Langer Company produces plastic items, including plastic housings for humidifiers. Each housing requires about 15 ounces of plastic costing $0.16 per ounce. Langer molds the plastic into the proper shape. Langer has budgeted production of the housings for the next 4 months as follows: July August September October Inventory policy requires that sufficient plastic be in ending monthly inventory to satisfy 30% of the following month's production needs. The inventory of plastic at the beginning of July equals exactly the amount needed to satisfy the inventory policy. Units 3,500 4,400 4,900 6,300 Required: Prepare a direct materials purchases budget for July, August, and September, showing purchases in units and in dollars for each month and in total. If required, round the total purchase cost to nearest whole value. Langer Company Direct Materials Purchases Budget For July, August and September Units to be produced Direct materials per unit (ounces) Production needs Desired ending inventory (ounces) Total needs. Less: Beginning inventory Direct materials to be purchased (ounces) Cost per ounce Total purchase cost July August September 100001 $0.16 0000000 $0.16 Total 100000 gl $0.16

Langer Company produces plastic items, including plastic housings for humidifiers. Each housing requires about 15 ounces of plastic costing $0.16 per ounce. Langer molds the plastic into the proper shape. Langer has budgeted production of the housings for the next 4 months as follows: July August September October Inventory policy requires that sufficient plastic be in ending monthly inventory to satisfy 30% of the following month's production needs. The inventory of plastic at the beginning of July equals exactly the amount needed to satisfy the inventory policy. Units 3,500 4,400 4,900 6,300 Required: Prepare a direct materials purchases budget for July, August, and September, showing purchases in units and in dollars for each month and in total. If required, round the total purchase cost to nearest whole value. Langer Company Direct Materials Purchases Budget For July, August and September Units to be produced Direct materials per unit (ounces) Production needs Desired ending inventory (ounces) Total needs. Less: Beginning inventory Direct materials to be purchased (ounces) Cost per ounce Total purchase cost July August September 100001 $0.16 0000000 $0.16 Total 100000 gl $0.16

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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