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Zira Co. reports the following production budget for the next four months. April July May June Production (units) 626 680 658 638 Each finished unit requires six pounds of raw materials and the company wants to end each month with raw materials inventory equal to 30% of next month's production needs. Beginning raw materials inventory for April was 1,127 pounds. Assume direct materials cost $3 per pound. Prepare a direct materials budget for April, May, and June. (Round your intermediate calculations and final answers to the nearest whole dollar amount.) Answer is complete but not entirely correct. ZIRA CO. Direct Materials Budget For April, May, and June April May June Budgeted production (units) Materials requirements per unit 658 units 626 680 6 lbs. 6 6 Materials needed for production (lbs.) Budgeted ending inventory (lbs.) Total materials requirements (lbs.) Beginning inventory (lbs.) Materials to be purchased (lbs.) 3,948 lbs. 3,756 4,080 1,148 lbs. 1,224 1,184 5,096 lbs. 4,980 5,264 1,184 lbs. 1,224 1,127 3,912 lbs 3,853 4,040 per lb. 3 $ Cost per lb $ 11,559 12,120 11,736x Total budgeted direct materials cost

Zira Co. reports the following production budget for the next four months. April July May June Production (units) 626 680 658 638 Each finished unit requires six pounds of raw materials and the company wants to end each month with raw materials inventory equal to 30% of next month's production needs. Beginning raw materials inventory for April was 1,127 pounds. Assume direct materials cost $3 per pound. Prepare a direct materials budget for April, May, and June. (Round your intermediate calculations and final answers to the nearest whole dollar amount.) Answer is complete but not entirely correct. ZIRA CO. Direct Materials Budget For April, May, and June April May June Budgeted production (units) Materials requirements per unit 658 units 626 680 6 lbs. 6 6 Materials needed for production (lbs.) Budgeted ending inventory (lbs.) Total materials requirements (lbs.) Beginning inventory (lbs.) Materials to be purchased (lbs.) 3,948 lbs. 3,756 4,080 1,148 lbs. 1,224 1,184 5,096 lbs. 4,980 5,264 1,184 lbs. 1,224 1,127 3,912 lbs 3,853 4,040 per lb. 3 $ Cost per lb $ 11,559 12,120 11,736x Total budgeted direct materials cost

FINANCIAL ACCOUNTING
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 Co. reports the following production budget for the next four months. April July May June Production (units) 626 680 658 638 Each finished unit requires six pounds of raw materials and the company wants to end each month with raw materials inventory equal to 30% of next month's production needs. Beginning raw materials inventory for April was 1,127 pounds. Assume direct materials cost $3 per pound. Prepare a direct materials budget for April, May, and June. (Round your intermediate calculations and final answers to the nearest whole dollar amount.) Answer is complete but not entirely correct. ZIRA CO. Direct Materials Budget For April, May, and June April May June Budgeted production (units) Materials requirements per unit 658 units 626 680 6 lbs. 6 6 Materials needed for production (lbs.) Budgeted ending inventory (lbs.) Total materials requirements (lbs.) Beginning inventory (lbs.) Materials to be purchased (lbs.) 3,948 lbs. 3,756 4,080 1,148 lbs. 1,224 1,184 5,096 lbs. 4,980 5,264 1,184 lbs. 1,224 1,127 3,912 lbs 3,853 4,040 per lb. 3 $ Cost per lb $ 11,559 12,120 11,736x Total budgeted direct materials cost
Transcribed Image Text:Zira Co. reports the following production budget for the next four months. April July May June Production (units) 626 680 658 638 Each finished unit requires six pounds of raw materials and the company wants to end each month with raw materials inventory equal to 30% of next month's production needs. Beginning raw materials inventory for April was 1,127 pounds. Assume direct materials cost $3 per pound. Prepare a direct materials budget for April, May, and June. (Round your intermediate calculations and final answers to the nearest whole dollar amount.) Answer is complete but not entirely correct. ZIRA CO. Direct Materials Budget For April, May, and June April May June Budgeted production (units) Materials requirements per unit 658 units 626 680 6 lbs. 6 6 Materials needed for production (lbs.) Budgeted ending inventory (lbs.) Total materials requirements (lbs.) Beginning inventory (lbs.) Materials to be purchased (lbs.) 3,948 lbs. 3,756 4,080 1,148 lbs. 1,224 1,184 5,096 lbs. 4,980 5,264 1,184 lbs. 1,224 1,127 3,912 lbs 3,853 4,040 per lb. 3 $ Cost per lb $ 11,559 12,120 11,736x Total budgeted direct materials cost
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