Homework Answers
Answer-
| TRADER CYCLES | ||||
| Production Budget | ||||
| For the Months of April through June | ||||
| Particulars | April | May | June | Quarter |
| Unit sales (a) | 1000 | 1160 | 1340 | 3500 |
| Add:- Desired ending finished goods inventory (b) | 1160*30%=348 | 1340*30%=402 | 1230*30%=369 | 1119 |
| 30% of the next month's sales needs | ||||
| Less:-Opening finished goods inventory (c) | 300 | 348 | 402 | 1050 |
| Number of units to be produced (d=a+b-c) | 1048 | 1214 | 1307 | 3569 |
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$
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364,000
Raw materials inventory
107,200
Finished goods inventory
349,440
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862,640
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604,000
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$
211,300
Short-term notes payable
14,000
Total current liabilities
225,300
Long-term note payable
510,000
Total liabilities
735,300
Common stock
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