Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Ruiz Co. provides the following sales forecast for the next four months: AprilMayJuneJuly Sales (units) 550630580670 The company wants to end each month with ending

Ruiz Co. provides the following sales forecast for the next four months:

AprilMayJuneJuly

Sales (units) 550630580670

The company wants to end each month with ending finished goods inventory equal to 30% of next month's forecasted sales. Finished goods inventory on April 1 is 165 units. Assume July's budgeted production is 580 units. In addition, each finished unit requires four pounds (lbs.) of raw materials and the company wants to end each month with raw materials inventory equal to 30% of next month's production needs. Beginning raw materials inventory for April was 689 pounds. Assume direct materials cost $5 per pound.

Make a materials budget for April, May, and June.(Round your intermediate calculations and final answers to the nearest whole dollar amount.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Intermediate Accounting

Authors: kieso, weygandt and warfield.

14th Edition

9780470587232, 470587288, 470587237, 978-0470587287

Students also viewed these Accounting questions

Question

4. Is crime caused by mental illness?

Answered: 1 week ago