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Brief Exercise 23-4 Perine Company has 2,026 pounds of raw materials in its December 31, 2016, ending inventory. Required production for January and February of
Brief Exercise 23-4
Perine Company has 2,026 pounds of raw materials in its December 31, 2016, ending inventory. Required production for January and February of 2017 are 4,220 and 5,750 units, respectively. 2 pounds of raw materials are needed for each unit, and the estimated cost per pound is $8. Management desires an ending inventory equal to 24% of next months materials requirements. Prepare the direct materials budget for January
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