EXTRA INFO:
Number of planters to be sold
January. . . . . .3,900
February. . . . .3,700
March. . . . . . . .3,100
April. . . . . . . . .4,500
May. . . . . . . . .4,900
positive rating upon completion rewarded~
1)
Cleary Manufacturing | ||||
Production Budget | ||||
For the Months of January through March | ||||
January | February | March | Quarter | |
Unit sales | 3900 | 3700 | 3100 | 10700 |
Plus: Desired ending inventory | 370 | 310 | 450 | 450 |
Total needed | 4270 | 4010 | 3550 | 11150 |
Less: Beginning inventory | -390 | -370 | -310 | -390 |
Units to produce | 3880 | 3640 | 3240 | 10760 |
Calculation of Desired ending inventory of Planters
January= 3700*10%= 370
February= 3100*10%= 310
March= 4500*10%= 450
2)
Cleary Manufacturing | ||||
Direct Materials Budget | ||||
For the Months of January through March | ||||
January | February | March | Quarter | |
Units to be produced | 3880 | 3640 | 3240 | 10760 |
Multiply by: Quantity of direct materials needed per unit | 3 | 3 | 3 | 3 |
Quantity needed for production | 11640 | 10920 | 9720 | 32280 |
Plus: Desired ending inventory of direct materials | 2184 | 1944 | 2724 | 2724 |
Total quantity needed | 13824 | 12864 | 12444 | 35004 |
Less: Beginning inventory of direct materials | -2328 | -2184 | -1944 | -2328 |
Quantity to purchase | 11496 | 10680 | 10500 | 32676 |
Multiply by: Cost per pound | $0.25 | $0.25 | $0.25 | $0.25 |
Total cost of direct materials purchases | $2874 | $2670 | $2625 | $8169 |
Calculation of Desired ending inventory of direct materials
January= 10920*20%= 2184
February= 9720*20%= 1944
March= 4500+(4900*10%)-(4500*10%)= 4540*3*20%= 2724
Calculation of Beginning inventory of direct materials
January= 11640*20%= 2328
EXTRA INFO: Number of planters to be sold January. . . . . .3,900 February. ....
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