McKnight Manufacturing produces self-watering planters for use in upscale retail establishments. Sales projections for the first five months of the upcoming year show the estimated unit sales of the planters each month to be as follows:
Inventory at the start of the year was 850 planters. The desired inventory of planters at the end of each month should be equal to 25% of the following month's budgeted sales. Each planter requires four pounds of polypropylene (a type of plastic). The company wants to have 20% of the polypropylene required for next month's production on hand at the end of each month. The polypropylene costs $0.10 per pound.
Juda Manufacturing
Production Budget
For the Months of January through March
January February March Quarter
Unit sales Plus: Desired ending inventory
Total needed
Less: Beginning inventory
Units to produce
Number of platers to be sold
January 3,900
February 3,200
March 3,700
April 4,400
May 4,900
Requirement:
1. Prepare a production budget for each month in the first quarter of the year, including production in units for each month and for the quarter.
2. Prepare a direct materials budget for the polypropylene for each month in the first quarter of the Start by preparing the direct materials budget through the total quantity needed, then complete the budget including production in units for each month and for the quarter
Answers: 1
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McKnight Manufacturing produces self-watering planters for use in upscale retail establishments. Sal...
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