Norris, Inc. is preparing its budget. Production for May will be 500 widgets, then 600 for June,

Question:

Norris, Inc. is preparing its budget. Production for May will be 500 widgets, then 600 for June, 700 for July, and 800 for August. Each widget requires 4 pounds of plastic and each pound costs $1.00. Norris will have 280 pounds of plastic on hand at April 30 and wants to have 6,000 pounds in inventory atthe end August. for plastic for May will be 300 pounds, 400 pounds for June, and 500 pounds forJuly. Prepare the direct materials
budget by month for June andJuly.
Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...