Question
Blossom Company has 2,480 pounds of raw materials in its December 31, 2021, ending inventory. Required production for January and February of 2022 are 4,960
Blossom Company has 2,480 pounds of raw materials in its December 31, 2021, ending inventory. Required production for January and February of 2022 are 4,960 and 6,200 units, respectively. 2 pounds of raw materials are needed for each unit, and the estimated cost per pound is $6. Management desires an ending inventory equal to 25% of next months materials requirements. Prepare the direct materials budget for January.
BLOSSOM COMPANY Direct Materials Budget choose the accounting period For the Quarter Ending January 31, 2022January 31, 2022For the Month Ending January 31, 2022 | ||
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select an opening direct materials budget item Cost Per PoundTotal Cost of Direct Materials PurchasesDirect Labor Cost Per HourTotal Required Direct Labor HoursUnits to be ProducedDirect Materials Per UnitDirect Labor Time Per UnitBeginning Materials InventoryDesired Ending InventoryTotal Pounds Required for ProductionTotal Direct Labor CostDirect Materials PurchasesTotal Materials Required | enter a number of units | |
select an item Total Required Direct Labor HoursDesired Ending InventoryTotal Cost of Direct Materials PurchasesDirect Materials Per UnitBeginning Materials InventoryTotal Materials RequiredTotal Direct Labor CostDirect Labor Cost Per HourUnits to be ProducedTotal Pounds Required for ProductionDirect Materials PurchasesCost Per PoundDirect Labor Time Per Unit | enter the amount of pounds | |
select a summarizing line for the first part Direct Materials Per UnitTotal Cost of Direct Materials PurchasesTotal Pounds Required for ProductionCost Per PoundUnits to be ProducedDesired Ending InventoryDirect Labor Time Per UnitDirect Labor Cost Per HourBeginning Materials InventoryTotal Direct Labor CostDirect Materials PurchasesTotal Required Direct Labor HoursTotal Materials Required | enter a total amount of pounds for the first part | |
select between addition and deduction AddLess: select an item Cost Per PoundDirect Labor Time Per UnitDirect Materials PurchasesTotal Cost of Direct Materials PurchasesTotal Required Direct Labor HoursDesired Ending InventoryUnits to be ProducedDirect Materials Per UnitTotal Direct Labor CostDirect Labor Cost Per HourTotal Pounds Required for ProductionBeginning Materials InventoryTotal Materials Required | enter the amount of pounds | |
select a summarizing line for the second part Total Pounds Required for ProductionTotal Direct Labor CostDirect Labor Cost Per HourBeginning Materials InventoryUnits to be ProducedTotal Cost of Direct Materials PurchasesDirect Materials PurchasesDirect Labor Time Per UnitDesired Ending InventoryTotal Required Direct Labor HoursTotal Materials RequiredCost Per PoundDirect Materials Per Unit | enter a total amount of pounds for the second part | |
select between addition and deduction AddLess: select an item Cost Per PoundDirect Labor Cost Per HourDirect Labor Time Per UnitTotal Cost of Direct Materials PurchasesTotal Pounds Required for ProductionUnits to be ProducedTotal Direct Labor CostBeginning Materials InventoryTotal Materials RequiredDesired Ending InventoryDirect Materials Per UnitDirect Materials PurchasesTotal Required Direct Labor Hours | enter the amount of pounds | |
select a summarizing line for the third part Cost Per PoundDirect Labor Cost Per HourDesired Ending InventoryTotal Required Direct Labor HoursUnits to be ProducedBeginning Materials InventoryTotal Cost of Direct Materials PurchasesTotal Direct Labor CostDirect Labor Time Per UnitDirect Materials Per UnitTotal Pounds Required for ProductionTotal Materials RequiredDirect Materials Purchases | enter a total amount of pounds for the third part | |
select an item Direct Labor Time Per UnitDirect Materials Per UnitCost Per PoundTotal Materials RequiredTotal Cost of Direct Materials PurchasesBeginning Materials InventoryUnits to be ProducedTotal Pounds Required for ProductionDirect Labor Cost Per HourTotal Required Direct Labor HoursTotal Direct Labor CostDesired Ending InventoryDirect Materials Purchases | $enter a dollar amount | |
select a closing direct materials budget item Cost Per PoundTotal Cost of Direct Materials PurchasesDirect Labor Time Per UnitTotal Required Direct Labor HoursTotal Pounds Required for ProductionUnits to be ProducedDirect Materials PurchasesDirect Labor Cost Per HourTotal Direct Labor CostDesired Ending InventoryBeginning Materials InventoryDirect Materials Per UnitTotal Materials Required | $enter a total dollar amount |
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