Aggie Corp is preparing its Master Budget for $2024.$ You need to prepare Aggie$$s Direct Materials Budget

and Schedule of Cash Disbursements for Materials Purchases on the excel template provided and create

a function that allows management to enter a month and get amount of materials purchased and cash

spent for that month.

REQUIRED

$1.$ PREPARE A DIRECT MATERIALS BUDGET $(5$ POINTS$)$

Prepare the Direct Materials Budget for the first three months of Aggie$$s fiscal year $($January$,$

February, and March$),$ along with the full quarter.

Relevant information

$$ Required Production

o January $=90,000$ units

o February $=70,000$ units

o March $=125,000$ units

o April $=130,000$ units

$$ Pounds of materials needed per unit $=3$ pounds

$$ Beginning raw materials inventory on January $1,2024=50,000$ pounds.

$$ Percentage of the following month$$s production used to determine desired ending

inventory $=20\%$

$$ Raw materials cost per pound $=$ $$2\mathrm{.}5$ per pound

January February March Quarter

Cost of raw materials to be purchased $$655,000$ $$607,500$ $$945,000$ $$2,207,500$

Total Cash Disbursements for Materials $$521,000$ $$637,250$ $$682,125$ $$1,840,375$ PREPARE A DIRECT MATERIALS BUDGET $(5$ POINTS$)$

Prepare the Direct Materials Budget for the first three months of Aggie$$s fiscal year $($January$,$

February, and March$)$