Alliance Company's budgets production of 28,000 units in January and 32,000 units in February. Each finished...
Alliance Company's budgets production of 28,000 units in January and 32,000 units in February. Each finished unit requires 3 pounds of raw material K that costs $2.00 per pound. Each month's ending raw materials inventory should equal 40% of the following month's budgeted materials. The January 1 inventory for this material is 33,600 pounds. What are the budgeted materials need in pounds for January?
Homework Answers
| Budgeted material needed in pounds for January is 88,800 pounds | ||||
| Workings: | ||||
| Budgeted pounds required for January | = | Production + Closing Stock - Opening Stock | ||
| = | (28000 units X 3 pounds) + [(32000 units X 3 pounds) X 40%] - 33600 pounds | |||
| = | 84000 pounds + 38400 pounds - 33600 pounds | |||
| = | 88,800 | pounds | ||
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