* CengageNOW2 | Online teachin x signment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false eBook Show Me How E Print Item Direct Materials Purchases Budget Pasadena Candle Inc. budgeted production of 785,000 candles for January. Wax is required to produce a candle. Assume 10 ounces of wax is required for each candle. The estimated January 1 wax inventory is 16,000 pounds. The desired January 31 wax inventory is 12,500 pounds. If candle wax costs $1.24 per pound, determine the direct materials purchases budget for January. (One pound - 16 ounces.) For those boxes in which you must enter subtracted or negative numbers use a minus sign. Pasadena Candle Inc. Direct Materials Purchases Budget For the Month Ending January 31 Pounds of wax required for production: Estimated beginning inventory, January 1 16,000 X Desired ending inventory, January 31 12,500 503,125 Total units available 12,500 Estimated beginning inventory, January 1 487,125 V Total pounds to be purchased 1.24 V Unit price (per Ib.) 604,035 Total direct materials to be purchased in January Feedback Check My Work Remember to take into account materials required for production, desired ending materials inventory and estimated beginning materials inventory when calculating direct materials to be purchased.
* CengageNOW2 | Online teachin x signment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false eBook Show Me How E Print Item Direct Materials Purchases Budget Pasadena Candle Inc. budgeted production of 785,000 candles for January. Wax is required to produce a candle. Assume 10 ounces of wax is required for each candle. The estimated January 1 wax inventory is 16,000 pounds. The desired January 31 wax inventory is 12,500 pounds. If candle wax costs $1.24 per pound, determine the direct materials purchases budget for January. (One pound - 16 ounces.) For those boxes in which you must enter subtracted or negative numbers use a minus sign. Pasadena Candle Inc. Direct Materials Purchases Budget For the Month Ending January 31 Pounds of wax required for production: Estimated beginning inventory, January 1 16,000 X Desired ending inventory, January 31 12,500 503,125 Total units available 12,500 Estimated beginning inventory, January 1 487,125 V Total pounds to be purchased 1.24 V Unit price (per Ib.) 604,035 Total direct materials to be purchased in January Feedback Check My Work Remember to take into account materials required for production, desired ending materials inventory and estimated beginning materials inventory when calculating direct materials to be purchased.
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter8: Budgeting For Planning And Control
Section: Chapter Questions
Problem 3CE: Refer to Cornerstone Exercise 8.2 for the production budgets for practice balls and match balls....
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Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
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E Print Item
Direct Materials Purchases Budget
Pasadena Candle Inc. budgeted production of 785,000 candles for January. Wax is required to produce a candle. Assume 10 ounces of wax is required for each candle. The estimated January 1 wax
inventory is 16,000 pounds. The desired January 31 wax inventory is 12,500 pounds. If candle wax costs $1.24 per pound, determine the direct materials purchases budget for January. (One pound
= 16 ounces.) For those boxes in which you must enter subtracted or negative numbers use a minus sign.
Pasadena Candle Inc.
Direct Materials Purchases Budget
For the Month Ending January 31
Pounds of wax required for production:
Estimated beginning inventory, January 1
16,000 X
Desired ending inventory, January 31
12,500 V
Total units available
503,125
12,500 X
Estimated beginning inventory, January 1
487,125
Total pounds to be purchased
1.24
Unit price (per Ib.)
S 604,035
Total direct materials to be purchased in January
Feedback
Check My VWork
Remember to take into account materials required for production, desired ending materials inventory and estimated beginning materials inventory when calculating direct materials to be purchased.
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