I took a picture of what i have so far, I am having trouble with the direct material budget. 3. The jackets require two direct materials: silk fabric and viscose fabric for lining.SilkSilk fabric is purchased by the yard. 1.75 yards of silk fabric are required for eachjacket produced. Management desires to have materials on hand at the end of eachmonth equal to 15 percent of the following month's jacket production needs. Use the@ROUND function to round to the nearest whole number the number of yards1of silk desired in ending inventory. The beginning inventory of silk fabric, July2023, is expected to be 220 yards. Silk fabric is expected to cost $25.00 per yard. Usethe @ROUND function to round to the nearest whole number the number ofyards of silk to purchase (DM to purchase). (NOTE: budgeted production inOctober is required in order to complete the direct materials budget for September.)Viscose for liningViscose fabric is purchased by the roll of 10 yards. 2.2 yards of viscose fabric arerequired for each jacket produced. Management desires to have viscose fabric onhand at the end of each month equal to 11 percent of the following month'sproduction needs. Use the @ROUND function to round to the nearest wholenumber the number of viscose yards desired in ending inventory. The beginninginventory, July 2023, is expected to be 187 yards. The roll of 10 yards is expected tocost $110. Use the @ROUND function to round to the nearest whole number thenumber of viscose fabric yards to purchase (DM to purchase). (NOTE: budgetedproduction in October is required to complete the direct materials budget forSeptember.)Prepare a Direct Materials budget. Also, because two direct materials are requiredfor production - silk and viscose fabric - you will need a separate schedule foreach direct material. Sales BudgetUnit SalesUnit PriceSales RevenueCash SaleCredit SaleTotalProduction Budget0.12TotalDirect Material BudgetTotalDirect Labor Budget$$0.10 $0.901.15 $5801.15 $667.00 $66.70 $600.30667.00 $July83667.00750JulyJulyJuly6001.15 $690.00 $69.00 $621.00690.00 $August90690.00780AugustAugustAugust6501.15 $747.50 $74.75 $672.75747.50 $September117747.50865SeptemberSeptemberSeptember8501.15977.5097.75 $879.75977.50 $October138977.501,116OctoberOctober$$October1,0001.151,150.00115.001,035.001,150.00November1,150.001,150NovemberNovember0November0O

A direct materials budget is one of the budget which a company prepares so that the materials which…

Answered: Prepare a Direct Materials budget.…

Prepare a Direct Materials budget. Also, because two direct materials are required for production - silk and viscose fabric - you will need a separate schedule for each direct material.

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter8: Budgets And Bank Reconciliations

Section: Chapter Questions

Problem 2.5C

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