Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Thank you! The following information is located in the production department of Clifton Co: Units produced Second First Quarter Quarter 15,000 25,000 Other information found
Thank you!
The following information is located in the production department of Clifton Co: Units produced Second First Quarter Quarter 15,000 25,000 Other information found in the production department includes: Third Quarter Fourth Quarter 10,000 35.000 Prior Year Ending RM Inventory 13.125 Prior Year Ending A/P $ 18,750 Pounds of RM per unit 3.5 RM Cost per pound $ 3.00 The ending raw material inventory per month should be 25% of the following quarter's production needs. The desired ending inventory for the fourth quarter is 2.700 pounds. Management plans to pay for 55% of the raw material purchases in the quarter bought and 45% in the following quarter. Question: Given the data, the second quarter direct materials budget should be: Direct Materials Budget Second First Quarter Quarter Fourth Third Outer Quarter quarter's production needs. The desired ending inventory for the fourth quarter is 2.700 pounds. Management plans to pay for 55% of the raw material purchases in the quarter bought and 45% in the following quarter. Question: Given the data, the second quarter direct materials budget should be: Direct Materials Budget First Quarter Second Quarter Required Production Fourth Third Quarter Quarter Raw Materials Per Unit Production Needs Add Desired End Inv Total Needs Less Beg Inv RM to be purchased Costs of Raw materials per pound $ 3.00 $ 3.00 $ 3.00 $ 3.00 Cost of DM PurchasedStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started