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Anticipated sales for Safety Grip Company were 35,000 passenger car tires and 11,000 truck tires. Rubber and steel belts are used in producing passenger car and truck tires as follows: Passenger Car Truck Rubber 28 lbs. per unit 65 lbs. per unit Steel belts 6 lbs. per unit 15 lbs. per unit The purchase prices of rubber and steel are $3.00 and $3.90 per pound, respectively. The desired ending inventories of rubber and steel belts are 33,000 and 7,000 pounds, respectively. The estimated beginning inventories for rubber and steel belts are 39,000 and 6,000 pounds, respectively. Prepare a direct materials purchases budget for Safety Grip Company for the year ended December 31, 20Y9. Safety Grip Company Direct Materials Purchases Budget For the Year Ending December 31, 20Y9 Rubber Line Item Description Pounds required for production: Passenger tires Truck tires Total pounds available. Total units purchased Unit price Total direct materials to be purchased x $ lbs. lbs. lbs. Steel Belts x $ lbs. lbs. lbs. Total 0

Anticipated sales for Safety Grip Company were 35,000 passenger car tires and 11,000 truck tires. Rubber and steel belts are used in producing passenger car and truck tires as follows: Passenger Car Truck Rubber 28 lbs. per unit 65 lbs. per unit Steel belts 6 lbs. per unit 15 lbs. per unit The purchase prices of rubber and steel are $3.00 and $3.90 per pound, respectively. The desired ending inventories of rubber and steel belts are 33,000 and 7,000 pounds, respectively. The estimated beginning inventories for rubber and steel belts are 39,000 and 6,000 pounds, respectively. Prepare a direct materials purchases budget for Safety Grip Company for the year ended December 31, 20Y9. Safety Grip Company Direct Materials Purchases Budget For the Year Ending December 31, 20Y9 Rubber Line Item Description Pounds required for production: Passenger tires Truck tires Total pounds available. Total units purchased Unit price Total direct materials to be purchased x $ lbs. lbs. lbs. Steel Belts x $ lbs. lbs. lbs. Total 0

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Anticipated sales for Safety Grip Company were 35,000 passenger car tires and 11,000 truck tires. Rubber and steel belts are used in producing passenger car and truck tires as follows: Rubber Steel belts Passenger Car 28 lbs. per unit 6 lbs. per unit The purchase prices of rubber and steel are $3.00 and $3.90 per pound, respectively. The desired ending inventories of rubber and steel belts are 33,000 and 7,000 pounds, respectively. The estimated beginning inventories for rubber and steel belts are 39,000 and 6,000 pounds, respectively. Truck 65 lbs. per unit 15 lbs. per unit Prepare a direct materials purchases budget for Safety Grip Company for the year ended December 31, 20Y9. Safety Grip Company Direct Materials Purchases Budget For the Year Ending December 31, 20Y9 Rubber Line Item Description Pounds required for production: Passenger tires Truck tires Total pounds available Total units purchased Unit price Total direct materials to be purchased x $ lbs. lbs. lbs. Steel Belts x $ lbs. lbs. lbs. Total
Transcribed Image Text:Anticipated sales for Safety Grip Company were 35,000 passenger car tires and 11,000 truck tires. Rubber and steel belts are used in producing passenger car and truck tires as follows: Rubber Steel belts Passenger Car 28 lbs. per unit 6 lbs. per unit The purchase prices of rubber and steel are $3.00 and $3.90 per pound, respectively. The desired ending inventories of rubber and steel belts are 33,000 and 7,000 pounds, respectively. The estimated beginning inventories for rubber and steel belts are 39,000 and 6,000 pounds, respectively. Truck 65 lbs. per unit 15 lbs. per unit Prepare a direct materials purchases budget for Safety Grip Company for the year ended December 31, 20Y9. Safety Grip Company Direct Materials Purchases Budget For the Year Ending December 31, 20Y9 Rubber Line Item Description Pounds required for production: Passenger tires Truck tires Total pounds available Total units purchased Unit price Total direct materials to be purchased x $ lbs. lbs. lbs. Steel Belts x $ lbs. lbs. lbs. Total
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