Anticipated sales for Safety Grip Company were 64,000 passenger car tires and 19,000 truck tires. Rubber...
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Anticipated sales for Safety Grip Company were 64,000 passenger car tires and 19,000 truck tires. Rubber and steel belts are used in producing passenger car and truck tires as follows: Rubber Passenger Car Truck 26 lbs. per unit 61 lbs. per unit Steel belts 4 lbs. per unit 10 lbs. per unit The purchase prices of rubber and steel are $3.50 and $4.60 per pound, respectively. The desired ending inventories of rubber and steel belts are 60,000 and 13,000 pounds, respectively. The estimated beginning inventories for rubber and steel belts are 70,000 and 10,000 pounds, respectively. Prepare a direct materials purchases budget for Safety Grip Company for the year ended December 31, 2019. Safety Grip Company Direct Materials Purchases Budget For the Year Ending December 31, 20Y9 Line Item Description Pounds required for production: Passenger tires Truck tires Rubber lbs. Steel Belts Total lbs. Total pounds available lbs. lbs. Total units purchased Unit price Total direct materials to be purchased lbs. lbs. x $ Anticipated sales for Safety Grip Company were 64,000 passenger car tires and 19,000 truck tires. Rubber and steel belts are used in producing passenger car and truck tires as follows: Rubber Passenger Car Truck 26 lbs. per unit 61 lbs. per unit Steel belts 4 lbs. per unit 10 lbs. per unit The purchase prices of rubber and steel are $3.50 and $4.60 per pound, respectively. The desired ending inventories of rubber and steel belts are 60,000 and 13,000 pounds, respectively. The estimated beginning inventories for rubber and steel belts are 70,000 and 10,000 pounds, respectively. Prepare a direct materials purchases budget for Safety Grip Company for the year ended December 31, 2019. Safety Grip Company Direct Materials Purchases Budget For the Year Ending December 31, 20Y9 Line Item Description Pounds required for production: Passenger tires Truck tires Rubber lbs. Steel Belts Total lbs. Total pounds available lbs. lbs. Total units purchased Unit price Total direct materials to be purchased lbs. lbs. x $
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