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 April July Production (units) 576 608 June May 630 Each finished unit requires

image text in transcribed
Zira Co. reports the following production budget for the next four months April July Production (units) 576 608 June May 630 Each finished unit requires four pounds of raw materials and the company wants to end each month with raw materials inventory equal to 20% of next month's production needs. Beginning raw materials inventory for April was 461 pounds. Assume direct materials cost $3 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.) ZIRA CO Direct Materials Budget For April, May, and June April 576 May June 630 608 units 4 4 lbs 2,304 2.520 2.432 lbs Budgeted production (units) Materials requirements per unit Materials needed for production (lbs) Budgeted ending inventory (lbs) Total materials requirements (lbs.) Beginning inventory (lbs.) 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

Step: 3

blur-text-image

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

Fundamental Managerial Accounting Concepts

Authors: Thomas Edmonds, Christopher Edmonds, Bor Yi Tsay, Philip Old

7th edition

978-0077632427, 77632427, 78025656, 978-0078025655

More Books

Students also viewed these Accounting questions

Question

Describe the seven standard parts of a letter.

Answered: 1 week ago

Question

Explain how to develop effective Internet-based messages.

Answered: 1 week ago

Question

Identify the advantages and disadvantages of written messages.

Answered: 1 week ago