Zira Company reports the following production budget for the next four months. Each finished unit requires six 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 1,235 pounds. Direct materials cost $3 per pound. Prepare a direct materials budget for April, May, and June. (Round your answers to the nearest whole number.) Units to produce April May 686 740 Units to produce Materials required per unit Materials needed for production (bs) June 718 Add: Desired ending materials inventory (bs) Total materials required (bs) Less: Beginning materials inventory (lbs) Materials to purchase (bs) Materials cost per pound Cost of direct materials purchases ZIRA CO. Direct Materials Budget April July 698 S S 686 6 4,110 4,116 1.235 35 5 May 740 0 4.440 4,440 35 33 June 718 units 0lbs 4,308 lbs 4.300 lbs ibs 3 per lb. 3

Q: Define the term line positions.

A: Employees in the line positions are primarily responsible for achieving the goals of the…

Q: Define Assigning.

A: Assigning is a process of assignment. Assignment means a transfer of a right to receive a…

Q: Explain IO and PO Strips?

A: Interest only (IO) strips are a financial product shaped by unraveling the principal and interest…

Q: What are IO and PO strips?

A: Mortgage-backed securities: The financial instruments intended in raising investment which is…

Q: Explain Destination principle in relation to VAT.

A: The destination principle is a principle in Value Added Tax (VAT) that determines the taxation of…

Q: Define Reconciliation method

A: Bank reconciliation: Bank statement is prepared by bank. The company maintains its own records from…

Q: Different ___________ are separated by definite visibleboundaries

A: The answer is provided as follows:

Q: Define Single-step format

A: Income statement: The financial statement which reports revenues and expenses from business…

Q: In a data visualization, the vertical axis typically shows __________.   Multiple Choice   values…

A: A column chart will include data labels along the horizontal (X) axis with measured metrics or…

Q: What are the classes of transcription errors?

A: Definition: Internal control: Internal control is a process which ensures continuous reliability of…

Q: What is a proxy statement? What information does it provide?

A: Definition:   Proxy statement: Proxy statement is a statement required for seeking shareholders’…

Q: Define management by exception.

A: Management by exceptions: Management by exceptions determines that the managers should not focus if…

Q: Define Double-entry system.

A: Double entry system: Double entry system is a way of accounting or bookkeeping which implies that…

Q: Define characteristic line

A: Characteristic line is a graphical representation of alpha (α) where alpha is the difference between…

Q: How do CDOs differ from CMBSs?

A: Difference between CDO and CMBS is that CMBS is a subset of CDO. In CMBS the underlying assets are…

Q: what is Reference control ?

A: I assumed as a question, as what is meant by the reference  to cost control?

Q: Explain the meaning of withholding at source

A: In finance withholding at source pertains to the domain of taxation. This is found in many countries…

Q: Define Indirect method

A: Hey there ! Since particular concept is not given, indirect method is assumed under cash flow…

Master Budget

A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making. 

Sales Budget and Selling

A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.