Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Zira Co. reports the following production budget for the next four months. Production (units) April 576 May 638 June 688 July 588 Each finished unit

image text in transcribed
Zira Co. reports the following production budget for the next four months. Production (units) April 576 May 638 June 688 July 588 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 691 pounds. Assume direct materials cost $5 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.) June units ZIRA CO. Direct Materials Budget For April May, and June April May Budgeted production (units) 888 Materials requirements per unit Materials needed for production (lbs) Budgeted ending inventory (lbs) Total materials requirements (lbs) Beginning inventory (bs) Materials to be purchased (lbs.) Cost per lb. Total budgeted direct materials cost

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting Version 3.0

Authors: Leah Kratz, Joe Ben Hoyle, C. J. Skender

3rd Edition

1453392904, 9781453392904

More Books

Students also viewed these Accounting questions

Question

1. What is game theory?

Answered: 1 week ago