Kidman Publishers Inc. budgeted production of 41,000 diaries in 2016. Paper is required to produce a...
Kidman Publishers Inc. budgeted production of 41,000 diaries in 2016. Paper is required to produce a diary. Assume 110 square yards of paper are required for each diary. The estimated January 1, 2016, paper inventory is 271,000 square yards. The desired December 31, 2016, paper inventory is 158,000 square yards.
If paper costs $0.14 per square yard, determine the direct materials purchases budget for 2016. If required, round your final answer to the nearest dollar.
Homework Answers
| Particulars | Budget |
| Budgeted production | 41000 |
| Material required for 1 unit | 110 |
| Total material required for production | 4510000 |
| Add: ending inventory required | 158000 |
| Less: beginning inventory | 271000 |
| Total purchase requirement(square yards) | 4397000 |
| Paper cost per square yards | $0.14 |
| Material purchase budget | $615,580 |
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