Ramos Company provides the following budgeted production for the next four months.April May442570June544Units to produceEach finished unit requires 5 pounds of direct materials. The company wants to end each month with direct materials inventory equalto 30% of next month's production needs. Beginning direct materials inventory for April was 663 pounds. Direct materials cost $2 perpound. Prepare a direct materials budget for April, May, and June.Units to produceMaterials needed for production (pounds)Total materials required (pounds)July540Materials to purchase (pounds)Materials cost per poundCost of direct materials purchasesRAMOS COMPANYDirect Materials BudgetApril442May570June544 units Electro Company budgets production of 450,000 electric panels in the second quarter and 520,000 electric panels in the thirdquarter. Each panel requires 0.80 pound of direct material at a cost of $1.70 per pound. The company desires to end each quarter withan ending inventory of this material equal to 20% of next quarter's budgeted materials requirements. Beginning inventory of thismaterial is 72,000 pounds.Prepare a direct materials budget for the second quarter.Units to produceELECTRO COMPANYDirect Materials BudgetMaterials needed for production (pounds)Total materials requiredMaterials to purchase (pounds)Cost of direct materials purchasesSecond Quarter450,000 units

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Ramos Company provides the following budgeted production for the next four months. April May 570 June July 544 540 442 Units to produce Each finished unit requires 5 pounds of direct materials. The company wants to end each month with direct materials inventory equal to 30% of next month's production needs. Beginning direct materials inventory for April was 663 pounds. Direct materials cost $2 per pound. Prepare a direct materials budget for April, May, and June. Units to produce Materials needed for production (pounds) Total materials required (pounds) Materials to purchase (pounds) Materials cost per pound Cost of direct materials purchases RAMOS COMPANY Direct Materials Budget April 442 May 570 June 544 units

Ramos Company provides the following budgeted production for the next four months. April May 570 June July 544 540 442 Units to produce Each finished unit requires 5 pounds of direct materials. The company wants to end each month with direct materials inventory equal to 30% of next month's production needs. Beginning direct materials inventory for April was 663 pounds. Direct materials cost $2 per pound. Prepare a direct materials budget for April, May, and June. Units to produce Materials needed for production (pounds) Total materials required (pounds) Materials to purchase (pounds) Materials cost per pound Cost of direct materials purchases RAMOS COMPANY Direct Materials Budget April 442 May 570 June 544 units

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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