White Corporation's budget calls for the following sales for next year: Quarter 196,500 units Quarter 2 82,000 units Quarter 3 67,700 units Quarter 4 98,800 Each unit of the product requires 3 pounds of direct materials. The company's policy is to begin each quarter with an inventory of product equal to 5% of that quater's estimated sales requirements and an inventory of direct materials equal to 20% of that quarter's estimated direct materials requirements for production. 1. Determine the production budget for the second quarter: Budgeted sales_. Desired ending inventory. Total units needed Beginning inventory Total units to produce_ 2. Determine the materials purchases budget for the second quater: Budgeted production Direct materials (lbs.) per unit produced Direct materials needed in production Desired ending inventory of direct materials (lbs.)__ Total direct materials needed. Beginning inventory of direct materials Budgeted purchases of direct materials (lbs.).

White Corporation's budget calls for the following sales for next year: Quarter 196,500 units Quarter 2 82,000 units Quarter 3 67,700 units Quarter 4 98,800 Each unit of the product requires 3 pounds of direct materials. The company's policy is to begin each quarter with an inventory of product equal to 5% of that quater's estimated sales requirements and an inventory of direct materials equal to 20% of that quarter's estimated direct materials requirements for production. 1. Determine the production budget for the second quarter: Budgeted sales_. Desired ending inventory. Total units needed Beginning inventory Total units to produce_ 2. Determine the materials purchases budget for the second quater: Budgeted production Direct materials (lbs.) per unit produced Direct materials needed in production Desired ending inventory of direct materials (lbs.)__ Total direct materials needed. Beginning inventory of direct materials Budgeted purchases of direct materials (lbs.).

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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