Maria Richard, Coronado & Charles Fabricators' purchasing manager, has just received the company's production budget for...

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Maria Richard, Coronado & Charles Fabricators' purchasing manager, has just received the company's production budget for the first quarter. + January February March Budgeted Production 28,700 28,750 32,750 Budgeted sales of April is 38,000 and its beginning inventory is Unresolved. May month budgeted sales is 26,000. Company policy requires an ending finished goods inventory each month that will meet 25% of the following month's sales volume. Each brick requires 6 pounds of clay, and Maria expects to pay $1.50 per pound of clay in the coming year. Company policy requires an ending direct materials inventory each month that will meet 10% of the following month's production needs. Maria expects to have 15,000 pounds of clay at a cost of $22,500 in inventory at the beginning of the year. Prepare Coronado & Charles's direct materials purchases budget for the first quarter. (Enter price per pound to 2 decimal places, e.g. 52.75.) January February March Quarter 28700 Budgeted production 6 Standard pounds per unit 172200 Production needs 17250 Budgeted ending inventory Total DM required) 15000 Beginning inventory Budgeted purchases (bs) Standard cost per pound Budgeted purchases.cat $ $ $ 28750 6 172500 19650 32750 196500 90200 6 541200 Maria Richard, Coronado & Charles Fabricators' purchasing manager, has just received the company's production budget for the first quarter. + January February March Budgeted Production 28,700 28,750 32,750 Budgeted sales of April is 38,000 and its beginning inventory is Unresolved. May month budgeted sales is 26,000. Company policy requires an ending finished goods inventory each month that will meet 25% of the following month's sales volume. Each brick requires 6 pounds of clay, and Maria expects to pay $1.50 per pound of clay in the coming year. Company policy requires an ending direct materials inventory each month that will meet 10% of the following month's production needs. Maria expects to have 15,000 pounds of clay at a cost of $22,500 in inventory at the beginning of the year. Prepare Coronado & Charles's direct materials purchases budget for the first quarter. (Enter price per pound to 2 decimal places, e.g. 52.75.) January February March Quarter 28700 Budgeted production 6 Standard pounds per unit 172200 Production needs 17250 Budgeted ending inventory Total DM required) 15000 Beginning inventory Budgeted purchases (bs) Standard cost per pound Budgeted purchases.cat $ $ $ 28750 6 172500 19650 32750 196500 90200 6 541200

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Solution January February March Quarter Budgeted production 2... View the full answer