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Dallas Industries has adopted the following production budget for the first 4 months of 2014. Month Units Month Units January 10,320 March 5,170 February 8,380
Dallas Industries has adopted the following production budget for the first 4 months of 2014.
Month | Units | Month | Units | |||
January | 10,320 | March | 5,170 | |||
February | 8,380 | April | 4,200 |
Each unit requires 5 pounds of raw materials costing $3 per pound. On December 31, 2013, the ending raw materials inventory was 9,220 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.
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