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Clipboard Font Alignment Number Styles F8 fx =17*Data!B39 A B D E F G H | J K L M N 1 PART A
Clipboard Font Alignment Number Styles F8 fx =17*Data!B39 A B D E F G H | J K L M N 1 PART A - 3. Direct material purchases budget 2 3 Bishop & Co 4 Direct Material Purchases Budget For The Quarter Ended 30 September 2018 5 Jul Aug Sept Total Oct 6 Required Production Units 7 Required Materials at 1/2 metre/unit Metres 8 Add:Closing inventory Metres 9 Materials Available Metres 10 Less: Opening Inventory Metres 7,800 3,900 3,950 593 593 4,493 4,543 585 593 7,900 7,900 23,600 6,000 3,950 11,800 450 450 4,400 12,250 3,000 593 585 450 11 Required Purchases in metres Metres 3,908 3,950 3,808 11,665 12 Required Purchases in $ $ $70,335 $71,100 $68,535 $209,970 13 14 15 Tip: In the TOTAL column, Opening Inventory is the opening inventory at the START of the period 16 and the Closing inventory is the closing inventory in the END of the period. Don't add across the budget for these figures 17 In this budget you need to start by converting units to required metres - refer to self Test 5.4 for a similar example, 18 19 20 21 22 22 Cells highlighted in blue have an incorrect answer Direct materials Bishop and Co uses metre of material to make each golf bag. The material costs $18.00 per metre. Management wants to hold sufficient material at the end of each month to meet 15% of the next month's production requirements. Raw materials are paid for in the month after the month of purchase. June's purchases are $76,320 (ex GST). A B C D E F G H | J K L 1 PART A - 2. Production budget (in units) 2 3 Bishop & Co 4 Production Budget (in units) For The Quarter Ended 30 September 2018 5 July August Sept Total Oct Nov 6 Budgeted Sales Units 8,000 7,500 8,500 24,000 7,000 6,000 7 Add: Closing Inventory Units 3,000 3,400 2,800 2,800 2,400 8 Total Required Units 11,000 10,900 11,300 26,800 9,400 9 Less: Opening Inventory Units 3,200 3,000 3,400 3,200 3,400 10 Number of Units Plan To Produce Units 7,800 7,900 7,900 23,600 6,000 11 Tip: In the TOTAL column, Opening Inventory is the opening inventory at the START of the period and the Closing inventory is the closing inventory in the END of the period. Don't add across the budget for these figures 12345678
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