third-quarter production: First quarter 5,100; second quarter 6,120; third quarter 7,140. 40% of the next quarter's production requirements. 25% of the next quarter's expected sales units. 7,300 units. The ending raw materials and finished goods inventories at December 31, 2021, follow the same percentage relationships to production and sales that occur in 2022. 3 pounds of raw materials are required to make each unit of finished goods. Raw materials purchased are expected to cost $4 per pound. Prepare a production budget by quarters for the 6-month period ended June 30, 2022. BLOSSOM COMPANY Production Budget Prepare a direct materials budget by quarters for the 6-month period ended June 30, 2022. BLOSSOM COMPANY Direct Materials Budget For the Six Months Ending June 30, 2022 1 Quarter 2

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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On January 1, 2022, the Blossom Company budget committee has reached agreement on the following data for the 6 months ending June 30, 2022. Sales units: Ending raw materials inventory: Ending finished goods inventory: Third-quarter production: First quarter 5,100; second quarter 6,120; third quarter 7,140. 40% of the next quarter's production requirements. 25% of the next quarter's expected sales units. 7,300 units. The ending raw materials and finished goods inventories at December 31, 2021, follow the same percentage relationships to production and sales that occur in 2022. 3 pounds of raw materials are required to make each unit of finished goods. Raw materials purchased are expected to cost $4 per pound. Prepare a production budget by quarters for the 6-month period ended June 30, 2022. BLOSSOM COMPANY Production Budget Prepare a direct materials budget by quarters for the 6-month period ended June 30, 2022. BLOSSOM COMPANY Direct Materials Budget For the Six Months Ending June 30, 2022 1 Quarter 2
Transcribed Image Text:On January 1, 2022, the Blossom Company budget committee has reached agreement on the following data for the 6 months ending June 30, 2022. Sales units: Ending raw materials inventory: Ending finished goods inventory: Third-quarter production: First quarter 5,100; second quarter 6,120; third quarter 7,140. 40% of the next quarter's production requirements. 25% of the next quarter's expected sales units. 7,300 units. The ending raw materials and finished goods inventories at December 31, 2021, follow the same percentage relationships to production and sales that occur in 2022. 3 pounds of raw materials are required to make each unit of finished goods. Raw materials purchased are expected to cost $4 per pound. Prepare a production budget by quarters for the 6-month period ended June 30, 2022. BLOSSOM COMPANY Production Budget Prepare a direct materials budget by quarters for the 6-month period ended June 30, 2022. BLOSSOM COMPANY Direct Materials Budget For the Six Months Ending June 30, 2022 1 Quarter 2
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