Question
Bonita Industries has adopted the following production budget for the first 4 months of 2022. Month Units Month Units January 9,000 March 4,500 February 7,200
Bonita Industries has adopted the following production budget for the first 4 months of 2022.
Month | Units | Month | Units | |||
---|---|---|---|---|---|---|
January | 9,000 | March | 4,500 | |||
February | 7,200 | April | 3,600 |
Each unit requires 2 pounds of raw materials costing $ 3 per pound. On December 31, 2021, the ending raw materials inventory was 3,600 pounds. Management wants to have a raw materials inventory at the end of the month equal to 20% of next months production requirements. Prepare a direct materials purchases budget by month for the first quarter.
BONITA INDUSTRIES Direct Materials Purchases Budget choose the accounting period March 31, 2022For the Quarter Ending March 31, 2022For the Month Ending March 31, 2022 | |||||||
---|---|---|---|---|---|---|---|
January | February | March | |||||
select an opening name for this budget Direct Labor Time Per UnitUnits to be ProducedCost Per PoundDesired Ending Direct Materials (Pounds)Direct Labor Cost Per HourDirect Materials Per UnitTotal Cost of Direct Materials PurchasesTotal Pounds Needed for ProductionDirect Materials PurchasesBeginning Direct Materials (Pounds)Total Required Direct Labor HoursTotal Materials RequiredTotal Direct Labor Cost | enter a number of units | enter a number of units | enter a number of units | ||||
select an item Units to be ProducedTotal Required Direct Labor HoursDirect Materials Per UnitTotal Cost of Direct Materials PurchasesDirect Materials PurchasesDirect Labor Cost Per HourDirect Labor Time Per UnitBeginning Direct Materials (Pounds)Cost Per PoundTotal Materials RequiredTotal Pounds Needed for ProductionDesired Ending Direct Materials (Pounds)Total Direct Labor Cost | enter a number of pounds | enter a number of pounds | enter a number of pounds | ||||
select a summarizing line for the first part Cost Per PoundDirect Labor Cost Per HourTotal Materials RequiredDirect Materials PurchasesTotal Required Direct Labor HoursDesired Ending Direct Materials (Pounds)Units to be ProducedDirect Materials Per UnitBeginning Direct Materials (Pounds)Total Cost of Direct Materials PurchasesTotal Pounds Needed for ProductionDirect Labor Time Per UnitTotal Direct Labor Cost | enter a total number of pounds for the first part | enter a total number of pounds for the first part | enter a total number of pounds for the first part | ||||
select between addition and deduction AddLess: select an item Cost Per PoundTotal Pounds Needed for ProductionTotal Cost of Direct Materials PurchasesUnits to be ProducedDesired Ending Direct Materials (Pounds)Total Materials RequiredBeginning Direct Materials (Pounds)Direct Materials Per UnitTotal Required Direct Labor HoursTotal Direct Labor CostDirect Materials PurchasesDirect Labor Time Per UnitDirect Labor Cost Per Hour | enter a number of pounds | enter a number of pounds | enter a number of pounds | ||||
select a summarizing line for the second part Beginning Direct Materials (Pounds)Total Required Direct Labor HoursTotal Cost of Direct Materials PurchasesDirect Labor Cost Per HourDirect Labor Time Per UnitTotal Pounds Needed for ProductionDirect Materials PurchasesCost Per PoundTotal Direct Labor CostTotal Materials RequiredDesired Ending Direct Materials (Pounds)Direct Materials Per UnitUnits to be Produced | enter a total number of pounds for the second part | enter a total number of pounds for the second part | enter a total number of pounds for the second part | ||||
select between addition and deduction AddLess: select an item Beginning Direct Materials (Pounds)Direct Materials Per UnitDesired Ending Direct Materials (Pounds)Total Required Direct Labor HoursCost Per PoundTotal Pounds Needed for ProductionTotal Direct Labor CostTotal Materials RequiredUnits to be ProducedDirect Labor Cost Per HourDirect Materials PurchasesDirect Labor Time Per UnitTotal Cost of Direct Materials Purchases | enter a number of pounds | enter a number of pounds | enter a number of pounds | ||||
select a summarizing line for the third part Direct Materials PurchasesUnits to be ProducedTotal Pounds Needed for ProductionBeginning Direct Materials (Pounds)Total Cost of Direct Materials PurchasesTotal Materials RequiredCost Per PoundTotal Direct Labor CostDirect Labor Time Per UnitDirect Materials Per UnitDirect Labor Cost Per HourDesired Ending Direct Materials (Pounds)Total Required Direct Labor Hours | enter a total number of pounds for the third part | enter a total number of pounds for the third part | enter a total number of pounds for the third part | ||||
select an item Total Materials RequiredDirect Materials Per UnitTotal Direct Labor CostBeginning Direct Materials (Pounds)Total Cost of Direct Materials PurchasesTotal Pounds Needed for ProductionDirect Materials PurchasesDirect Labor Cost Per HourCost Per PoundDirect Labor Time Per UnitDesired Ending Direct Materials (Pounds)Total Required Direct Labor HoursUnits to be Produced | $ enter a dollar amount | $ enter a dollar amount | $ enter a dollar amount | ||||
select a closing name for this budget Desired Ending Direct Materials (Pounds)Total Direct Labor CostDirect Labor Time Per UnitTotal Required Direct Labor HoursDirect Materials Per UnitDirect Materials PurchasesDirect Labor Cost Per HourTotal Cost of Direct Materials PurchasesBeginning Direct Materials (Pounds)Total Pounds Needed for ProductionTotal Materials RequiredUnits to be ProducedCost Per Pound | $ enter a total dollar amount | $ enter a total dollar amount | $ enter a total dollar amount |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started