Exercise 23-6 (Part Level Submission) On January 1, 2017, the Hardin Company bud

Question

Exercise 23-6 (Part Level Submission) On January 1, 2017, the Hardin Company budget committee has reached agreement on the following data for the 6 months ending June 30, 2017 Sales units En Ending finished goods inventory: Third-quarter production: First quarter 5,000; second quarter 6,000; third quarter 7,000 25% of the next quarter's expected sales units 7,350 units ounds of ra . m ate a sa e The ending raw materials and finished goods inventories at December 31 2016 folo the same percentage relationships to production and sales that occur in 20 ? required to make each unit of finished goods. Raw materials purchased are expected to cost $4 per pound ? (a) Prepare a production budget by quarters for the 6-month period ended June 30, 2017, HARDIN COMPANY Production Budget For the Six Months Ending June 30, 2017 Quarter Six Months 5,500 6,000 Expected Unit Sales Addsired Ending Finished Goods Unit Total Required Units Less 3:Beginning Finished Goods Unit Required Production Units

Explanation / Answer

Production Budget For the Six Months Ending June 30, 2017 1 2 Year Expected Unit Sales 5000 6000 Add: Desired ending Finished goods units 1500 1750 Total Required Units 6500 7750 Less:Beginning Finished goods units 1250 1500 Required Production Units 5250 6250 11500

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