Pasadena Candle Inc. budgeted production of 730,000 candles for the January. Wax is required to produce a candle. Assume 14 ounces of wax is required for each candle. The estimated January 1 wax inventory is 19,000 pounds. The desired January 31 wax inventory is 13,900 pounds. If candle wax costs $1.90 per pound, determine the direct materials purchases budget for January. (One pound 16 ounces.) Round all computed answers to the nearest whole number. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Pasadena Candle Inc. Direct Materials Purchases Budget For the Month Ending January 31 Pounds of wax required for production: Total units available Total pounds to be purchased Unit price Total direct materials to be purchased January 0000000

Pasadena Candle Inc. budgeted production of 730,000 candles for the January. Wax is required to produce a candle. Assume 14 ounces of wax is required for each candle. The estimated January 1 wax inventory is 19,000 pounds. The desired January 31 wax inventory is 13,900 pounds. If candle wax costs $1.90 per pound, determine the direct materials purchases budget for January. (One pound 16 ounces.) Round all computed answers to the nearest whole number. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Pasadena Candle Inc. Direct Materials Purchases Budget For the Month Ending January 31 Pounds of wax required for production: Total units available Total pounds to be purchased Unit price Total direct materials to be purchased January 0000000

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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Zira Company reports the following production budget for the next four months. Each finished unit requires six pounds of direct materials, and the company wants to end each month with direct materials inventory equal to 40% of next month's production needs. Beginning direct materials inventory for April was 1,541 pounds. Direct materials cost $5 per pound. Prepare a direct materials budget for April, May, and June. (Round your answers to the nearest whole number.) April May June 642 670 676 Units to produce Check my work July 656
Sherman has budgeted sales for the upcoming quarter as follows: April: 1, 600 units May: 1,900 units June: 1,750 units The desired ending finished goods inventory for each month is one - half of next month's budgeted sales. Three pounds of direct material are required for each unit produced. If direct material costs $5 per pound, and must be paid for in the month of purchase, the budgeted direct materials purchases (in dollars) for May are: Group of answer choices $1,975 $9, 875 $27, 750 $13, 875
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Pasadena Candle Inc. budgeted production of 710,000 candles for the January. Wax is required to produce a candle. Assume 10 ounces of wax is required for each candle. The estimated January 1 wax inventory is 16,800 pounds. The desired January 31 wax inventory is 13,200 pounds. If candle wax costs $1.50 per pound, determine the direct materials purchases budget for January. (One pound = 16 ounces.) Round all computed answers to the nearest whole number. For those boxes in which you must enter subtracted or negative numbers use a minus sign.
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Soft and Silky, Inc., manufactures bedding sets. The budgeted production is for 53,000 comforters in the coming year. Each comforter requires 6 yards of material. The estimated January 1 beginning inventory is 31,000 yards. The desired ending balance is 30,000 yards of material. If the material costs $1.50 per yard, what is the materials budget for the coming year? a.$385,500 b.$478,500 c.$475,500 d.$477,000
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