(Answered) Question - keep-it-hot inc manufactures popular thermoses

Accounting

Question - Keep-it-Hot Inc. manufactures popular thermoses. On June 30, the company had 1,000 thermoses in inventory. Each thermos sells for $8.00. The company's policy is to maintain a thermos inventory equal to 10% of next month's sales. The company expects the following sales activity for the third quarter of the year:

July 7,000 units

August 15,000 units

September 10,000 units

In addition, October's sales are expected to be 9,000 units.

Required:

A. Prepare a sales budget for the third quarter of the year.

B. Prepare a production budget for the third quarter of the year.

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