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Lakers Company budgets production of 25,000 units for January and 30,000 units for February. Each finished unit requires 3 pounds of raw material Kobe that
Lakers Company budgets production of 25,000 units for January and 30,000 units for February. Each finished unit requires 3 pounds of raw material Kobe that costs $3.50 per pound. Each months ending raw materials inventory should equal 25% of the following months budgeted materials. The January 1 inventory for material Kobe is 15,000 pounds. What are the budgeted materials (in pounds) needed to be purchased in January?
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