Swifty, Inc. produces pellets for cornhole bags from plastic resin which it sells by the pound. Swifty has estimated production and sales of pellets in pounds for the next 2 months as:

		May		June
Estimated production		42,500		49,000
Estimated sales		53,700		34,500

Each pound of pellets requires 0.30 pounds of resin. The cost of resin is $5.50 per pound. Swifty wants to have 20% of the next month's direct materials requirements on hand at the end of each month. 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 needed per unit and cost per pound to two decimal palces.)

SWIFTY, INC. Direct Materials Purchases Budget Month of May
select an opening direct materials purchases budget item Budgeted cost of direct materials purchasesBudgeted direct materials purchases in poundsEnding direct materials inventory desiredBeginning direct materials inventoryTotal pounds of resin needed for productionPounds of resin needed per pound of pelletsCost per pound of resinEstimated production in pounds of pellets for May			enter a number of units
select an item Beginning direct materials inventoryEnding direct materials inventory desiredTotal pounds of resin needed for productionCost per pound of resinEstimated production in pounds of pellets for MayBudgeted direct materials purchases in poundsBudgeted cost of direct materials purchasesPounds of resin needed per pound of pellets			enter an amount of pounds rounded to 2 decimal places
select a summarizing line for the first part Budgeted cost of direct materials purchasesCost per pound of resinEnding direct materials inventory desiredBeginning direct materials inventoryEstimated production in pounds of pellets for MayPounds of resin needed per pound of pelletsTotal pounds of resin needed for productionBudgeted direct materials purchases in pounds			enter a total amount of pounds for the first part
select between addition and deduction AddLess:	select an item Total pounds of resin needed for productionBudgeted direct materials purchases in poundsEnding direct materials inventory desiredPounds of resin needed per pound of pelletsCost per pound of resinEstimated production in pounds of pellets for MayBudgeted cost of direct materials purchasesBeginning direct materials inventory		enter an amount of pounds
select between addition and deduction AddLess:	select an item Pounds of resin needed per pound of pelletsBudgeted direct materials purchases in poundsBudgeted cost of direct materials purchasesTotal pounds of resin needed for productionCost per pound of resinBeginning direct materials inventoryEnding direct materials inventory desiredEstimated production in pounds of pellets for May		enter an amount of pounds
select a summarizing line for the second part Beginning direct materials inventoryPounds of resin needed per pound of pelletsBudgeted direct materials purchases in poundsCost per pound of resinBudgeted cost of direct materials purchasesEstimated production in pounds of pellets for MayTotal pounds of resin needed for productionEnding direct materials inventory desired			enter a total amount of pounds for the second part
select an item Pounds of resin needed per pound of pelletsEnding direct materials inventory desiredBudgeted direct materials purchases in poundsBudgeted cost of direct materials purchasesEstimated production in pounds of pellets for MayCost per pound of resinTotal pounds of resin needed for productionBeginning direct materials inventory			$enter a dollar amount rounded to 2 decimal places
select a closing direct materials purchases budget item Budgeted direct materials purchases in poundsEnding direct materials inventory desiredBeginning direct materials inventoryCost per pound of resinTotal pounds of resin needed for productionEstimated production in pounds of pellets for MayPounds of resin needed per pound of pelletsBudgeted cost of direct materials purchases			$enter a total amount for the direct materials pu