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Zira Co. reports the following production budget for the next four months. April May June July...

Zira Co. reports the following production budget for the next four months.

April May June July
Production (units) 704 745 737 717


Each finished unit requires six pounds of raw materials and the company wants to end each month with raw materials inventory equal to 40% of next month’s production needs. Beginning raw materials inventory for April was 1,690 pounds. Assume direct materials cost $5 per pound.

Prepare a direct materials budget for April, May, and June. (Round your intermediate calculations and final answers to the nearest whole dollar amount.)

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Answer #1

Direct material budget

April May June
Production Unit 704 745 737
Raw material per unit 6 6 6
Raw material needed for production 4224 4470 4422
Add: Desired ending inventory 1788 1769 1721
Total 6012 6239 6143
Less: Beginning inventory -1690 -1788 -1769
Direct material purchase 4322 4451 4374
Cost per pound 5 5 5
Direct material purchase cost 21610 22255 21870
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