g The following facts are known: • The total pounds needed for production are 2 times the units to be produced. • The desired ending direct materials inventory is 20% of the total pounds needed for production. • The beginning direct materials inventory is equal in number to 10% of the units to be produced. • Cost per pound is $5. • Total cost of the direct materials purchases is $1,035,000. Prepare a direct materials budget for the period.

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24-08-2020
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g The following facts are known: • The total pounds needed for production are 2 times the units to be produced. • The desired ending direct materials inventory is 20% of the total pounds needed for production. • The beginning direct materials inventory is equal in number to 10% of the units to be produced. • Cost per pound is $5. • Total cost of the direct materials purchases is $1,035,000. Prepare a direct materials budget for the period.

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andromache andromache · Answer 1 · 2020-08-26T02:27:24+02:00

Answer and Explanation:

The Preparation of direct material budget is shown below:-

Direct Material budget

Particulars Amount

Units to be produced $90,000 Y

Material per unit 2

Total pounds needed for

production M $180,000 2Y

Add: Desired ending Direct

Material Inventory 20% $36,000 (.2 × 2Y = .4Y)

Total Material requirement $216,000 (2.4Y )

Less: beginning Raw material

Inventory $9,000 (.1Y)

Material to be purchased

Account $207,000 (2.3Y)

Cost per pound C $5

Total cost of direct Material

Purchases A $1,035,000

2Y + .4Y - .1Y = $207,000

Y = $207,000 ÷ 2.3 $90,000

Sam1s Sam1s · Answer 2 · 2022-02-28T08:36:09+01:00

The Total cost of direct Material is $90,000.

"Direct Material budget"

The Preparation of direct material budget is shown below:-

Production

Production= Units to be produce*Amount

Production=90000*2

Production=1,80,000

Direct Material

Inventory = Production* 20%

Inventory =180000*20%

Inventory =$36,000

Total Material requirement =$216,000

Less: beginning Raw material

Inventory $9,000

Material to be purchased =2,07,000

Total cost of direct Material

Total cost of direct Material=Material to be purchased*Cost per pound

Total cost of direct Material=$207,000*$5

Total cost of direct Material= $1,035,000

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