Direct Materials Purchases Budget

Anticipated sales for Solid Grip Company were $66,000$ passenger car tires and $20,000$ truck tires. Rubber and steel belts are used in producing passenger car and truck tires as follows:

Passenger Car Truck

Rubber $29$ lb$.$ per unit $68$ lb$.$ per unit

Steel belts $7$ lb$.$ per unit $18$ lb$.$ per unit

The purchase prices of rubber and steel are $$3\mathrm{.}50$ and $$4\mathrm{.}60$ per pound, respectively. The desired ending inventories of rubber and steel belts are $62,000$ and $13,000$ pounds, respectively. The estimated beginning inventories for rubber and steel belts are $73,000$ and $11,000$ pounds, respectively.

Prepare a direct materials purchases budget for Solid Grip Company for the year ended December $31,20$Y$8.$ When required, enter unit prices to the nearest cent.

Solid Grip Company

Direct Materials Purchases Budget

For the Year Ending December $31,20$Y$8$

Rubber Steel Belts Total

Pounds required for production:

Passenger tires fill in the blank $1$lb$.$ fill in the blank $2$lb$.$

Truck tires fill in the blank $3$ fill in the blank $4$

$-$ Select $--$ Select $-$

Total pounds required fill in the blank $8$lb$.$ fill in the blank $9$lb$.$

$-$ Select $--$ Select $-$

Total pounds to be purchased fill in the blank $13$lb$.$ fill in the blank $14$lb$.$

Unit price $($per pound$)$ x $fill in the blank $15$ x $fill in the blank $16$

Total direct materials to be purchased $fill in the blank $17$ $fill in the blank $18$ $fill in the blank $19$

LU$06$ Homework assignment take frame

Anticipated sales for Solid Grip Company were $66,000$ passenger car tires and $20,000$ truck tires. Rubber and steel belts are used in producing passenger car and truck tires as follows:

inventories for rubber and steel belts are $73,000$ and $11,000$ pounds, respectively.

Prepare a direct materials purchases budget for Solid Grip Company for the year ended December $31,20$Y$8.$ When required, enter unit prices to the nearest cent.

Solid Grip Company

Direct Materials Purchases Budget

For the Year Ending December $31,20Y8$

Pounds required for production:

Passenger tires

lb$.$

Ib$.$

Truck tires

Total pounds required

Ib$.$

Ib$.$

Total pounds to be purchased

lb$.$

Ib$.$

Unit price $($per pound$)$

Total direct materials to be purchased