Each gallon of Old Guard, a popular aftershave lotion, requires 2.5 ounces of ocean scent....
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Accounting
Each gallon of Old Guard, a popular aftershave lotion, requires 2.5 ounces of ocean scent. Budgeted production of Old Guard for the first three quarters of 2016 is as follows:
| Quarter I | 12,000 | gallons |
| Quarter II | 18,000 | gallons |
| Quarter III | 12,000 | gallons |
Managements policy is to have on hand at the end of every quarter enough ocean scent inventory to meet 33% of the next quarters production needs. At the beginning of Quarter I, 9,900 ounces of ocean scent were on hand.
Required:
a. Calculate the number of ounces of ocean scent to be purchased in each of the first two quarters of 2016.
Number of ounces:
Quarter 1
Quarter 2
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