Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please complete the table Required information Ramos Co. provides the following sales forecast and production budget for the next four months: April May JuneJuly 600

image text in transcribedimage text in transcribedPlease complete the table

Required information Ramos Co. provides the following sales forecast and production budget for the next four months: April May JuneJuly 600 500 530 Sales (units) Budgeted production (units) 580 442570 54540 The company plans for finished goods inventory of 120 units at the end of June. In addition, each finished unit requires 5 pounds of direct materials and the company wants to end each month with direct materials inventory equal to 30% of next month's production needs. Beginning direct materials inventory for April was 663 pounds. Direct materials cost $2 per pound. Each finished unit requires 0.50 hours of direct labor at the rate of $16 per hour. The company budgets variable overhead at the rate of $20 per direct labor hour and budgets fixed overhead of $8,000 per month. Prepare a direct materials budget for April, May, and June. RAMOS co Direct Materials Budget For April, May, and June April May June 544 units 5 lbs 442 570 Budget production (units) aterials requirements per unit Materials needed for production (Ibs.) 2,210 2,850 2,720 Ibs udgeted ending inventory (Ibs.) Total materials requirements (Ibs.) Beginning inventory (lbs.) Materials to be purchased (Ibs.) Materials price per pound Budgeted cost of direct materials purchases 663 (663)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Warren Buffett Accounting Book Reading Financial Statements For Value Investing

Authors: Stig Brodersen, Preston Pysh

1st Edition

1939370159, 9781939370150

More Books

Students also viewed these Accounting questions

Question

The inequality x 2 + 1 Answered: 1 week ago

Answered: 1 week ago

Question

2. Answer the question, Who should do the appraising?pg 87

Answered: 1 week ago

Question

1. Explain the purpose of performance appraisal.pg 87

Answered: 1 week ago