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Garver Industries has budgeted the following unit sales: The finished goods units on hand...

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Question

Accounting

Garver Industries has budgeted the following unit sales:
The finished goods units on hand on December 31,2019, was 2,000 units. Each unit requires 3 pounds of raw materials that are estimated to cost an average of $4 per pound. It is the
company's policy to maintain a finished goods inventory at the end of each month equal to 20% of next month's anticipated sales.
Instructions
For the first quarter of 2020, prepare a production budget.
GARVER INDUSTRIES
Production Budget
For the Quarter Ended March 31,2020
January February March Total
Expected unit sales
Desired ending finished goods units
Total required units
Less: Beginning finished goods units
Required production units
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