Ramos Company provides the following budgeted production for the next four months.Units to produceApril620MayJuneJuly750720720Each finished unit requires 5 pounds of direct materials. The company wants to end each month with direct materials inventory equalto 30% of next month's production needs. Beginning direct materials inventory for April was 930 pounds. Direct materials cost $2 perpound. Prepare a direct materials budget for April, May, and June.Units to produceMaterials needed for production (pounds)Total materials required (pounds)Materials to purchase (pounds)Materials cost per poundCost of direct materials purchasesRAMOS COMPANYDirect Materials BudgetAprilMayJune620750720 units0

Step 1:Direct materials budget is presented hereunder:…

Answered: Ramos Company provides the following…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Zira Company reports the following production budget for the next four months. Each finished unit requires four pounds of direct materials, and the company wants to end each month with direct materials inventory equal to 30% of next month's production needs. Beginning direct materials inventory for April was 701 pounds. Direct materials cost $5 per pound. Prepare a direct materials budget for April, May, and June. (Round your answers to the nearest whole number.) Units to produce Units to produce April May 584 625 Materials needed for production (pounds) Total materials required (pounds) Materials to purchase (pounds) Cost of direct materials purchases June 617 July 597 ZIRA COMPANY Direct Materials Budget April May June
Sevenbergen Corporation makes one product and has provided the following information to help prepare the master budget for the next four months of operations: Budgeted selling price per unit Budgeted unit sales (all on credit) July August September October Raw materials requirement per unit of output Raw materials cost Direct labor requirement per unit of output Direct labor vage rate. Variable selling and administrative expense Fixed selling and administrative expense Credit sales are collected: 40% in the month of the sale 60% in the following month $ 92 9,000 11,300 10,400 10,800 4 pounds $ 1.00 per pound 2.8 direct labor-hours $22.00 per direct labor- hour $ 1.50 per unit sold. $70,000 per month Raw materials purchases are paid 30% in the month of purchase 70% in the following month The ending finished goods inventory should equal 20% of the following month's sales. The ending raw materials inventory should equal 30% of the following month's raw materials production needs. The…
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Subject: accounting
The production budget for Juno & Jones, Inc. shows the company expects to produce 400 units in the first quarter and 630 units in the second quarter. Each unit will require 11 pounds of direct materials at a cost of $1.90 per pound. The company prefers to maintain raw materials inventory equal to 40% of the next quarters materials needs.Prepare a production budget for the first quarter.Juno & Jones, Inc.Direct Materials BudgetFirst Quarter Budgeted units to be produced Pounds of materials required per unit Total pounds of materials needed in production Plus desired ending inventory in pounds Total direct materials needed Less pounds of materials in beginning inventory Total Pounds of Direct Materials to be purchased Cost of materials per pound Total cost of materials to be purchased Direct Materials cost per unit
kasson Company has budgeted units to be produced for the next five months as follows: budgeted units to be produced June 12,000 July 15,000 August 11,000 September 18,000 October 22,000 Kasson Company used the following information in creating its master budget for the year: Ending direct materials inventory for each month should be equal to 140% of the next month's production needs. Each unit produced requires 2.5 pounds of direct materials. Direct materials are purchased for $2.30 per pound. Kasson Company pays for 65% of a month's purchase of direct materials in the month of purchase, 25% of a month's purchase of direct materials is paid in the month after purchase, and the final 10% is paid in the second month after the month of purchase. Calculate Kasson Company's budgeted accounts payable at September 30.
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Zoom Pte Ltd has prepared the following budget for the next three months: January February March Sales in units 16,000 21,000 20,000 Production in units 17,000 19,000 18,000 One kg of material is required for each finished unit. The inventory of materials at the end of each month should equal 20% of the following month's production needs. Purchases of raw materials for February would be budgeted to be: Question 18 options: 1) 19,000 kg 2) 19,200 kg 3) 23,000 kg 4) 18,800 kg

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