Production Budget and Direct Materials Purchases Budget
Jani Subramanian, owner of Jani's Flowers and Gifts, produces gift baskets for various special occasions. Each gift basket includes fruit or assorted small gifts (e.g., a coffee mug, deck of cards, novelty cocoa mixes, scented soap) in a basket that is wrapped in colorful cellophane. Jani has estimated the following unit sales of the standard gift basket for the rest of the year and for January of next year.
September 250
October 200
November 230
December 380
January 100
Jani likes to have 10% of the next month's sales needs on hand at the end of each month. This requirement was met on August 31.
Two materials are needed for each fruit basket:
Fruit 1 pound
Small gifts 6 items
The materials inventory policy is to have 10% of the next month's fruit needs on hand and 30% of the next month's production needs of small gifts. (The relatively low inventory amount for fruit is designed to prevent spoilage.) Materials inventory on August 31 met this company policy.
Required:
1. Prepare a production budget for September, October, November, and December for gift baskets. (Note: Round all answers to the nearest whole unit.)
Jani's Flowers and Gifts
Production Budget for Gift Baskets
For September, October, November, and December
September October November December
Sales
Desired ending inventory
Needed
Less: Beginning inventory production
Total
2. Prepare a direct materials purchases budget for the two types of materials used in the production of gift baskets for the months of September, October, and November. (Note: Round answers to the nearest whole unit.)
Jani's Flowers and Gifts
Direct Materials Purchases Budget
For September, October, and November
Fruit: September October November
Production
Pounds of fruit
Required for production
Desired ending inventory
Total needs
Less: Beginning inventory
Pounds purchased
Small gifts:
Production
Items required
Needed for production
Desired inventory
Total needs
Less: Beginning inventory
Items purchased

Answer:

Jani's Flowers and Gifts

1. Jani's Flowers and Gifts

Production Budget for September, October, November, and December for Gift Baskets:

                                            Sept        Oct.       Nov.       Dec.

Estimated sales units          250       200        230       380

Estimated ending inventory 20          23          38          10

Units available for sale       270        223       268       390

Beginning inventory             25          20          23         38

Production required          245          213       245       352

2. Jani's Flowers and Gifts

Direct Materials Purchases Budget

For September, October, and November

                                            Sept        Oct.       Nov.

Fruit (1 pound):

Production requirement     245          213       245

Ending inventory:                  21            25         35

Total needs                        266          238      280

Beginning inventory:            25            21         25

Pounds purchased             241           217      255

Small Gifts (6 items each):

Production requirement   1,470        1,278     1,470

Ending inventory:                383          441        634

Total needs                       1,853        1,719     2,104

Beginning inventory:           441          383        441

Items Purchased               1,412        1,336     1,663

Explanation:

a) Data and Calculations:

                                            Sept        Oct.       Nov.       Dec.       Jan.

Estimated sales units          250       200        230       380        100

Estimated ending inventory 20          23          38          10

Units available for sale       270        223       268       390

Beginning inventory             25          20          23         38           10

Production required          245          213       245       352

Jani's Flowers and Gifts

Direct Materials Purchases Budget

For September, October, and November

                                            Sept        Oct.       Nov.       Dec.

Fruit 1 pound:

Production requirement     245          213       245         352

Ending inventory:                  21            25         35          106

Total needs                        266          238      280         458

Beginning inventory:            25            21         25           35

Pounds purchased             241           217      255         423

Small Gifts 6 items each:

Production requirement   1,470        1,278     1,470       2,112

Ending inventory:                383          441        634      1,899

Total needs                       1,853        1,719     2,104       4,011

Beginning inventory:           441          383        441         634

Items Purchased               1,412        1,336     1,663      3,377

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