Problem $1(12$ points$)$ The McCrummen Company prepared the following Sales Budget for $2024.$

Instructions: Prepare a Production Budget using the Sales Budget and the following additional information on a scratch paper and then answer the

questions by filling in the blanks. Do not use commas.

Management desires to have an ending finished goods inventory for each month equal to $10\%$ of the following month's budgeted sales. Beginning

finished goods inventory for Jan $2024$ is $250$ units.

Production Budget

Required

Jan

Feb

Mar

Ending Finished Goods Inventory

Beginning Finished Goods Inventory Jan

Feb

Mar

Production

Jan

Feb

Mar