FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Ramos Company provides the following budgeted production for the next four months.
Units to produce
April
460
May
590
June
560
July
560
Each finished unit requires 5 pounds of direct materials. 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 690 pounds.
Direct materials cost $2 per pound. Prepare a direct materials budget for April, May, and June.
Units to produce
Materials required per unit
Materials needed for production (pounds)
Add: Desired ending materials inventory (pounds)
Total materials required (pounds)
Less: Beginning materials inventory (pounds)
Materials to purchase (pounds)
Materials cost per pound
Cost of direct materials purchases
Answer is not complete.
RAMOS COMPANY
Direct Materials Budget
April
May
June
480
590
560
units
590 x
590
590
pounds
590 x
168
pounds
590 x
3,185
5 pounds
0
590 x
10
2,495
2,345 pounds
S
590.00 $
590.00
S
590.00
$ 1,472,050
S
0
expand button
Transcribed Image Text:Ramos Company provides the following budgeted production for the next four months. Units to produce April 460 May 590 June 560 July 560 Each finished unit requires 5 pounds of direct materials. 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 690 pounds. Direct materials cost $2 per pound. Prepare a direct materials budget for April, May, and June. Units to produce Materials required per unit Materials needed for production (pounds) Add: Desired ending materials inventory (pounds) Total materials required (pounds) Less: Beginning materials inventory (pounds) Materials to purchase (pounds) Materials cost per pound Cost of direct materials purchases Answer is not complete. RAMOS COMPANY Direct Materials Budget April May June 480 590 560 units 590 x 590 590 pounds 590 x 168 pounds 590 x 3,185 5 pounds 0 590 x 10 2,495 2,345 pounds S 590.00 $ 590.00 S 590.00 $ 1,472,050 S 0
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