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Perine Company has 2,296 pounds of raw materials in its December 31, 2019, ending inventory. Required production for January and February of 2020 are 4,100
Perine Company has 2,296 pounds of raw materials in its December 31, 2019, ending inventory. Required production for January and February of 2020 are 4,100 and 5,600 units, respectively. 2 pounds of raw materials are needed for each unit, and the estimated cost per pound is $6. Management desires an ending inventory equal to 28% of next months materials requirements. Prepare the direct materials budget for January.
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