The Rolling Department of Oak Ridge Steel Company had 300 tons in beginning work in process inventory (25% complete) on July 1.
During July, 2,200 tons were completed. The ending work in process inventory on July 31 was 500 tons (40% complete). What are the total equivalent units for direct materials for July if materials are added at the beginning of the process? units.
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Answer:
The budgeted materials needed in units for April = 67000 litres
Explanation:
The budgeted production for April = 68000 units
The budgeted production for may = 64000 units
The cost of raw material per unit = $1.70 per unit
It is given that at the end of each month the inventory should be = 25%
The April 1 inventory = 17000 units
Now calculate the material required for April production:
Therefore, the budgeted materials needed in units for April = 67000 litres