Smoke, Inc. makes and sells serving trays. Each tray uses 1/2 pound of plastic. Budgeted production of trays in units for the next three months is as follows: Budgeted production April May 21,000 22,000 June 24,000 The company wants to maintain monthly ending inventories of plastic equal to 25% of the following month's budgeted production needs. The cost of plastic is $2.20 per pound. Prepare a direct materials purchases budget for the month of May. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Round pounds of plastic needed for each bucket to 1 decimal place and cost per pound to 2 decimal places.) $

continuation

Smoke, Inc. makes and sells serving trays. Each tray uses 1/2 pound of plastic. Budgeted production of trays in units for the next three months is as follows: The company wants to maintain monthly ending inventories of plastic equal to 25% of the following month's budgeted production needs. The cost of plasticis $2.20 per pound. Prepare a direct materials purchases budget for the month of May. (Enter negative amounts using either a negotive sign preceding the number es, -45 or paren theses es. (45). Round pounds of plastic needed for each bucket to 1 decimal place and cost per pound to 2 decimal places)