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Budget Preparation

Given the following information, prepare a sales budget, a raw materials inventory purchase budget and a production budget.

Sales forecast 10,000 units of ASD-34 at $159 each
Beginning raw materials inventory 1,000 units of UIO-89 at a cost of $12.00 each
Ending raw materials inventory 2000 units of UIO-89
Beginning finished goods inventory 3,000 units of ASD-34
Ending finished goods inventory 4,000 units of ASD-34
Each unit of ASD-34 produced requires:
2 units of UIO-89
3 direct labors hours at $23.00 per hour
Manufacturing overhead at 150% of direct labor cost.

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Solution Summary

The solution prepares a sales budget, a raw materials inventory purchase budget, and a production budget.

Solution provided by:
  • BSc, University of Virginia
  • MSc, University of Virginia
  • PhD, Georgia State University
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