Question: PART FOUR ( 2 0 Points ) Show your work and label all numbers Soster makes and sells buckles. Each buckle uses 1 3 ounce
PART FOUR Points Show your work and label all numbers
Soster makes and sells buckles. Each buckle uses ounce of silver. Budgeted production of buckles in units for the next three months is as follows:
tableMarch,April,MayBudgeted production,
The company wants to maintain monthly ending inventories of silver equal to of the following month's budgeted production needs. Silver costs $ per ounce. Soster pays of purchases in the month purchased, and in the next month. The beginning inventory of silver in March was the budgeted amount.
Required
a Prepare a direct materials purchases budget in ounces for March and April.
b Independent of your answer in Part a assume Soster purchased ounces of silver in March, and ounces of silver in April. Prepare a schedule determining the budgeted payments to silver suppliers in April.
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