Anticipated sales for Safety Grip Company were 41,000 passenger car tires and 12,000 truck tires. Rubber and steel belts are used in producing passenger car and truck tires as follows: Passenger Car Truck 34 lbs. per unit 79 lbs. per unit 7 lbs. per unit 18 lbs. per unit The purchase prices of rubber and steel are $3.70 and $4.80 per pound, respectively. The desired ending inventories of rubber and steel belts are 39,000 and 8,000 pounds, respectively. The estimated beginning inventories for rubber and steel belts are 45,000 and 6,000 pounds, respectively. Prepare a direct materials purchases budget for Safety Grip Company for the year ended December 31, 2019. Rubber Steel belts

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question

Please do not give solution in image format thanku 

Anticipated sales for Safety Grip Company were 41,000 passenger car tires and 12,000 truck tires. Rubber and steel belts are used in producing
passenger car and truck tires as follows:
Passenger Car
34 lbs. per unit
79 lbs. per unit
7 lbs. per unit 18 lbs. per unit
The purchase prices of rubber and steel are $3.70 and $4.80 per pound, respectively. The desired ending inventories of rubber and steel belts are
39,000 and 8,000 pounds, respectively. The estimated beginning inventories for rubber and steel belts are 45,000 and 6,000 pounds, respectively.
Prepare a direct materials purchases budget for Safety Grip Company for the year ended December 31, 2019.
Rubber
Steel belts
Truck
Transcribed Image Text:Anticipated sales for Safety Grip Company were 41,000 passenger car tires and 12,000 truck tires. Rubber and steel belts are used in producing passenger car and truck tires as follows: Passenger Car 34 lbs. per unit 79 lbs. per unit 7 lbs. per unit 18 lbs. per unit The purchase prices of rubber and steel are $3.70 and $4.80 per pound, respectively. The desired ending inventories of rubber and steel belts are 39,000 and 8,000 pounds, respectively. The estimated beginning inventories for rubber and steel belts are 45,000 and 6,000 pounds, respectively. Prepare a direct materials purchases budget for Safety Grip Company for the year ended December 31, 2019. Rubber Steel belts Truck
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
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
Rubber
lbs.
lbs.
lbs.
X
Steel Belts
lbs.
lbs.
lbs.
Total
Transcribed Image Text: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 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 Rubber lbs. lbs. lbs. X Steel Belts lbs. lbs. lbs. Total
Expert Solution
steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Inventory Management
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education