Hoffman Foods produces specialty soup sold in jars. The projected sales in dollars and jars for each quarter of the upcoming year are as follows: Total sales revenue 181,000 219,000 1st quarter.... S 2nd quarter... $ 3rd quarter ... S 255,000 4th quarter...S 199,000 Number of jars sold Unit sales Plus: Desired ending inventory Total needed 152,500 181,500 213,000 160,500 Prepare the production budget by first calculating the total units needed, then calculate the units to produce. Hoffman Foods Production Budget For the Quarters in the Upcoming Year Quarter 1 Quarter 2 Quarter 3 Quarter 4 Year Hoffman anticipates selling 223,000 jars with total sales revenue of $260,000 in the first quarter of the year following the year given in the preceding table. Hoffman has a policy that the ending inventory of jars must be 30% of the following quarter's sales. Requirement Prepare a production budget for the year that shows the number of jars to be produced each quarter and for the year in total.

Hoffman Foods produces specialty soup sold in jars. The projected sales in dollars and jars for each quarter of the upcoming year are as follows: Total sales revenue 181,000 219,000 1st quarter.... S 2nd quarter... $ 3rd quarter ... S 255,000 4th quarter...S 199,000 Number of jars sold Unit sales Plus: Desired ending inventory Total needed 152,500 181,500 213,000 160,500 Prepare the production budget by first calculating the total units needed, then calculate the units to produce. Hoffman Foods Production Budget For the Quarters in the Upcoming Year Quarter 1 Quarter 2 Quarter 3 Quarter 4 Year Hoffman anticipates selling 223,000 jars with total sales revenue of $260,000 in the first quarter of the year following the year given in the preceding table. Hoffman has a policy that the ending inventory of jars must be 30% of the following quarter's sales. Requirement Prepare a production budget for the year that shows the number of jars to be produced each quarter and for the year in total.

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter22: Master Budget (master)

Section: Chapter Questions

Problem 1R: Ranger Industries has provided the following information at June 30: Other information: Average...

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