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Preparing a Diect Materials Prchases Budget Patrick Inc, makes industral solvents sold in 5-gallon drum containers. Planned production in units for the fiest 3 moeths of the coming year anuary 45.000 ebuary 55.000 March 60.000 Each drum requires&galons of chemicals and one plastic drum container Company policy ruis that nding stor of aw maerials for each month be 20% of the et month's preduction needs. That policy sas met for the endng inventory of December in the por yea The cost of one galen of chemicals is $2.00 The cost of one dem is 1.6 Required 1. Calculate the ending inventory of chemicals in gallons for December of the prier yea and for January and February, What is the beginning inventory of chemicals for January Round your answers to the nearest hole gallon Ending inventory for December galons Ending investory for January gallons Ending inventory for February7 gallons Beginning inventory for January gallons Ch. 9 Homework eBook Vide gallons Beginning inventory for January 2. Prepare a direct materials purchases budget for chemicals for the m part of your answer Patrick Inc Direct Materials Purchases Budget- Chemicals in Gallons For the Months of January and February February January Production in units Gallons per unit Gallons for production Desired ending inventory Needed Less: Beginning inventory Purchases Price per gallon Dollar purchases 3. Calculate the ending inventory of drums for December of the prior year, and for January and February. Round your answers to the nearest whole unit Ending inventory for December units Ending inventory for January units Ending inventory for February units 4. Prepare a direct materials purcha your answer. Patrick Inc. Direct Materials Purchases Budget-Drums For the Months of January and February February January Production in units Drums per unit Drums for production Desired ending inventory Needed Less: Beginning inventory Purchases Price per drum Dollar purchases