Question
Assume the following facts regarding direct materials Material Beginning Inventory 4,000 lbs $2 per lb Budgeted Materials Ending Inventory 7,000 lbs Material Production (Usage) Needs
Assume the following facts regarding direct materials
Material Beginning Inventory 4,000 lbs $2 per lb
Budgeted Materials Ending Inventory 7,000 lbs
Material Production (Usage) Needs 20,000 lbs
Budgeted Material Purchase Price $3 per lb
The firm uses FIFO
What is the materials purchase budget in dollars?
| $69,000 | ||
| $46,000 | ||
| $60,000 | ||
| $51,000 |
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Audit Of EPAs Fiscal 2013 And 2012 Consolidated Financial Statements
Authors: U.S. Environmental Protection Agency
1st Edition
1500696218, 978-1500696214
