Smee Inc. produces all-natural organic peanut butter. The peanut butter is sold in 12-ounce jars. The sales budget for the first four months of the year is as follows:Company policy requires that ending inventories for each month be 15 percent of next months sales. At the beginning of January, the inventory of peanut butter is 36,000 jars.Each jar of peanut butter needs two raw materials: 24 ounces of peanuts and one jar. Company policy requires that ending inventories of raw materials for each month be 20 percent of the next months production needs. That policy was met on January 1.Hide1. Prepare a production budget for the first quarter of the year. Show the number of jars that should be produced each month as well as for the quarter in total.Smee Inc. Production Budget For the First Quarter of the Year JanuaryFebruaryMarchTotalSales Correct 9 of Item 1Correct 10 of Item 1Correct 11 of Item 1Correct 12 of Item 1Desired ending inventory Correct 14 of Item 1Correct 15 of Item 1Correct 16 of Item 1Correct 17 of Item 1Total needs Correct 19 of Item 1Correct 20 of Item 1Correct 21 of Item 1Correct 22 of Item 1Less: Beginning inventory Correct 24 of Item 1Correct 25 of Item 1Correct 26 of Item 1Correct 27 of Item 1Units produced Correct 29 of Item 1Correct 30 of Item 1Correct 31 of Item 1Correct 32 of Item 1Hide FeedbackShow All FeedbackCheck My Work FeedbackPost Submission FeedbackSolutionHide2a. Prepare a direct materials purchases budget for jars for the months of January and February. Do not include a multiplication symbol as part of your answer.Smee, Inc. Direct Materials Purchases Budget for Jars For January and February JanuaryFebruaryTotalProduction Correct 8 of Item 2Correct 9 of Item 2Correct 10 of Item 2Jar Correct 12 of Item 2Correct 13 of Item 2Correct 14 of Item 2Jars for production Correct 16 of Item 2Correct 17 of Item 2Correct 18 of Item 2Desired ending inventory Correct 20 of Item 2Correct 21 of Item 2Correct 22 of Item 2Total needs Correct 24 of Item 2Correct 25 of Item 2Correct 26 of Item 2Less: Beginning inventory Correct 28 of Item 2Correct 29 of Item 2Correct 30 of Item 2Jars purchased Correct 32 of Item 2Correct 33 of Item 2Correct 34 of Item 2Hide FeedbackShow All FeedbackCheck My Work FeedbackPost Submission FeedbackSolutionHide2b. Prepare a direct materials purchases budget for peanuts for the months of January and February. Do not include a multiplication symbol as part of your answer.Smee, Inc. Direct Materials Purchases Budget for Peanuts For January and February JanuaryFebruaryTotalProduction Correct 8 of Item 3Correct 9 of Item 3Correct 10 of Item 3Ounces Correct 12 of Item 3Correct 13 of Item 3Correct 14 of Item 3Ounces for production Correct 16 of Item 3Correct 17 of Item 3Correct 18 of Item 3Desired ending inventory Correct 20 of Item 3Correct 21 of Item 3Correct 22 of Item 3Total needs Correct 24 of Item 3Correct 25 of Item 3Correct 26 of Item 3Less: Beginning inventory Correct 28 of Item 3Correct 29 of Item 3Correct 30 of Item 3Ounces purchased Correct 32 of Item 3Correct 33 of Item 3Correct 34 of Item 3Hide FeedbackShow All FeedbackCheck My Work FeedbackPost Submission FeedbackSolutionHide FeedbackShow All FeedbackCheck My Work FeedbackPost Submission FeedbackSolutionGraded
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