Question
In: Accounting
Moriarity Company has budgeted the following unit sales: 1st Quarter 2019 7,000 2nd Quarter 2019 3,000...
Moriarity Company has budgeted the following unit sales: 1st Quarter 2019 7,000 2nd Quarter 2019 3,000 3rd Quarter 2019 4,000 Beginning finished goods for the first quarter was 1,400 units. The company's policy is to maintain an inventory of finished goods as 20% of the next quarter sales. The production budget for the SECOND quarter is __________. (no dollar signs, decimals or commas) HINT: you must calculate the first quarter in order to calculate the 2nd quarter.
Solutions
Expert Solution
| Q1 | Q2 | Q3 | |
| Sales unit | 7,000 | 3,000 | 4,000 |
| Ending inventory of finished goods | 3,000 x 20% = 600 | 4,000 x 20% = 800 | |
| Total finished goods inventory needed | 7,600 | 3,800 | |
| Beginning inventory of finished goods | -600 | ||
| Production Units | 3,200 |
Moriarity Company has budgeted the following unit sales: 1st Quarter 2019 7,000 2nd Quarter 2019 3,000 3rd Quarter 2019 4,000 Beginning finished goods for the first quarter was 1,400 units. The company's policy is to maintain an inventory of finished goods as 20% of the next quarter sales. The production budget for the SECOND quarter is 3200.
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ekkarill92 answered 2 years agoRelated Solutions
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