Coronado Industries has adopted the following production budget for the first 4 months of 2022. Each unit
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Question:
Coronado Industries has adopted the following production budget for the first 4 months of 2022.
Each unit requires 4 pounds of raw materials costing $6 per pound. On December 31, 2021, the ending raw materials inventory was 7.360 pounds. Management wants to have a raw materials inventory at the end of the month equal to 20% of next month's production requirements.
Prepare a direct materials purchases budget by month for the first quarter.
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