1. Jasmine Company produces hand tools. A sales budget for the next four months is as follows: March 10,400 units, April 13,700, May 16,400 and June 21,500. Jasmine Company’s ending finished goods inventory policy is 20% of the following month’s sales. What is budgeted finished goods inventory for May?
2. Toimi has forecast sales for the next three months as follows: July 4,800 units, August 6,300 units, September 8,300 units. Toimi’s policy is to have an ending inventory of 45% of the next month’s sales needs on hand. July 1 inventory is projected to be 2,100 units. Selling and administrative costs are budgeted to be $24,000 per month plus $6 per unit sold. What are budgeted selling and administrative expenses for July?
3. Brimson has forecast production for the next three months as follows: July 5,500 units, August 6,900 units, September 7,900 units. Monthly manufacturing overhead is budgeted to be $17,700 plus $13 per unit produced. What is budgeted manufacturing overhead for July?
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