sales budget

Project Description:

smee inc. produces all-natural organic peanut butter. the peanut butter is sold in 12-ounce jars. the sales budget for the first four months of the year is as follows:




company policy requires that ending inventories for each month be 15 percent of next month's sales. at the beginning of january, the inventory of peanut butter is 36,000 jars.

each jar of peanut butter needs two raw materials: 24 ounces of peanuts and one jar. company policy requires that ending inventories of raw materials for each month be 20 percent of the next month’s production needs. that policy was met on january 1.









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1. prepare a production budget for the first quarter of the year. show the number of jars that should be produced each month as well as for the quarter in total.





smee inc.




production budget




for the first quarter of the year





january




february




march




total





sales

























desired ending inventory

























total needs

























less: beginning inventory

























units produced

































































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2a. prepare a direct materials purchases budget for jars for the months of january and february. do not include a multiplication symbol as part of your answer.





smee, inc.




direct materials purchases budget for jars




for january and february





january




february




total





production




















jar




















jars for production




















desired ending inventory




















total needs




















less: beginning inventory




















jars purchased




























































hide




2b. prepare a direct materials purchases budget for peanuts for the months of january and february. do not include a multiplication symbol as part of your answer.





smee, inc.




direct materials purchases budget for peanuts




for january and february





january




february




total





production




















ounces




















ounces for production




















desired ending inventory




















total needs




















less: beginning inventory




















ounces purchased






















































































graded










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