Reference no: EM133269776
Question: The Caribbean Industrial Producers manufactures two products, "Zinc" and" "Ply". The following sales forecast for 2016 was decided on by the budget committee and presented to you the management accountant.
Sales forecast
| Details |
Zinc/units |
Ply /units |
| December 2015 |
6,000 |
3,700 |
| January 2016 |
5,500 |
4,000 |
| February 2016 |
6,200 |
4,500 |
| March 2016 |
5,000 |
5,200 |
| April 2016 |
4,500 |
5,100 |
| May 2016 |
6,400 |
4,800 |
Notes:
(i) During 2016 the company sold one unit of Zinc for $1,200 while one unit of Ply was sold for $1,500.
(ii) To make one unit of Zinc four units of raw material BZN980 are used, while two units of raw material CZN980 are used to produce one unit of Ply. .
(iii) Raw materials stock in units at the end of each month is to be held at a level equal to twenty percent (20%) of the forecasted sales for the next month.
(iv) It was decided by management that at the end of each month there should be enough finished goods stock on hand to meet fifteen (15%) of the sales for the next month.
(v) During 2016, direct raw material charge per unit was budgeted at ten percent (10%) of the unit selling price of the finished products.
Required:
For the period, January 2016 to April 2016 do the following:
The company's sale budget.
The production budget for both products.
The direct raw materials usage budget for both products.
The direct raw materials purchases budget.
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