On January 1, 2017, the Hardin Company budget committee has reached agreement on
ID: 2453643 • Letter: O
Question
On January 1, 2017, the Hardin Company budget committee has reached agreement on the following data for the 6 months ending June 30, 2017. The ending raw materials and finished goods inventories at December 31, 2016, follow the same percentage relationships to production and sales that occur in 2017. 5 pounds of raw materials are required to make each unit of finished goods. Raw materials purchased are expected to cost $4 per pound. Prepare a production budget by quarters for the 6-month period ended June 30, 2017.Explanation / Answer
On January 1, 2017, the Hardin Company budget committee has reached agreement on