Please do not give solution in image format thanku Production Budget and Direct Materials Purchases BudgetsPets Plus, Inc. produces otic fluid for dogs. The otic fluid is sold in 12-ounce plastic bottles. The sales budget for the first four months of the year is as follows:JanuaryFebruaryMarchUnit Sales40,00050,00070,00046,000AprilCompany policy requires that ending inventories for each month be 10% of next month's sales. At the beginning of January, the inventory of otic fluid is 36,000 bottles.Each bottle of otic fluid needs two raw materials: eight ounces of a mix of salicylic acid and water and one plastic bottle. Company policy requires that ending inventories of raw materials for each month be 20% ofthe next month's production needs. That policy was met on January 1. 1. Prepare a production budget for the first quarter of the year. Show the number of bottles that should be produced each month as well as for the quarter in total.Pets Plus, Inc.Production BudgetFor the First Quarter of the YearLine Item Description January February MarchSalesDesired ending inventoryTotal needsLess: Beginning inventoryUnits producedTotal2. Prepare direct materials purchases budget for bottles for the months of January and February. Round all calculations to the nearest whole number.Pet Plus, Inc.Direct Materials Purchases Budget for BottlesFor January and FebruaryLine Item Description January February TotalProductionBottlesBottles for productionDesired ending inventoryTotal needsLess: Beginning inventoryBottles purchasedPrepare a direct materials purchases budget for salicylic acid and water mixture for the months of January and February. Round all calculations to the nearest whole number.Pet Plus, Inc.Direct Materials Purchases Budget for Fluid mixtureFor January and FebruaryLine Item Description January February TotalProductionOuncesOunces for productionDesired ending inventoryTotal needsLess: Beginning inventoryOunces purchased

Production budget :— This budget is prepared to estimate the number of units to be produced for…

Production Budget and Direct Materials Purchases Budgets Pets Plus, Inc. produces otic fluid for dogs. The otic fluid is sold in 12-ounce plastic bottles. The sales budget for the first four months of the year is as follows: January February Unit Sales 40,000 50,000 70,000 April 46,000 Company policy requires that ending inventories for each month be 10% of next month's sales. At the beginning of January, the inventory of otic fluid is 36,000 bottles. March Each bottle of otic fluid needs two raw materials: eight ounces of a mix of salicylic acid and water and one plastic bottle. Company policy requires that ending inventories of raw materials for each month be 20% of the next month's production needs. That policy was met on January 1.

Production Budget and Direct Materials Purchases Budgets Pets Plus, Inc. produces otic fluid for dogs. The otic fluid is sold in 12-ounce plastic bottles. The sales budget for the first four months of the year is as follows: January February Unit Sales 40,000 50,000 70,000 April 46,000 Company policy requires that ending inventories for each month be 10% of next month's sales. At the beginning of January, the inventory of otic fluid is 36,000 bottles. March Each bottle of otic fluid needs two raw materials: eight ounces of a mix of salicylic acid and water and one plastic bottle. Company policy requires that ending inventories of raw materials for each month be 20% of the next month's production needs. That policy was met on January 1.

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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