Question
BonitaCompany has1,440pounds of raw materials in its December 31, 2021, ending inventory. Required production for January and February of 2022 are3,600and4,500units, respectively. Two pounds of
BonitaCompany has1,440pounds of raw materials in its December 31, 2021, ending inventory. Required production for January and February of 2022 are3,600and4,500units, respectively. Two pounds of raw materials are needed for each unit, and the estimated cost per pound is $5. Management desires an ending inventory equal to20% of next month's materials requirements.
Prepare the direct materials budget for January.
BONITACOMPANY
Direct Materials Budget
choose the accounting period
January 31, 2022
For the Month Ending January 31, 2022
For the Quarter Ending January 31, 2022
select an opening direct materials budget item
Total Cost of Direct Materials Purchases
Total Required Direct Labor Hours
Cost Per Pound
Direct Materials Units to be Purchased
Desired Ending Inventory Pounds
Direct Materials Pounds Per Unit
Beginning Materials Inventory
Total Materials Required
Direct Labor Time Per Unit
Units to be Produced
Total Pounds Required for Production
Direct Labor Cost Per Hour
Total Direct Labor Cost
enter a number of units
select an item
Direct Materials Pounds Per Unit
Total Direct Labor Cost
Total Pounds Required for Production
Direct Labor Time Per Unit
Direct Materials Units to be Purchased
Total Cost of Direct Materials Purchases
Desired Ending Inventory Pounds
Cost Per Pound
Total Required Direct Labor Hours
Units to be Produced
Direct Labor Cost Per Hour
Beginning Materials Inventory
Total Materials Required
enter an amount of pounds
select a summarizing line for the first part
Direct Materials Units to be Purchased
Direct Labor Cost Per Hour
Desired Ending Inventory Pounds
Total Direct Labor Cost
Total Materials Required
Total Cost of Direct Materials Purchases
Direct Materials Pounds Per Unit
Direct Labor Time Per Unit
Total Pounds Required for Production
Total Required Direct Labor Hours
Beginning Materials Inventory
Units to be Produced
Cost Per Pound
enter a total amount of pounds for the first part
select between addition and deduction
Add
Less
:
select an item
Beginning Materials Inventory
Total Direct Labor Cost
Cost Per Pound
Total Required Direct Labor Hours
Total Cost of Direct Materials Purchases
Units to be Produced
Total Pounds Required for Production
Desired Ending Inventory Pounds
Direct Materials Units to be Purchased
Direct Labor Cost Per Hour
Total Materials Required
Direct Labor Time Per Unit
Direct Materials Pounds Per Unit
enter an amount of pounds
select a summarizing line for the second part
Total Required Direct Labor Hours
Total Pounds Required for Production
Desired Ending Inventory Pounds
Total Direct Labor Cost
Beginning Materials Inventory
Units to be Produced
Total Materials Required
Cost Per Pound
Direct Materials Pounds Per Unit
Total Cost of Direct Materials Purchases
Direct Labor Cost Per Hour
Direct Labor Time Per Unit
Direct Materials Units to be Purchased
enter a total amount of pounds for the second part
select between addition and deduction
Add
Less
:
select an item
Direct Labor Cost Per Hour
Total Cost of Direct Materials Purchases
Direct Labor Time Per Unit
Cost Per Pound
Direct Materials Pounds Per Unit
Direct Materials Units to be Purchased
Total Materials Required
Total Pounds Required for Production
Beginning Materials Inventory
Total Required Direct Labor Hours
Desired Ending Inventory Pounds
Total Direct Labor Cost
Units to be Produced
enter an amount of pounds
select a summarizing line for the third part
Direct Labor Cost Per Hour
Total Cost of Direct Materials Purchases
Total Direct Labor Cost
Direct Labor Time Per Unit
Cost Per Pound
Units to be Produced
Total Required Direct Labor Hours
Direct Materials Units to be Purchased
Desired Ending Inventory Pounds
Total Pounds Required for Production
Total Materials Required
Beginning Materials Inventory
Direct Materials Pounds Per Unit
enter a total amount of pounds for the third part
select an item
Direct Labor Cost Per Hour
Total Required Direct Labor Hours
Beginning Materials Inventory
Direct Materials Units to be Purchased
Units to be Produced
Desired Ending Inventory Pounds
Total Materials Required
Direct Labor Time Per Unit
Total Pounds Required for Production
Total Direct Labor Cost
Cost Per Pound
Direct Materials Pounds Per Unit
Total Cost of Direct Materials Purchases
$
enter a dollar amount
select a closing direct materials budget item
Total Cost of Direct Materials Purchases
Direct Labor Time Per Unit
Direct Materials Units to be Purchased
Direct Materials Pounds Per Unit
Units to be Produced
Total Pounds Required for Production
Direct Labor Cost Per Hour
Total Required Direct Labor Hours
Total Direct Labor Cost
Beginning Materials Inventory
Total Materials Required
Desired Ending Inventory Pounds
Cost Per Pound
$
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
Auditing Cases An Active Learning Approach
Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt
2nd Edition
0130674842, 978-0130674845
