Question: Ringer Foods produces specialty soup sold in jars The projected
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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