Turney Company produces and sells automobile batteries, the heavy-duty HD-240. The 2017 sales forecast is as follows. Quarter HD-240 1 5,100 2 7,320 3 8,280 4 10,430 The January 1, 2017, inventory of HD-240 is 2,040 units. Management desires an ending inventory each quarter equal to 40% of the next quarter’s sales. Sales in the first quarter of 2018 are expected to be 25% higher than sales in the same quarter in 2017. Prepare quarterly production budgets for each quarter and in total for 2017. TURNEY COMPANY Production Budget choose the accounting period Product HD-240 Quarter 1 2 3 4 Year select an opening Production Budget item Enter a number of units Enter a number of units Enter a number of units Enter a number of units select between addition and deduction : select a production budget item Enter a number of units Enter a number of units Enter a number of units Enter a number of units select a summarizing line for the first part enter a total number of units for the first part enter a total number of units for the first part enter a total number of units for the first part enter a total number of units for the first part select between addition and deduction : select a production budget item Enter a number of units Enter a number of units Enter a number of units Enter a number of units select a closing Production Budget item enter a total amount for the Production Budget enter a total amount for the Production Budget enter a total amount for the Production Budget enter a total amount for the Production Budget enter a total amount for the Production Budget

Turney Company produces and sells automobile batteries, the heavy-duty HD-240. The 2017 sales forecast is as follows. Quarter HD-240 1 5,100 2 7,320 3 8,280 4 10,430 The January 1, 2017, inventory of HD-240 is 2,040 units. Management desires an ending inventory each quarter equal to 40% of the next quarter’s sales. Sales in the first quarter of 2018 are expected to be 25% higher than sales in the same quarter in 2017. Prepare quarterly production budgets for each quarter and in total for 2017. TURNEY COMPANY Production Budget choose the accounting period Product HD-240 Quarter 1 2 3 4 Year select an opening Production Budget item Enter a number of units Enter a number of units Enter a number of units Enter a number of units select between addition and deduction : select a production budget item Enter a number of units Enter a number of units Enter a number of units Enter a number of units select a summarizing line for the first part enter a total number of units for the first part enter a total number of units for the first part enter a total number of units for the first part enter a total number of units for the first part select between addition and deduction : select a production budget item Enter a number of units Enter a number of units Enter a number of units Enter a number of units select a closing Production Budget item enter a total amount for the Production Budget enter a total amount for the Production Budget enter a total amount for the Production Budget enter a total amount for the Production Budget enter a total amount for the Production Budget

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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Turney Company produces and sells automobile batteries, the heavy-duty HD-240. The 2017 sales forecast is as follows.

Quarter		HD-240
1		5,100
2		7,320
3		8,280
4		10,430

The January 1, 2017, inventory of HD-240 is 2,040 units. Management desires an ending inventory each quarter equal to 40% of the next quarter’s sales. Sales in the first quarter of 2018 are expected to be 25% higher than sales in the same quarter in 2017.

Prepare quarterly production budgets for each quarter and in total for 2017.

TURNEY COMPANY Production Budget choose the accounting period
Product HD-240
	Quarter
		1	2	3	4	Year
select an opening Production Budget item		Enter a number of units	Enter a number of units	Enter a number of units	Enter a number of units
select between addition and deduction : select a production budget item		Enter a number of units	Enter a number of units	Enter a number of units	Enter a number of units
select a summarizing line for the first part		enter a total number of units for the first part	enter a total number of units for the first part	enter a total number of units for the first part	enter a total number of units for the first part
select between addition and deduction : select a production budget item		Enter a number of units	Enter a number of units	Enter a number of units	Enter a number of units
select a closing Production Budget item		enter a total amount for the Production Budget	enter a total amount for the Production Budget	enter a total amount for the Production Budget	enter a total amount for the Production Budget	enter a total amount for the Production Budget

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