Exercise 10.46 The manager of Safe Keeping Wallets believes that the company will sell 390 designer credit card safe wallets next month. She expects to have 39 wallets in finished goods inventory at the beginning of the month and would like to have 78 wallets in ending inventory. Each wallet requires 0.25 metres of leather. The manager expects to have 59 metres of leather on hand at the beginning of the month, but she would like to decrease ending inventory to 20 metres. The estimated cost per metre of leather is $40. Your answer is incorrect. Try again. How many metres of leather will need to be purchased to meet these requirements? What is the estimated cost? (Round metres of leather answer to 2 decimal places, e.g. 52.75 and other answer to o decimal places, e.g. 5,275.) Leather to be purchased 71.75 metres Estimated cost 2870 LINK TO TEXT LINK TO TEXT LINK TO TEXT Your answer is partially correct. Try again. During the month, 374 wallets were sold. Prepare a direct materials purchases budget for this level of sales. (Round metres of leather answer to 2 decimal places, e.g. 52.75 and other answer to o decimal places, e.g. 5,275.) Next Qtr Sales 1 Add Ending Inventory =XX Less V Beginning Inventory Production Production Direct Materials Less V Beginning Inventory Add Ending Inventory Direct Material Purchases Cost of Direct Material