Part A Epic Foods produces specialty soup sold in mason jars. The projected sales in...
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Accounting
Part A
Epic Foods produces specialty soup sold in mason jars. The projected sales in dollars and jars for each quarter of the upcoming year are as follows:
| Total sales revenue | Number of jars sold | |
| 1st quarter (2021) | $182,000 | 150,000 |
| 2nd quarter(2021) | $210,000 | 180,500 |
| 3rd quarter(2021) | $251,000 | 213,500 |
| 4th quarter(2021) | $195,000 | 164,500 |
Epic anticipates selling 223,000 jars with total sales revenue of $265,000 in the first quarter of the year (2022) following the year given in the table above. Epic has a policy that the ending inventory of jars must be 30% of the following quarters sales. Prepare a production budget for the year that shows the number of jars to be produced each quarter and the year in total.
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