Lens Junction has required production of 15,400 units in January and 18,100 in February. Each lens consists of 2 pounds of silicon costing $2.50 per pound and 3 ounces of solution costing $3 per ounce. Desired inventory levels are: Jan. Feb. Mar. Beginning Inventory: Finished Goods 4,500 4,900 5,000 DM - Silicon 8,500 9,100 9,200 DM - Solution 11,200 12,000 13,000 PLEASE NOTE: Units are rounded to whole numbers with commas as needed (i.e. 1,234) - no labels. All dollar amounts are rounded to whole dollars and shown with "$" 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) - no labels. 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 above, along with the terms above, prepare a direct materials (DM) budget for silicon for the the two months of January and February (use the format shown in the textbook): Lens Junction Direct Materials (DM) Budget - Silicon For the Two Months Ending Feb. 28, 2019 January February Total DM - Silicon for Two Months Using the information above, along with the terms above, prepare a direct materials (DM) budget for solution for the the two months of January and February (use the format shown in the textbook): Lens Junction Direct Materials (DM) Budget - Solution For the Two Months Ending Feb. 28, 2019 January February Total DM - Solution for Two Months

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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Lens Junction has required production of 15,400 units in January and 18,100 in February. Each lens consists of 2 pounds of silicon costing $2.50 per pound and 3 ounces of solution costing $3 per ounce. Desired inventory levels are:

	Jan.	Feb.	Mar.
Beginning Inventory:
Finished Goods	4,500	4,900	5,000
DM - Silicon	8,500	9,100	9,200
DM - Solution	11,200	12,000	13,000

PLEASE NOTE: Units are rounded to whole numbers with commas as needed (i.e. 1,234) - no labels. 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) - no labels.

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 above, along with the terms above, prepare a direct materials (DM) budget for silicon for the the two months of January and February (use the format shown in the textbook):

Lens Junction
Direct Materials (DM) Budget - Silicon
For the Two Months Ending Feb. 28, 2019
	January	February









Total DM - Silicon for Two Months

Using the information above, along with the terms above, prepare a direct materials (DM) budget for solution for the the two months of January and February (use the format shown in the textbook):

Lens Junction
Direct Materials (DM) Budget - Solution
For the Two Months Ending Feb. 28, 2019
	January	February









Total DM - Solution for Two Months

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