Homework Answers
Solution
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Material budget For January and February |
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| January | February | |||
| Budgeted production (units) | 11125 | 8875 | ||
| Materials requirements per unit | 3 | 3 | ||
| Materials needed for production (lbs.) | 33375 | 26625 | ||
| Budgeted ending inventory (lbs.) | 7988 | 9225 | ||
| Total materials requirements (lbs.) | 41363 | 35850 | ||
| Beginning inventory (lbs.) | 10013 | 7988 | ||
| Materials to be purchased (lbs.) | 31350 | 27863 | ||
| Cost per lb. | $ 5.00 | $ 5.00 | ||
| Total budgeted direct materials cost | $ 156,750 | $ 139,313 | ||
| Garver Industries | ||||
| Production budget | ||||
| January | February | March | ||
| Units to be sold | 12000 | 8500 | 10000 | |
| Desired Ending Finished Inventory | 2125 | 2500 | 2750 | |
| Total Units needed | 14125 | 11000 | 12750 | |
| Less : Beginning Finished Inventory | 3000 | 2125 | 2500 | |
| Units to be Produced | 11125 | 8875 | 10250 | |
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