Doanne Food Processing expects to have 36,000 pounds of raw materials inventory on hand on March 31, the end of the current year
. The company budgets the following production (in units) for April through July, inclusive:April 120,000May 130,000June 140,000July 120,000 At the end of each month the firm desires its ending raw material inventory to be 10% of the next month's production needs. Each finished unit requires two pounds of raw materials. Doanne's budgeted purchases for raw materials (in pounds) during April should be:
In a free market economy, the market, not the government, determines prices. The interaction of producers and consumers determine the price in the market.
