The jackets require two direct materials: silk fabric and viscose fabric for lining. Silk Silk fabric is purchased by the yard. 1.75 yards of silk fabric are required for each jacket produced. Management desires to have materials on hand at the end of each month equal to 15 percent of the following month's jacket production needs. Use the @ROUND function to round to the nearest whole number the number of yards 1 of silk desired in ending inventory. The beginning inventory of silk fabric, July 2023, is expected to be 220 yards. Silk fabric is expected to cost $25.00 per yard. Use the @ROUND function to round to the nearest whole number the number of yards of silk to purchase (DM to purchase). (NOTE: budgeted production in October is required in order to complete the direct materials budget for September.) Viscose for lining Viscose fabric is purchased by the roll of 10 yards. 2.2 yards of viscose fabric are required for each jacket produced. Management desires to have viscose fabric on hand at the end of each month equal to 11 percent of the following month's production needs. Use the @ROUND function to round to the nearest whole number the number of viscose yards desired in ending inventory. The beginning inventory, July 2023, is expected to be 187 yards. The roll of 10 yards is expected to cost $110. Use the @ROUND function to round to the nearest whole number the number of viscose fabric yards to purchase (DM to purchase). (NOTE: budgeted production in October is required to complete the direct materials budget for September.) Prepare a Direct Materials budget. Also, because two direct materials are required for production - silk and viscose fabric - you will need a separate schedule for each direct material.
The jackets require two direct materials: silk fabric and viscose fabric for lining. Silk Silk fabric is purchased by the yard. 1.75 yards of silk fabric are required for each jacket produced. Management desires to have materials on hand at the end of each month equal to 15 percent of the following month's jacket production needs. Use the @ROUND function to round to the nearest whole number the number of yards 1 of silk desired in ending inventory. The beginning inventory of silk fabric, July 2023, is expected to be 220 yards. Silk fabric is expected to cost $25.00 per yard. Use the @ROUND function to round to the nearest whole number the number of yards of silk to purchase (DM to purchase). (NOTE: budgeted production in October is required in order to complete the direct materials budget for September.) Viscose for lining Viscose fabric is purchased by the roll of 10 yards. 2.2 yards of viscose fabric are required for each jacket produced. Management desires to have viscose fabric on hand at the end of each month equal to 11 percent of the following month's production needs. Use the @ROUND function to round to the nearest whole number the number of viscose yards desired in ending inventory. The beginning inventory, July 2023, is expected to be 187 yards. The roll of 10 yards is expected to cost $110. Use the @ROUND function to round to the nearest whole number the number of viscose fabric yards to purchase (DM to purchase). (NOTE: budgeted production in October is required to complete the direct materials budget for September.) Prepare a Direct Materials budget. Also, because two direct materials are required for production - silk and viscose fabric - you will need a separate schedule for each direct material.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Need help finding the Direct Materials budget. I included a photo of what i have so far.
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