Question

Exercise 9-5 (Video) Your answer is partially correct. Try again. DeWitt Industries has adopted the following production budget for the first 4 months of 2020. Month Units Month Units January 10,230 March 5,450 February 8,200 April 4,290 Each unit requires 5 pounds of raw materials costing $4 per pound. On December 31, 2019, the ending raw materials inventory was 10,230 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 the first quarter. DEWITT INDUSTRIES Direct Materials Purchases Budget choose the accounting period March 31, 2020For the Month Ending March 31, 2020For the Quarter Ending March 31, 2020 January February March select an opening materials purchases budget item Total Cost of Direct Materials PurchasesUnits to be ProducedBeginning Direct Materials (Pounds)Direct Labor Cost Per HourTotal Direct Labor CostDesired Ending Direct Materials (Pounds)Direct Labor Time Per UnitTotal Materials RequiredDirect Materials PurchasesDirect Materials Per UnitTotal Pounds Needed for ProductionTotal Required Direct Labor HoursCost Per Pound enter a number of units enter a number of units enter a number of units select an item Beginning Direct Materials (Pounds)Units to be ProducedDirect Materials Per UnitCost Per PoundTotal Cost of Direct Materials PurchasesDirect Labor Time Per UnitDirect Materials PurchasesTotal Direct Labor CostTotal Materials RequiredTotal Pounds Needed for ProductionDesired Ending Direct Materials (Pounds)Total Required Direct Labor HoursDirect Labor Cost Per Hour enter the amount of pounds enter the amount of pounds enter the amount of pounds select a summarizing line for the first part Cost Per PoundTotal Materials RequiredDirect Materials PurchasesTotal Pounds Needed for ProductionBeginning Direct Materials (Pounds)Direct Materials Per UnitUnits to be ProducedTotal Direct Labor CostTotal Cost of Direct Materials PurchasesTotal Required Direct Labor HoursDesired Ending Direct Materials (Pounds)Direct Labor Cost Per HourDirect Labor Time Per Unit enter a total amount of pounds for the first part enter a total amount of pounds for the first part enter a total amount of pounds for the first part select between addition and deduction AddLess: select an item Direct Labor Time Per UnitUnits to be ProducedDesired Ending Direct Materials (Pounds)Total Required Direct Labor HoursBeginning Direct Materials (Pounds)Total Cost of Direct Materials PurchasesDirect Materials Per UnitDirect Labor Cost Per HourCost Per PoundDirect Materials PurchasesTotal Direct Labor CostTotal Materials RequiredTotal Pounds Needed for Production enter the amount of pounds enter the amount of pounds enter the amount of pounds select a summarizing line for the second part Total Pounds Needed for ProductionDesired Ending Direct Materials (Pounds)Direct Labor Time Per UnitTotal Direct Labor CostDirect Labor Cost Per HourBeginning Direct Materials (Pounds)Total Materials RequiredCost Per PoundDirect Materials PurchasesDirect Materials Per UnitTotal Cost of Direct Materials PurchasesTotal Required Direct Labor HoursUnits to be Produced enter a total amount of pounds for the second part enter a total amount of pounds for the second part enter a total amount of pounds for the second part select between addition and deduction AddLess: select an item Direct Materials Per UnitDirect Materials PurchasesTotal Direct Labor CostDesired Ending Direct Materials (Pounds)Cost Per PoundTotal Pounds Needed for ProductionTotal Required Direct Labor HoursTotal Cost of Direct Materials PurchasesDirect Labor Time Per UnitDirect Labor Cost Per HourTotal Materials RequiredBeginning Direct Materials (Pounds)Units to be Produced enter the amount of pounds enter the amount of pounds enter the amount of pounds select a summarizing line for the third part Beginning Direct Materials (Pounds)Direct Materials PurchasesDirect Labor Time Per UnitCost Per PoundTotal Pounds Needed for ProductionDirect Materials Per UnitTotal Cost of Direct Materials PurchasesDesired Ending Direct Materials (Pounds)Units to be ProducedTotal Direct Labor CostTotal Required Direct Labor HoursTotal Materials RequiredDirect Labor Cost Per Hour enter a total amount of pounds for the third part enter a total amount of pounds for the third part enter a total amount of pounds for the third part select an item Total Materials RequiredDirect Labor Cost Per HourTotal Pounds Needed for ProductionDirect Materials Per UnitTotal Required Direct Labor HoursDirect Materials PurchasesUnits to be ProducedBeginning Direct Materials (Pounds)Total Direct Labor CostCost Per PoundDesired Ending Direct Materials (Pounds)Direct Labor Time Per UnitTotal Cost of Direct Materials Purchases $enter a dollar amount $enter a dollar amount $enter a dollar amount select a closing materials purchases budget item         Desired Ending Direct Materials (Pounds)    Total Required Direct Labor Hours    Direct Materials Purchases    Total Direct Labor Cost    Beginning Direct Materials (Pounds)    Direct Labor Time Per Unit    Units to be Produced    Cost Per Pound    Direct Labor Cost Per Hour    Direct Materials Per Unit    Total Cost of Direct Materials Purchases    Total Materials Required    Total Pounds Needed for Production $enter a total dollar amount $enter a total dollar amount $enter a total dollar amount

Answer 1

DEWITT Industries Direct Material Budget For the Quarter Ending March 31,2020 January February March Units to be Purchases 10230 8200 5450 Units Direct Materila Per Unit 5 5 5 lbs Total Pound Needed 51150 41000 27250 lbs ADD:desired ending inventory (20% on Next Month) 8200 5450 4290 lbs Total Material Required 59350 46450 31540 lbs Less: Beginning Direct Material 10230 8200 5450lbs Direct Material Purchases 49120 38250 26090 lbs Cost per Pound 4 Per lbs Total budgeted direct Material Cost 196480 153000 104360