Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Zira Co. reports the following production budget for the next four months. April 676 May 730 June 708 July 688 Production (units) Each finished unit
Zira Co. reports the following production budget for the next four months. April 676 May 730 June 708 July 688 Production (units) Each finished unit requires four pounds of raw materials and the company wants to end each month with raw materials inventory equal to 30% of next month's production needs. Beginning raw materials inventory for April was 811 pounds. Assume direct materials cost $4 per pound. Prepare a direct materials budget for April, May, and June. (Round your intermediate calculations and final answers to the nearest whole dollar amount.) Answer is complete but not entirely correct. Materials requirements per unit Beginning inventory (lbs.) Materials needed for production (lbs.) Beginning inventory (lbs.) Total materials requirements (lbs.) Beginning inventory (lbs.) Materials to be purchased (lbs.) Cost per lb. Total budgeted direct materials cost ZIRA CO. Direct Materials Budget For April, May, and June April May x 676 730 X 3 X 3 2,028 2,190 X X 657 X 637 X 2,685 2,827 X 1,217 X 657 X 1,468 X 2,170 X $ $ 2 $ 2 x $ $ 2,202 X $ 3,255 x $ June 708 units 3 lbs. 2,124 X lbs. 619 x lbs . 2,743 lbs. 637 X lbs. 2,106 lbs. 2 x per lb. 3,159 X >
Step 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