.com/courses/16066/quizzes/91312/takeŐ –Garver Industries has budgeted the following unit sales:2020UnitsJanuaryFebruary3F3 +E#AprilMayThe finished goods units on hand on December 31, 2019, was 2,000 units. Each unit requires 3 pounds of raw materials that areestimated to cost an average of $4 per pound. It is the company's policy to maintain a finished goods inventory at the end ofeach month equal to 20% of next month's anticipated sales.MarchExpected unit salesInstructionsFor the first quarter of 2020, prepare a production budget.Desired ending finished goods unitsTotal required unitsLess: Beginning finished goods unitsF4Required production unitsⓇ4 $RF5 H5 %TGARVER INDUSTRIESProduction BudgetFor the Quarter Ended March 31, 2020January FebruaryF68,000H10,0009,0006 AY11,00015,000F7 Ca F8 ÖSearch7 &UF98 *March00 F10ILG+0009 (TotalOITAFF11 -0 )OF12 +PPrt ScScrLkIns= +DelBackspa

Production budget: It implies to a financial estimate that is prepared based on the forecasted sales…

Garver Industries has budgeted the following unit sales: 2020 Units 8,000 10,000 January February March April May The finished goods units on hand on December 31, 2019, was 2,000 units. Each unit requires 3 pounds of raw materials that are estimated to cost an average of $4 per pound. It is the company's policy to maintain a finished goods inventory at the end of each month equal to 20% of next month's anticipated sales. Instructions For the first quarter of 2020, prepare a production budget. Expected unit sales Desired ending finished goods units Total required units GARVER INDUSTRIES Production Budget For the Quarter Ended March 31, 2020 January February Less: Beginning finished goods units 9,000 11,000 Required production units 15,000 March Total 2000

Garver Industries has budgeted the following unit sales: 2020 Units 8,000 10,000 January February March April May The finished goods units on hand on December 31, 2019, was 2,000 units. Each unit requires 3 pounds of raw materials that are estimated to cost an average of $4 per pound. It is the company's policy to maintain a finished goods inventory at the end of each month equal to 20% of next month's anticipated sales. Instructions For the first quarter of 2020, prepare a production budget. Expected unit sales Desired ending finished goods units Total required units GARVER INDUSTRIES Production Budget For the Quarter Ended March 31, 2020 January February Less: Beginning finished goods units 9,000 11,000 Required production units 15,000 March Total 2000

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter8: Budgeting For Planning And Control

Section: Chapter Questions

Problem 7CE: Refer to Cornerstone Exercise 8.6. Required: 1. Calculate the total budgeted cost of units produced...

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