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Steinway Inc., the builder of large pianos and musical instruments is preparing its master budget for the second quarter. The following sales and production data
Steinway Inc., the builder of large pianos and musical instruments is preparing its master budget for the second quarter. The following sales and production data have been forecast as: Finished goods inventory on March 31: 120 units Raw materials inventory on March 31: 450 pounds Desired ending inventory each month: Finished goods: 30% of next month's sales Raw materials: 25% of next month's production needs Number of pounds of raw material required per finished unit: 4lbs. How many pounds of raw materials should Steinway purchase in April
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