Becker Bikes manufactures tricycles. The company expects to sell 390 units in May and 520 units in June. Beginning and ending finished goods for May are expected to be 115 and 80 units, respectively. June's ending finished goods are expected to be 90 units. Each unit requires 3 wheels at a cost of $9 per wheel. Becker requires 20 percent of next month's material production needs on hand each month, July's production units are expected to be 490 units. Compute Becker's direct materials purchases budget with respect to wheels for May and June.

Becker Bikes manufactures tricycles. The company expects to sell 390 units in May and 520 units in June. Beginning and ending finished goods for May are expected to be 115 and 80 units, respectively. June's ending finished goods are expected to be 90 units. Each unit requires 3 wheels at a cost of $9 per wheel. Becker requires 20 percent of next month's material production needs on hand each month, July's production units are expected to be 490 units. Compute Becker's direct materials purchases budget with respect to wheels for May and June.

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Essentials of Business Analytics (MindTap Course List)

2nd Edition

ISBN:9781305627734

Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Chapter11: Linear Optimization Models

Section: Chapter Questions

Problem 13P: The Silver Star Bicycle Company will manufacture both mens and womens models for its Easy-Pedal...

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Concept explainers

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.

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Becker Bikes manufactures tricycles. The company expects to sell 390 units in May and 520 units in June. Beginning and ending
finished goods for May are expected to be 115 and 80 units, respectively. June's ending finished goods are expected to be 90 units.
Each unit requires 3 wheels at a cost of $9 per wheel. Becker requires 20 percent of next month's material production needs on hand
each month, July's production units are expected to be 490 units.
Compute Becker's direct materials purchases budget with respect to wheels for May and June.
Budgeted cost of wheels purchased
May
June

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Sunrise Poles manufactures hiking poles and is planning on producing 4,000 units in March and 3,700 in April. Each pole requires a half pound of material, which costs $1.20 per pound. The company's policy is to have enough material on hand to equal 10% of the next month's production needs and to maintain a finished goods inventory equal to 25% of the next month's production needs. PLEASE NOTE: Units are rounded to whole numbers with commas as needed (i.e. 1,234). All dollar amounts are rounded to whole dollars and shown with "$" and commas as needed (i.e. $12,345), except for any "per" amounts (units or dollars), which are rounded to two decimal places and shown with "$" and commas as needed (i.e. $1,234.56) Cost per Pound Desired Ending Inventory DM per Unit Units to be Produced Pounds Needed for Production Required DM Pounds Beginning Inventory Total Cost of DM Purchase Total DM Required Using the information aboye, along with the terms above, prepare a direct materials (DM) budget…