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Osage Incorporated has actual sales for May and June and forecast sales for July, August, September, and October as follows: Actual: May June Forecast: July August September October 6,000 units 6,100 units 5,100 units 7,000 units 5,700 units 5,200 units Required: a. The firm's policy is to have finished goods inventory on hand at the end of the month that is equal to 50% of the next month's sales. It is currently estimated that there will be 2,550 units on hand at the end of June. Calculate the number of units to be produced in each of the months of July, August, and September. b. Each unit of finished product requires 5.5 pounds of raw materials. The firm's policy is to have raw material inventory on hand at the end of each month that is equal to 80% of the next month's estimated usage. It is currently estimated that 26,500 pounds of raw materials will be on hand at the end of June. Calculate the number of pounds of raw materials to be purchased in each of the months of July and August. Complete this question by entering your answers in the tabs below. Required A Required B Production The firm's policy is to have finished goods inventory on hand at the end of the month that is equal to 50% of the next month's sales. It is currently estimated that there will be 2,550 units on hand at the end of June. Calculate the number of units to be produced in each of the months of July, August, and September. Note: Do not round your intermediate calculations. Round your final answers to the nearest whole numbers. July August September Show less

Osage Incorporated has actual sales for May and June and forecast sales for July, August, September, and October as follows: Actual: May June Forecast: July August September October 6,000 units 6,100 units 5,100 units 7,000 units 5,700 units 5,200 units Required: a. The firm's policy is to have finished goods inventory on hand at the end of the month that is equal to 50% of the next month's sales. It is currently estimated that there will be 2,550 units on hand at the end of June. Calculate the number of units to be produced in each of the months of July, August, and September. b. Each unit of finished product requires 5.5 pounds of raw materials. The firm's policy is to have raw material inventory on hand at the end of each month that is equal to 80% of the next month's estimated usage. It is currently estimated that 26,500 pounds of raw materials will be on hand at the end of June. Calculate the number of pounds of raw materials to be purchased in each of the months of July and August. Complete this question by entering your answers in the tabs below. Required A Required B Production The firm's policy is to have finished goods inventory on hand at the end of the month that is equal to 50% of the next month's sales. It is currently estimated that there will be 2,550 units on hand at the end of June. Calculate the number of units to be produced in each of the months of July, August, and September. Note: Do not round your intermediate calculations. Round your final answers to the nearest whole numbers. July August September Show less

Excel Applications for Accounting Principles
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter22: Master Budget (master)
Section: Chapter Questions
Problem 1R: Ranger Industries has provided the following information at June 30: Other information: Average...
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Osage Incorporated has actual sales for May and June and forecast sales for July, August, September, and October as follows: Actual: May June Forecast: July August September October 6,000 units 6,100 units 5,100 units 7,000 units 5,700 units 5,200 units Required: a. The firm's policy is to have finished goods inventory on hand at the end of the month that is equal to 50% of the next month's sales. It is currently estimated that there will be 2,550 units on hand at the end of June. Calculate the number of units to be produced in each of the months of July, August, and September. b. Each unit of finished product requires 5.5 pounds of raw materials. The firm's policy is to have raw material inventory on hand at the end of each month that is equal to 80% of the next month's estimated usage. It is currently estimated that 26,500 pounds of raw materials will be on hand at the end of June. Calculate the number of pounds of raw materials to be purchased in each of the months of July and August. Complete this question by entering your answers in the tabs below. Required A Required B Production The firm's policy is to have finished goods inventory on hand at the end of the month that is equal to 50% of the next month's sales. It is currently estimated that there will be 2,550 units on hand at the end of June. Calculate the number of units to be produced in each of the months of July, August, and September. Note: Do not round your intermediate calculations. Round your final answers to the nearest whole numbers. July August September Show less
Transcribed Image Text:Osage Incorporated has actual sales for May and June and forecast sales for July, August, September, and October as follows: Actual: May June Forecast: July August September October 6,000 units 6,100 units 5,100 units 7,000 units 5,700 units 5,200 units Required: a. The firm's policy is to have finished goods inventory on hand at the end of the month that is equal to 50% of the next month's sales. It is currently estimated that there will be 2,550 units on hand at the end of June. Calculate the number of units to be produced in each of the months of July, August, and September. b. Each unit of finished product requires 5.5 pounds of raw materials. The firm's policy is to have raw material inventory on hand at the end of each month that is equal to 80% of the next month's estimated usage. It is currently estimated that 26,500 pounds of raw materials will be on hand at the end of June. Calculate the number of pounds of raw materials to be purchased in each of the months of July and August. Complete this question by entering your answers in the tabs below. Required A Required B Production The firm's policy is to have finished goods inventory on hand at the end of the month that is equal to 50% of the next month's sales. It is currently estimated that there will be 2,550 units on hand at the end of June. Calculate the number of units to be produced in each of the months of July, August, and September. Note: Do not round your intermediate calculations. Round your final answers to the nearest whole numbers. July August September Show less
Complete this question by entering your answers in the tabs below. Required A Required B Each unit of finished product requires 5.5 pounds of raw materials. The firm's policy is to have raw material inventory on hand at the end of each month that is equal to 80% of the next month's estimated usage. It is currently estimated that 26,500 pounds of raw materials will be on hand at the end of June. Calculate the number of pounds of raw materials to be purchased in each of the months of July and August. Note: Round your intermediate calculations and final answers to the nearest whole numbers. Purchases July August Show less
Transcribed Image Text:Complete this question by entering your answers in the tabs below. Required A Required B Each unit of finished product requires 5.5 pounds of raw materials. The firm's policy is to have raw material inventory on hand at the end of each month that is equal to 80% of the next month's estimated usage. It is currently estimated that 26,500 pounds of raw materials will be on hand at the end of June. Calculate the number of pounds of raw materials to be purchased in each of the months of July and August. Note: Round your intermediate calculations and final answers to the nearest whole numbers. Purchases July August Show less
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