Problem 1(12 points) The McCrummen Company prepared the following Sales Budget for 2024. Month...
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Accounting
Problem points The McCrummen Company prepared the following Sales Budget for
Month
Jan
Feb
Mar
Apr
Expected Unit Sales
Instructions: Prepare a Production Budget using the Sales Budget and the following additional information on a scratch paper and then answer the questions by filling in the blanks. Do not use commas.
Management desires to have an ending finished goods inventory for each month equal to of the following month's budgeted sales. Beginning finished goods inventory for Jan is units.
Production Budget
Month
Expected Unit Sales
Ending Finished Goods Inventory
Mar
Required
Mar
Beginning Finished Goods Inventory
Jan
Jan
Jan
Jan
Feb
Feb
Feb
Feb
Answer & Explanation
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