Homework: Chapter 9 Homework (required) Save Score: 0.64 of 1 pt 2 2 of 9 (8 complete) HW Score: 84.52%, 7.61 of 9 pts %E9-22A (similar to) Question Help Smith Manufacturing produces self-watering planters for use in upscale retail establishments. Sales projections for the first five months of the upcoming year show the estimated unit sales of the planters each month to be as follows: (Click the icon to view additional information.) Inventory at the start of the year was 640 planters. The desired inventory of planters at the end of each month should be equal to 20% of the following month's budgeted sales. Each planter requires lour pounds of polypropylene (a type of plastic). The company wants to have 10% of the polypropylene required for next month's production on hand at the end of each month. The polypropylene costs $0.25 per pound. Read the requirements Requirement 1. Prepare a production budget for each month in the first quarter of the year, including production in units for each month and for the quarter. Smith Manufacturing Production Budget For the Months of January through March January February Unit sales 3,200 3,600 Plus: Desired ending inventory 720 620 March 3,100 900 Quarter 9.900 900 4.220 4,000 Total needed Less: Beginning inventory 3,920 640 10.800 640 720 620 3,280 3,380 Units to produce 3.500 10.160 Requirement 2. Prepare a direct materials budget for the polypropylene for each month in the first quarter of the year, including the pounds of polypropylene required and the total cost of the polypropylene to be purchased. Start by preparing the direct materials budget through the total quantity needed, then complete the budget. Smith Manufacturing Direct Materials Budget For the Months of January through March Enter any number in the edit fields and then click Check Answer. ? Homework: Chapter 9 Homework (required) Save Score: 0.64 of 1 pt 2 of 9 (8 complete) HW Score: 84.52%. 7.61 of 9 pts E9-22A (similar to) Question Help Smith Manufacturing produces sell-watering planters for use in upscale retail establishments. Sales projections for the first five months of the upcoming year show the estimated unit sales of the planters each month to be as follows: B (Click the icon to view additional information.) Inventory at the start of the year was 640 planters. The desired inventory of planters at the end of each month should be equal to 20% of the following month's budgeted sales. Each planter requires four pounds of polypropylene (a type of plastic). The company wants to have 10% of the polypropylene required for next month's production on hand at the end of each month. The polypropylene costs $0.25 per pound. Read the requirements. Units to produce Requirement 2. Prepare a direct materials budget for the polypropylene for each month in the first quarter of the year, including the pounds of polypropylene required and the total cost of the polypropylene to be purchased. Start by preparing the direct materials budget through the total quantity needed, then complete the budget Smith Manufacturing Direct Materials Budget A Data Table For the Months of January through March January February March Quarter Units to be produced 3,280 3.500 3,380 10.160 Number of planters to be sold 4 4 4 Multiply by: Quantity of direct materials needed per unit January 3,200 13,120 Quantity needed for production 14.000 13,520 40,840 February 3.600 1.400 1,816 1.352 March Plus: 1,816 3,100 Desired ending inventory of direct materials 14,520 Total quantity needed April 15,336 42.456 4,500 May 4,700 Less: Beginning inventory of direct materials Quantity to purchase Multiply by: Cost per pound Print Done 15.352 Total cost of direct material purchases Enter any number in the edit fields and then click Check Answer. ? All parts showing Clear All Check