Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please find the attachment. Homework question for Cost Accounting. fKiwiCorp has the following budgeted sales: Month Unit Sales July 1,000 August 1,200 There were 200
Please find the attachment. Homework question for Cost Accounting.
\fKiwiCorp has the following budgeted sales: Month Unit Sales July 1,000 August 1,200 There were 200 units of finished goods in inventory at the beginning of July. Plans are to have an inventory of 400 finished units at the beginning of next month. Four (4) pounds of materials are required for each unit produced. Each pound of material is expected to cost $5 in July. Beginning inventory of direct materials is 400 pounds at a cost per pound of $4.75. Target ending inventory for materials is equal to 10% of the sales requirements for the next month. Required: a. Prepare a production budget for July. b. Prepare a direct materials usage budget for July. c. Prepare a direct materials purchases budget for JulyStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started