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The question reads: DeWitt Industries has adopted the following production budget for the first 4 months of 2020. Month Units Month Units January 10,340 March
The question reads:
DeWitt Industries has adopted the following production budget for the first 4 months of 2020.
Month | Units | Month | Units | |||
January | 10,340 | March | 5,440 | |||
February | 8,480 | April | 4,230 |
Each unit requires 3 pounds of raw materials costing $4 per pound. On December 31, 2019, the ending raw materials inventory was 6,204 pounds. Management wants to have a raw materials inventory at the end of the month equal to 20% of next months production requirements. Prepare a direct materials purchases budget by month for the first quarter.
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