Ringer Foods produces specialty soup sold in jars. The projected sales in dollars and jars for each quarter of the upcoming year are as follows:
Ringer anticipates selling 220,000 jars with total sales revenue of $264,000 in the first quarter of the year following the year given in the preceding table. Ringer has a policy that the ending inventory of jars must be 25% of the following quarter’s sales. Prepare a production budget for the year that shows the number of jars to be produced each quarter and for the year in total.
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