FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Seranno Inc. budgeted production of 55,000 personal journals in 20Y6. Paper is required to produce a journal. Assume 104 square yards of paper are required for each journal. The estimated January 1, 20Y6, paper inventory is 286,000 square yards. The desired December 31, 20Y6, paper inventory is 315,000 square yards.
If paper costs $0.16 per square yard, determine the direct materials purchases budget for 20Y6. If required, round your final answer to the nearest dollar.
$
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