Question
The following are budgeted data: January February March Sales in units 17,000 24,000 20,000 Production in units 20,000 21,000 20,100 One pound of material is
The following are budgeted data:
| January | February | March | |||||||
| Sales in units | 17,000 | 24,000 | 20,000 | ||||||
| Production in units | 20,000 | 21,000 | 20,100 | ||||||
One pound of material is required for each finished unit. The inventory of materials at the end of each month should equal 30% of the following month's production needs. Purchases of raw materials for February would be budgeted to be:
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Principles Of Auditing: An International Perspective
Authors: Rick Stephan Hayes, Philip Wallage, Arnold Schilder, Roger Dassen
1st Edition
0077095324, 978-0077095321
