Required information Miami Solar manufactures solar panels for industrial use. The company budgets production of 4,300 units (solar panels) in July and 5,400 units in August. Each unit requires 3 pounds of direct materials, which cost $6 per pound. The company's policy is to maintain direct materials inventory equal to 20% of the next month's direct materials requirement. As of June 30, the company has 2,580 pounds of direct materials in inventory. Prepare the direct materials budget for July. Units to produce MIAMI SOLAR Direct Materials Budget Materials needed for production (pounds) Total materials required (pounds) Materials to purchase (pounds) Cost of direct materials purchases July 4,300

Electro Company budgets production of 670,000 electric panels in the second quarter and 740,000 electric panels in the third quarter. Each panel requires 0.80 pound of direct material at a cost of $2.00 per pound. The company desires to end each quarter with an ending inventory of this material equal to 20% of next quarter's budgeted materials requirements. Beginning inventory of this material is 107,200 pounds. Prepare a direct materials budget for the second quarter. ELECTRO COMPANY Direct Materials Budget Units to produce Materials required per unit Materials needed for production (pounds) Add: Desired ending materials inventory Total materials required Less: Beginning materials inventory Materials to purchase (pounds) Materials cost per pound Cost of direct materials purchases * Second Quarter 670,000 units 0.80 pounds 536,000 pounds

Soft and Silky, Inc., manufactures bedding sets. The budgeted production is for 53,000 comforters in the coming year. Each comforter requires 6 yards of material. The estimated January 1 beginning inventory is 31,000 yards. The desired ending balance is 30,000 yards of material. If the material costs $1.50 per yard, what is the materials budget for the coming year? a.$385,500 b.$478,500 c.$475,500 d.$477,000

Magnolia, Inc., manufactures bedding sets. The budgeted production is for 16,500 comforters this year. Each comforter requires 7 yards of material. The estimated January 1 beginning inventory is 3,740 yards with the desired ending balance of 5,200 yards of material. If the material costs $7.80 per yard. Determine the materials budget for the year.

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For Crane Company, units to be produced are 5,300 in quarter 1 and 7,420 in quarter 2. It takes 1.6 hours to make a finished unit, and the expected hourly wage rate is $15 per hour. Prepare a direct labor budget by quarters for the 6 months ending June 30, 2022. $ $ CRANE COMPANY Direct Labor Budget 1 Quarter $ $ 2 $ Six Months

Zortek Corporation budgets production of 490 units in January and 290 units in February, Each finished unit requires five pounds of material Z, which costs $4 per pound. Each month's ending inventory of material Z should be 40% of the following month's budgeted production. The January 1 inventory has 980 pounds of material Z. Prepare a direct materials budget for January. Units to produce ZORTEK CORPORATION Direct Materials Budget Materials needed for production (Pounds) Total materials required (Pounds) Materials to purchase (Pounds) Cost of direct materials purchases . January units pounds pounds pounds pounds pounds i 0 pounds per pound

Fact Pattern: A company produces a product that requires 2 pounds of a raw material. It is forecast that there will be 6,000 pounds of raw material on hand at the end of June. At the end of any given month, the company wishes to have 30% of next month's raw material requirements on hand. The company has budgeted production of the product for July, August, September, and October to be 10,000, 12,000, 13,000, and 11,000 units, respectively. As of June 1, the raw material sells for $1.00 per pound. In the month of September, raw material purchases and ending inventory, respectively, will be (in pounds): OA. OB. O C. 24,800 and 6,600. 32,600 and 6,600. 24,800 and 3,900. OD. 13,000 and 3,900.