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Zinaida [17]
3 years ago
13

Perine Company has 2,000 pounds of raw materials in its December 31, 2016, ending inventory. Required production for January and

February of 2017 are 4,000 and 5,000 units, respectively. 2 pounds of raw materials are needed for each unit, and the estimated cost per pound is $6. Management desires an ending inventory equal to 25% of next month’s materials requirements. Prepare the direct materials budget for January.
Business
1 answer:
nexus9112 [7]3 years ago
3 0

Answer:

Budgeted purchase for January = $48,000

Explanation:

Opening stock of raw material = 2,000 pounds

Requirement for January = 4,000 units \times 2 per unit = 8,000 units

Also provided that inventory upto 25% of next month requirement is to be held, that is for 5,000 units of finished goods 5,000 \times 2 = 10,000 units \times 25% = 2,500 units, of raw material is required.

Total purchase for January = Closing requirement + Current month requirement - Opening Stock = 2,500 + 8,000 - 2,000 = 8,500 units to be purchased

Total purchase cost = 8,000 units \times $6 = $48,000

Final Answer

Budgeted purchase for January = $48,000

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