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The Volt Battery Company has forecast its sales in units as follows: January 2,300 May 2,850 February 2,150 June 3,000 March 2,100 July 2,700 April 2,600 Volt Battery always keeps an ending inventory equal to 130% of the next month’s expected sales
The Volt Battery Company has forecast its sales in units as follows: January 2,300 May 2,850 February 2,150 June 3,000 March 2,100 July 2,700 April 2,600 Volt Battery always keeps an ending inventory equal to 130% of the next month’s expected sales. The ending inventory for December (January’s beginning inventory) is 2,990 units, which is consistent with this policy.
Materials cost $12 per unit and are paid for in the month after purchase. Labor cost is $5 per unit and is paid in the month the cost is incurred. Overhead costs are $13,500 per month. Interest of $9,500 is scheduled to be paid in March, and employee bonuses of $14,700 will be paid in June.
a. Prepare a monthly production schedule for January through June.
b. Prepare a monthly summary of cash payments for January through June. Volt produced 2,100 units in December.
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