Target Corporation had the following budgeted sales: 2024 June July August September October Units 2,200 2,500 2,000 1,700 1,600 The following additional information was given: Ending Finished Goods Inventory on May 31, 2024 was: Direct Materials per Finished Good Unit: Average Cost per Pound of Direct Material: Finished Goods Inventory should be: Direcet Materials Inventory should be: Ending Direct Materials Inventory on May 31, 2024 was: 2,100 Units 3 Pounds of Direct Material $5 per Pound 20% Next Month's Anticipated Sales 30% Pounds Needed for Next Month's Production 9,090 Pounds of Direct Material Calculate the amount of required production of finished goods units for the month of August 2024. Round to the nearest whole number (ex. 2004-200; 200.5-201) Only enter numbers into answer space, do not enter anything other than numbers.
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
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