Question

If 86,500 pounds of raw materials are needed to meet production in august, how many pounds of raw materials should be purchased in july??

Answer 1

6,200 pounds of raw materials should be purchased in July.

What are raw materials?

• Raw materials are the goods or inventories required by a company to make its products.
• Steel, oil, corn, grain, gasoline, lumber, forest resources, plastic, natural gas, coal, and minerals are examples of raw materials.

The raw material purchases for July are computed as follows:

• Required production in units of finished goods.
• Units of raw materials needed per unit of finished goods.
• Units of raw materials are needed to meet production.
• Add desired units of ending raw materials inventory.
• Total units of raw materials needless units of beginning raw materials inventory.
• Units of raw materials to be purchased.

71,000 pounds × 10% = 7,100 pounds.

62,000 pounds × 10% = 6,200 pounds.

Therefore, 6,200 pounds of raw materials should be purchased in July.

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The correct question is given below:

If 71,000 pounds of raw materials are needed to meet production in August, how many pounds of raw materials should be purchased in July?