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Zira Co. reports the following production budget for the next four months. April May 566 620 June July 598 578 Production (units) Each finished unit requires four pounds of raw materials and the company wants to end each month with raw materials inventory equal to 20% of next month's production needs. Beginning raw materials inventory for April was 453 pounds. Assume direct materials cost $4 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.) Budgeted production (units) Materials requirements per unit Materials needed for production (lbs.) Budgeted ending inventory (lbs.) Total materials requirements (lbs.) Beginning inventory (lbs.) Materials to be purchased (lbs.) Cost per lb. Total budgeted direct materials cost ZIRA CO. Direct Materials Budget For April, May, and June April 566 May 620 June 598 units

Zira Co. reports the following production budget for the next four months. April May 566 620 June July 598 578 Production (units) Each finished unit requires four pounds of raw materials and the company wants to end each month with raw materials inventory equal to 20% of next month's production needs. Beginning raw materials inventory for April was 453 pounds. Assume direct materials cost $4 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.) Budgeted production (units) Materials requirements per unit Materials needed for production (lbs.) Budgeted ending inventory (lbs.) Total materials requirements (lbs.) Beginning inventory (lbs.) Materials to be purchased (lbs.) Cost per lb. Total budgeted direct materials cost ZIRA CO. Direct Materials Budget For April, May, and June April 566 May 620 June 598 units

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 628 598 566 578 Production (units) Each finished unit requires four pounds of raw materials and the company wants to end each month with raw materials inventory equal to 20% of next month's production needs. Beginning raw materials inventory for April was 453 pounds. Assume direct materials cost $4 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.) Budgeted production (units) Materials requirements per unit Materials needed for production (lbs.) Budgeted ending inventory (lbs.) Total materials requirements (lbs.) Beginning inventory (lbs.) Materials to be purchased (lbs.) Cost per lb. Total budgeted direct materials cost ZIRA CO. Direct Materials Budget For April, May, and June April 566 May 620 June 598 units
Transcribed Image Text:Zira Co. reports the following production budget for the next four months. April July May June 628 598 566 578 Production (units) Each finished unit requires four pounds of raw materials and the company wants to end each month with raw materials inventory equal to 20% of next month's production needs. Beginning raw materials inventory for April was 453 pounds. Assume direct materials cost $4 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.) Budgeted production (units) Materials requirements per unit Materials needed for production (lbs.) Budgeted ending inventory (lbs.) Total materials requirements (lbs.) Beginning inventory (lbs.) Materials to be purchased (lbs.) Cost per lb. Total budgeted direct materials cost ZIRA CO. Direct Materials Budget For April, May, and June April 566 May 620 June 598 units
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