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On January 1, 2022, the Bonita 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: 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. Three 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 BONITA COMPANY Production Budget For the Six Months Ending June 30.2022 Expected Unit Sales Add V First quarter 6,800; second quarter 8,160; third quarter 9,520. 40% of the next quarter's production requirements. 25% of the next quarter's expected sales units. 9,870 units. Total Required Units Less V Desired Ending Finished Goods Units Required Production Units V Beginning Finished Goods Units 6800 Quarter 2040 8840 1700 7:40 2 8160 2380 10540 2020 8500

On January 1, 2022, the Bonita 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: 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. Three 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 BONITA COMPANY Production Budget For the Six Months Ending June 30.2022 Expected Unit Sales Add V First quarter 6,800; second quarter 8,160; third quarter 9,520. 40% of the next quarter's production requirements. 25% of the next quarter's expected sales units. 9,870 units. Total Required Units Less V Desired Ending Finished Goods Units Required Production Units V Beginning Finished Goods Units 6800 Quarter 2040 8840 1700 7:40 2 8160 2380 10540 2020 8500

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 Bonita 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: 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. Three 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. BONITA COMPANY Production Budget For the Six Months Ending June 30, 2022 Expected Unit Sales Add V First quarter 6,800; second quarter 8,160; third quarter 9,520. 40% of the next quarter's production requirements. 25% of the next quarter's expected sales units. 9,870 units. Total Required Units Less v Desired Ending Finished Goods Units V Required Production Units M Beginning Finished Goods Units V 1 Quarter 6800 2040 8840 1700 7:40 2 8160 2380 10540 2020 8500
Transcribed Image Text:On January 1, 2022, the Bonita 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: 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. Three 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. BONITA COMPANY Production Budget For the Six Months Ending June 30, 2022 Expected Unit Sales Add V First quarter 6,800; second quarter 8,160; third quarter 9,520. 40% of the next quarter's production requirements. 25% of the next quarter's expected sales units. 9,870 units. Total Required Units Less v Desired Ending Finished Goods Units V Required Production Units M Beginning Finished Goods Units V 1 Quarter 6800 2040 8840 1700 7:40 2 8160 2380 10540 2020 8500
Prepare a production budget by quarters for the 6-month period ended June 30, 2022. BONITA COMPANY Production Budget For the Six Months Ending June 30, 2022 red Ending Finished Goods Units nning Finished Goods Units n Units (b) v (b) apalale V S S v V V 1 6800 BONITA COMPANY Direct Materials Budget 1 2040 8840 1700 Prepare a direct materials budget by quarters for the 6-month perlod ended June 30, 2020. BONITA COMPANY Direct Materials Budget 7140 Prepare a direct materials budget by quarters for the 6-month perlod ended June 30, 2020. Quarter Quarter $ S S S 2 1 2 8160 2380 10540 2020 8500 Quarter $ 2 Six Months Six Months 15640
Transcribed Image Text:Prepare a production budget by quarters for the 6-month period ended June 30, 2022. BONITA COMPANY Production Budget For the Six Months Ending June 30, 2022 red Ending Finished Goods Units nning Finished Goods Units n Units (b) v (b) apalale V S S v V V 1 6800 BONITA COMPANY Direct Materials Budget 1 2040 8840 1700 Prepare a direct materials budget by quarters for the 6-month perlod ended June 30, 2020. BONITA COMPANY Direct Materials Budget 7140 Prepare a direct materials budget by quarters for the 6-month perlod ended June 30, 2020. Quarter Quarter $ S S S 2 1 2 8160 2380 10540 2020 8500 Quarter $ 2 Six Months Six Months 15640
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