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- Direct Material Purchase Budget
For the Quarter ended 31 Mar
|
January |
February |
March |
|
|
Budgeted production (units) |
10,270 |
8,270 |
5,390 |
|
Raw material required per unit |
3 |
3 |
3 |
|
Materials needed for production (lbs.) |
30,810 |
24,810 |
16,170 |
|
Add: Desired ending inventory of material |
4,962 |
3,234 |
2,574 |
|
Total materials requirements (lbs.) |
35,772 |
28,044 |
18,744 |
|
Less: Beginning material inventory |
6,162 |
4,962 |
3,234 |
|
Materials to be purchased (lbs.) |
29,610 |
23,082 |
15,510 |
|
Cost per unit of material |
$3.00 |
$3.00 |
$3.00 |
|
Total budgeted direct materials cost |
$88,830 |
$69,246 |
$46,530 |
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DeWitt Industries has adopted the following production budget for the first 4 months of 2020. Month Units Month Units March 10,270 5,390 January 8,270 April February 4,290 Each unit requires 3 pounds of raw materials costing $3 per pound. On December 31, 2019, the ending raw materials inventory was 6,162 pounds. Management wants to have a raw materials inventory at the end of the month equal to 20% of next month's production requirements. Prepare a direct materials purchases budget by...
DeWitt Industries has adopted the following production budget for the first 4 months of 2020. Month Units Month Units 5,470 January 10,350 March February 8,230 April 4,210 Each unit requires 4 pounds of raw materials costing $2 per pound. On December 31, 2019, the ending raw materials inventory was 8,280 pounds. Management wants to have a raw materials inventory at the end of the month equal to 20% of next month's production requirements. Prepare a direct materials purchases budget by...
Concord Industries has adopted the following production budget for the first 4 months of 2017. Month Units Month Units January 10,120 March 5,480 February 8,460 April 4,370 Each unit requires 5 pounds of raw materials costing $3 per pound. On December 31, 2016, the ending raw materials inventory was 9,240 pounds. Management wants to have a raw materials inventory at the end of the month equal to 20% of next month's production requirements. Prepare a direct materials purchases budget by...
Pronghorn Industries has adopted the following production budget for the first 4 months of 2017. Month Units Month Units anuary 10,170 March 5,190 February 8,470 Ap4,310 Each unit requires 5 pounds of raw materials costing $3 per pound. On December 31,2016, the ending raw materials inventory was 9,100 pounds. Management wants to have a raw materials inventory at the end of the month equal to 20% of next month's production requirements. Prepare a direct materials purchases budget by month for...
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