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Party Time Inc. needs your help to create some of its budgets for the year....

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Accounting

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Party Time Inc. needs your help to create some of its budgets for the year. All of the firm's party favor boxes include 6 gold coins, regardless of the party box's "theme.Its sales budget for its all of its various party favor boxes combined is as follows: Party Time Inc Sales Budget For the Year Ended Dec. 31, 2018 weddings!(Christmas!) Yearly Total 50,900 5.505.50$ 5.50$5.50$ 5.50 $ 60,500 6765077.0004,800 279,950 01 11,000 Q2 03 04 Budgeted unit sales Budgeted sales price 12,300 14,000 13,600 Budgeted sales reveue 60.500 67650 77,000 Party Time Inc. maintains ending finished goods inventory equal to 8% of the budgeted sales for the next quarter. At the end of the year, Party Time Inc. would like to have 750 finished boxes in its warehouse. In addition, Party Time Inc. maintains enough gold coins on hand to start each quarter with 5% of the current quarter's production needs. The firm wants to end Q4 of the coming year with 3,200 coins on hand. 6) Compiete the Production Budget for Party Time Inc. Show your work! Q1 Q2 Q3 Q4 Year Total Sales Units 11000 12300 14000 50900 + Ending inv(8% of current gt 084 1120 1088 750 Beg. inv 880 984 1120 1088 880 Budgeted Production in 11104 13262 50770

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