Lily Company has 1,760 pounds of raw materials in its December 31, 2021, ending inventory. Required...

 

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Lily Company has 1,760 pounds of raw materials in its December 31, 2021, ending inventory. Required production for January and February of 2022 arc 4,400 and 5,500 units, respectively. Two pounds of raw materials are needed for each unit, and the estimated cost per pound is $5. Management desires an ending inventory equal to 20% of next month's materials requirements. Prepare the direct materials budget for January. LILY COMPANY Direct Materials Budget $ Lily Company has 1,760 pounds of raw materials in its December 31, 2021, ending inventory. Required production for January and February of 2022 arc 4,400 and 5,500 units, respectively. Two pounds of raw materials are needed for each unit, and the estimated cost per pound is $5. Management desires an ending inventory equal to 20% of next month's materials requirements. Prepare the direct materials budget for January. LILY COMPANY Direct Materials Budget $

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LILY COMPANY Direct Materials Budget For the Month Ending January 31 2022 Uni... View the full answer