2 F $ O D E Comprehensive Assignment#2 Direct Materials Budget Ford Seasoning's management has compiled a list of standards from the various managers at the company and handed this information off to the company's accounting staff to prepare the direct materials budget. In addition to the per-jar standards, these managers have made an estimate about the quantity of direct materials needed at the end of the month. This information, 3 as well as Ford Seasoning's current direct materials balance, is listed in the information below: 4 Pounds of Direct Materials per Each Unit (Jar) 0.50 5 Cost per Pound of Direct Materials 6.00 6 Direct Materials in Beginning Inventory, 1-1-XX 1,500 7 Desired Direct Materials Ending Inventory, 1-31-XX 10% of February's Budgeted Direct Material: Needed for Production 8 Direct Materials needed for production during February 20XX 15,000 Pounds of Direct Materials 9 Requirement Use the information from the table above, as well as your prior budgets, to prepare Ford Seasoning's direct materials budget for 10 the month of January 20XX Ford Seasoning Direct Materials Budget 13 For the Month Ended January 31, 20XX 14 January 15 Budgeted Jars to be Produced 15,000 16 Times: Pounds of Direct Materials per Unit Jar) 0.50 17 Direct Materials Needed for Production 7,500 18 Add: Desired Direct Materials in Ending Inventory 19 Total Direct Materials Secded 20 Less: Direct Materials in Beginning Lentory 21 Budgeted Purchases of Direct Materials 22 Times: Direct Materials Cost per Pound 23 Budgeted Cost of Direct Materials Purchases 24 Production Budget Direct Mats Budget Dine ab