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Four grams of musk oil are required for each bottle of Mink Caress, a very...

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Accounting

Four grams of musk oil are required for each bottle of Mink Caress, a very popular perfume made by a small company in western Siberia. The cost of the musk oil is $1.90 per gram. Budgeted production of Mink Caress is given below by quarters for Year 2 and for the first quarter of Year 3:

Year Two Year Three

First Second Third Fourth First

Budgeted production, in bottles 96,000 126,000 186,000 136,000 106,000

Musk oil has become so popular as a perfume ingredient that it has become necessary to carry large inventories as a precaution against stock-outs. For this reason, the inventory of musk oil at the end of a quarter must be equal to 20% of the following quarters production needs. Some 76,800 grams of musk oil will be on hand to start the first quarter of Year 2.

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