Patrick Inc. makes industrial solvents. In the first 4 months of the coming year, Patrick expects the following unit sales. January 41,000 February 38,000 March 50,000 Aprill Patrick's policy is to have 21% of next month's sales in ending inventory. On January 1, It is expected that there will be 4,500 drums of solvent on hand. Required: Prepare a production budget for the first quarter of the year. Show the number of drums that should be produced each month as well as for the quarter in total. If required, round your answers to the nearest whole unit. 51,000

Patrick Inc. makes industrial solvents. In the first 4 months of the coming year, Patrick expects the following unit sales. January 41,000 February 38,000 March 50,000 Aprill Patrick's policy is to have 21% of next month's sales in ending inventory. On January 1, It is expected that there will be 4,500 drums of solvent on hand. Required: Prepare a production budget for the first quarter of the year. Show the number of drums that should be produced each month as well as for the quarter in total. If required, round your answers to the nearest whole unit. 51,000

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 1PA: Lens Junction sells lenses for $45 each and is estimating sales of 15,000 units in January and...

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