Which requires the application of your budgeting skills

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Data Scenario: You have just been hired into a management position which requires the application of your budgeting skills. You find out that budgeting has not been a priority of the company. You have contacted various areas on the organization and have accumulated the information below to assist you in preparing a comprehensive budget. Manufacturing Inc. produces a part used in the production of engines. Actual Sales and Projected sales in units: March (Actual) 38,000 April 40,000 May 42,000 June 45,000 July 44,000 Sales are the following type: 48% Cash sales collected in month of sale 52% Credit sales collected in the following month of sale The following data pertains to the manufacturing process.

1. Finished goods inventory March 31st 28,800 units $125.00 budgeted cost to make a unit Desired ending finished goods for each month 72% of next month's sales volume

2. Direct materials used: Direct Material Per-Unit Usage Cost per Pound Metal 8 pounds $7 The beginning balance of each month needs to be able to produce 43% of that month's estimated sales volume Beginning material in pounds as of April 1st 137,600 Direct materials paid in month purchased.

Reference no: EM133735187

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