Zira Company reports the following production budget for the next four months. Each finished unit requires five pounds of direct materials, and 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 683 pounds. Direct materials cost $4 per pound. Prepare a direct materials budget for April, May, and June. (Round your answers to the nearest whole number.) Units to produce April May 455 570 Units to produce Materials required per unit Materials needed for production (pounds) Add: Desired ending materials inventory (pounds) Total materials required (pounds) Less: Beginning materials inventory (pounds) Materials to purchase (pounds) Materials cost per pound Cost of direct materials purchases June 560 Answer is complete but not entirely correct. ZIRA COMPANY Direct Materials Budget April ✓ ✓ July 540 $ $ 455 5 2,275 855 3,130 (663) X 2,467 x 4 9,868 $ $ May 570✔ 5 2,850 840 3,690 (855) 2,835 4 11,340 $ $ June 560 5 2,800 810 3,610 (840) 2,770 11,080 > units pounds pounds pounds pounds pounds pounds per pound

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Master Budget

A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making. 

Sales Budget and Selling

A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.