ACCOUTING PRIN SET LL INCLUSIVE
14th Edition
ISBN: 9781119815327
Author: Weygandt
Publisher: WILEY
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Lisa Meilo works for Pacific Company show completed results Accounting 100 chapter 7
Barbara Jones is preparing the 2022 budget for one of Current Designs' rotomoulded kayaks. Extensive meetings with members of
the sales department and executive team have resulted in the following unit sales projections for 2022.
Quarter 1
2,800 kayaks
Quarter 2
3,600 kayaks
Quarter 3
2,400 kayaks
Quarter 4
2,400 kayaks
Current Designs' policy is to have finished goods ending inventory in a quarter equal to 25% of the next quarter's anticipated sales.
Preliminary sales projections for 2023 are 1,100 units for the first quarter and 3,600 units for the second quarter. Ending inventory of
finished goods at December 31, 2021, will be 700 rotomoulded kayaks.
Production of each kayak requires 56 kg of polyethylene powder and a finishing kit (rope, seat, hardware, etc). Company policy is that
the ending inventory of polyethylene powder should be 20% of the amount needed for production in the next quarter. Assume that
the ending inventory of polyethylene powder on December 31, 2021, is 20,000…
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