Production budget The firm's inventory policy is to have ending inventory equal to 10% of next month's sales. Fill in the missing numbers. February March April Ending inventory 5,000 Beginning inventory Budgeted sales 8,000 16,000 14,000 Budgeted production (If you get stuck on the beginning inventory for February: it is equal to the ending inventory for January, which you can compute with the available data on February sales)
Required:
(a) Fill in the missing numbers in the table above.
(Hint if you get stuck: What is the relation between ending inventory for one month and beginning inventory for the following month?)
(b) Why do firms want to hold inventory of finished goods? (an alternative could be to produce exactly the amount they are going to sell, and hold zero inventories)

Suppose an economy consists of three sectors: energy (e), manufacturing (m), and agriculture (a). sector e sells 70% of its output to m and 30% to a. sector m sells 30% of its output to e, 50% to a, and retains the rest. sector a sells 15% of its output to e, 30% to m, and retains the rest.

Ida sidha karya company is a family-owned company located on the island of bali in indonesia. the company produces a handcrafted balinese musical instrument called a gamelan that is similar to a xylophone. the gamelans are sold for $860. selected data for the company’s operations last year follow: units in beginning inventory 0 units produced 320 units sold 285 units in ending inventory 35 variable costs per unit: direct materials $ 135 direct labor $ 355 variable manufacturing overhead $ 30 variable selling and administrative $ 15 fixed costs: fixed manufacturing overhead $ 64,000 fixed selling and administrative $ 27,000 the absorption costing income statement prepared by the company’s accountant for last year appears below: sales $ 245,100 cost of goods sold 205,200 gross margin 39,900 selling and administrative expense 31,275 net operating income $ 8,625 required: 1. under absorption costing, how much fixed manufacturing overhead cost is included in the company's inventory at the end of last year? 2. prepare an income statement for last year using variable costing. what is the amount of the difference in net operating income between the two costing methods?

%of the world's population controls approximately % of the world's finances (the sum of gross domestic products)" quizlket