On January 1, 2022, the Lily Company budget committee has reached agreement on the following data...

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On January 1, 2022, the Lily Company budget committee has reached agreement on the following data for the 6 months ending June 30, 2022. Sales units: Ending raw materials inventory: Ending finished goods inventory. Third-quarter production: First quarter 6,500; second quarter 7,800; third quarter 9.100. 40% of the next quarter's production requirements. 25% of the next quarter's expected sales units. 9.450 units. The ending raw materials and finished goods inventories at December 31, 2021, follow the same percentage relationships to production and sales that occur in 2022. Three pounds of raw materials are required to make each unit of finished goods. Raw materials purchased are expected to cost $4 per pound. G Prepare a production budget by quarters for the 6-month period ended June 30, 2022. LILY COMPANY Production Budget > > Quarter 2 On January 1, 2022, the Lily Company budget committee has reached agreement on the following data for the 6 months ending June 30, 2022. Sales units: Ending raw materials inventory: Ending finished goods inventory. Third-quarter production: First quarter 6,500; second quarter 7,800; third quarter 9.100. 40% of the next quarter's production requirements. 25% of the next quarter's expected sales units. 9.450 units. The ending raw materials and finished goods inventories at December 31, 2021, follow the same percentage relationships to production and sales that occur in 2022. Three pounds of raw materials are required to make each unit of finished goods. Raw materials purchased are expected to cost $4 per pound. G Prepare a production budget by quarters for the 6-month period ended June 30, 2022. LILY COMPANY Production Budget > > Quarter 2

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Lily Company Production Budget for the 6 months ended June 30 2022 Given Information Sales Units Q16500 Q27800 Q39100 Ending Raw Materials Inventory40 ... View the full answer