SteeringIndustrial has estimated that production for the next five quarters will be:

Production Information

1st quarter, 202050,400units

2nd quarter, 202045,600units

3rd quarter, 202055,200units

4th quarter, 202043,200units

1st quarter, 202152,000units

Finished units of production require6pounds of raw material per unit. The raw material cost is $7per pound. There is $317,520of raw material on hand at the beginning of the first quarter, 2020.Steeringdesires to have15percent of next quarter's material requirements on hand at the end of each quarter.

Prepare quarterly direct materials purchases budgets forSteeringIndustrial for 2020.

SteeringIndustrial

Direct Materials Purchases Budget

For the Year Ending December 31, 2020

Quarter 1 Quarter 2 Quarter 3 Quarter 4 Year

select an opening direct materials purchases budget item

Units to be produced

Cost of raw material per unit

Desired ending inventory of raw material

Total material needed

Beginning inventory of raw material

Required raw material purchases

Cost of raw material needed for production

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selectanitem

Units to be produced

Cost of raw material per unit

Desired ending inventory of raw material

Total material needed

Beginning inventory of raw material

Required raw material purchases

Cost of raw material needed for production

$

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$

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selectasummarizinglineforthefirstpart

Units to be produced

Cost of raw material per unit

Desired ending inventory of raw material

Total material needed

Beginning inventory of raw material

Required raw material purchases

Cost of raw material needed for production

enteratotaldollaramountforthefirstpart

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selectanitem

Units to be produced

Cost of raw material per unit

Desired ending inventory of raw material

Total material needed

Beginning inventory of raw material

Required raw material purchases

Cost of raw material needed for production

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selectasummarizinglineforthesecondpart

Units to be produced

Cost of raw material per unit

Desired ending inventory of raw material

Total material needed

Beginning inventory of raw material

Required raw material purchases

Cost of raw material needed for production

enteratotaldollaramountforthesecondpart

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selectbetweenadditionanddeduction

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selectanitem

Units to be produced

Cost of raw material per unit

Desired ending inventory of raw material

Total material needed

Beginning inventory of raw material

Required raw material purchases

Cost of raw material needed for production

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select a closing direct materials purchases budget item

Units to be produced

Cost of raw material per unit

Desired ending inventory of raw material

Total material needed

Beginning inventory of raw material

Required raw material purchases

Cost of raw material needed for production

$

enter a total amount for the direct materials purchases budget

$

enter a total amount for the direct materials purchases budget

$

enter a total amount for the direct materials purchases budget

$

enter a total amount for the direct materials purchases budget

$

enter a total amount for the direct materials purchases budget