Question

XO Manufacturing's sales budget showed the following projections, by quarter, for the next six quarters: Quarter  ...

XO Manufacturing's sales budget showed the following projections, by quarter, for the next six quarters:

Quarter   1st 2021   2nd 2021   3rd 2021 4th 2021   1st 2022   2nd 2022

Units       10,000       12,000       14,000     16,000       12,000       14,000

Inventory on December 31 of 2020 is expected to be 1,000 units.

The quantity of finished goods inventory at the end of each quarter is to equal

10%of the next quarter's budgeted units to be sold.

Required: Prepare a Production Budget for XO for 2021 showing each quarter and the year.

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

For any clarifications please comment.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Shocker Corporation's sales budget shows quarterly sales for the next year as follows: Unit sales Quarter...
Shocker Corporation's sales budget shows quarterly sales for the next year as follows: Unit sales Quarter 1 10,000 units Quarter 2 8,000 units Quarter 3 12,000 units Quarter 4 14,000 units Corporation policy is to have a finished goods inventory at the end of each quarter equal to 20% of the next quarter's sales. Budgeted production for the second quarter of the next year would be: 8,000 units 8,800 units 8,400 units 7,200 units
The marketing department of Colette Corporation has submitted the following sales forecast for the upcoming fiscal...
The marketing department of Colette Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account, and recorded in Accounts Receivable): 1st quarter 2nd quarter 3rd quarter 4th quarter Budgeted unit sales 10,000 13,000 12,000 15,000 The selling price of the company's product is $15 per unit. Management expects to collect 60% of sales in the quarter in which the sales are made, 35% in the following quarter, and 5% of sales are expected...
The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal...
The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account): 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Budgeted unit sales 11,000 12,000 14,000 13,000 The selling price of the company’s product is $18.00 per unit. Management expects to collect 65% of sales in the quarter in which the sales are made, 30% in the following quarter, and 5% of sales are expected to be uncollectible. The beginning...
he marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal...
he marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account): 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Budgeted unit sales 12,700 13,700 15,700 14,700 The selling price of the company’s product is $26 per unit. Management expects to collect 75% of sales in the quarter in which the sales are made, 20% in the following quarter, and 5% of sales are expected to be uncollectible. The beginning...
Production Budget Assume that Stillwater Designs produces two automotive subwoofers: S12L7 and S12L5. The S12L7 sells...
Production Budget Assume that Stillwater Designs produces two automotive subwoofers: S12L7 and S12L5. The S12L7 sells for $475, and the S12L5 sells for $300. Projected sales (number of speakers) for the coming five quarters are as follows: S12L7 S12L5 First quarter, 20X1 880 1,430 Second quarter, 20X1 2,420 1,540 Third quarter, 20X1 6,160 5,830 Fourth quarter, 20X1 5,060 4,290 First quarter, 20X2 990 1,320 The vice president of sales believes that the projected sales are realistic and can be achieved...
  Tara’s Treasures is preparing her Budget for 2020 and has ESTIMATED the following data: SALES:  Sales for...
  Tara’s Treasures is preparing her Budget for 2020 and has ESTIMATED the following data: SALES:  Sales for 2020 are projected to be 4,300,000 units with 20% in Quarter 1, 35% in Quarter 2, 15% in Quarter 3 and 30% in the 4th Quarter.   The Sales Price will be $50 in the 1st 2 Quarters and $55 in the 4th Quarter.. Sales in 2021 are expected to be 10% higher than the 1st Quarter of 2020. This is all I was given...
Production Budget Assume that Stillwater Designs produces two automotive subwoofers: S12L7 and S12L5. The S12L7 sells...
Production Budget Assume that Stillwater Designs produces two automotive subwoofers: S12L7 and S12L5. The S12L7 sells for $475, and the S12L5 sells for $300. Projected sales (number of speakers) for the coming five quarters are as follows: S12L7 S12L5 First quarter, 20Y1 920 1,495 Second quarter, 20Y1 2,530 1,610 Third quarter, 20Y1 6,440 6,095 Fourth quarter, 20Y1 5,290 4,485 First quarter, 20Y2 1,035 1,380 The vice president of sales believes that the projected sales are realistic and can be achieved...
Production Budget Assume that Stillwater Designs produces two automotive subwoofers: S12L7 and S12L5. The S12L7 sells...
Production Budget Assume that Stillwater Designs produces two automotive subwoofers: S12L7 and S12L5. The S12L7 sells for $475, and the S12L5 sells for $300. Projected sales (number of speakers) for the coming five quarters are as follows: S12L7 S12L5 First quarter, 20X1 1,120 1,820 Second quarter, 20X1 3,080 1,960 Third quarter, 20X1 7,840 7,420 Fourth quarter, 20X1 6,440 5,460 First quarter, 20X2 1,260 1,680 The vice president of sales believes that the projected sales are realistic and can be achieved...
On January 1, 2020, the Hardin Company budget committee has reached agreement on the following data...
On January 1, 2020, the Hardin Company budget committee has reached agreement on the following data for the 6 months ending June 30, 2020. Prepare production and direct materials budgets by quarters for 6 months. Sales units: First quarter 5,000; second quarter 6,000; third quarter 7,000. Ending raw materials inventory: 40% of the next quarter's production requirements. Ending finished goods inventory: 25% of the next quarter's expected sales units. Third-quarter production: 7,200 units. The ending raw materials and finished goods...
The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal...
The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account): 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter   Budgeted unit sales 12,700       13,700       15,700       14,700       The selling price of the company’s product is $26 per unit. Management expects to collect 75% of sales in the quarter in which the sales are made, 20% in the following quarter, and 5% of sales are expected to...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT