Question: Using the provided dataset, follow the instructions to prepare an updated, interactive version of Gains Manufacturings direct materials purchases budget. (Round your answers to 2
Using the provided dataset, follow the instructions to prepare an updated, interactive version of Gains Manufacturings direct materials purchases budget. (Round your answers to 2 decimal places.)
| Line Item Description | Iron | Rubber |
|---|---|---|
| Pounds Required for Planned Production | ||
| 45 lb. bumper plate | fill in the blank 2 | fill in the blank 3 |
| 45 lb. competition plate | fill in the blank 4 | fill in the blank 5 |
| 25 lb. bumper plate | fill in the blank 6 | fill in the blank 7 |
| 25 lb. competition plate | fill in the blank 8 | fill in the blank 9 |
| 50 lb. hex dumbbell, coated | fill in the blank 10 | fill in the blank 11 |
| 50 lb. hex dumbbell | fill in the blank 12 | fill in the blank 13 |
| 30 lb. round dumbbell | fill in the blank 14 | fill in the blank 15 |
| Desired direct materials, end of period | fill in the blank 16 | fill in the blank 17 |
| Total materials available for production | fill in the blank 18 | fill in the blank 19 |
| Estimated direct materials, beginning of period | fill in the blank 20 | fill in the blank 21 |
| Direct materials to be purchased | fill in the blank 22 | fill in the blank 23 |
| Unit price | $fill in the blank 24 | $fill in the blank 25 |
| Budgeted purchases of direct materials | $fill in the blank 26 | $fill in the blank 27 |
| |||||||||||||||||||||
| Direct Material Requirements by Product | |||||||||||||||||||||
| Product Name | Iron (in pounds) | Rubber (in pounds) | |||||||||||||||||||
| 45lb Bumper Plate | 40 | 5 | |||||||||||||||||||
| 45lb Competition Plate | 45 | 0 | |||||||||||||||||||
| 25lb Bumper Plate | 23 | 2 | |||||||||||||||||||
| 25lb Competition Plate | 25 | 0 | |||||||||||||||||||
| 50lb Hex Dumbbell, Coated | 46 | 4 | |||||||||||||||||||
| 50lb Hex Dumbbell | 50 | 0 | |||||||||||||||||||
| 30lb Round Dumbbell, Coated | 28 | 2 | |||||||||||||||||||
| Direct Material Prices | |||||||||||||||||||||
| Direct Material | Price (per pound) | ||||||||||||||||||||
| Iron | $ 0.75 | ||||||||||||||||||||
| Rubber | $ 5.00 | ||||||||||||||||||||
| Direct Material Supplies on hand | |||||||||||||||||||||
| Estimated, beginning | Desired, ending | ||||||||||||||||||||
| Iron (in pounds) | 15000 | 20000 | |||||||||||||||||||
| Rubber (in pounds) | 7000 | 5000 | |||||||||||||||||||
| Estimated Production | |||||||||||||||||||||
| Product Name | Units | ||||||||||||||||||||
| 45lb Bumper Plate | 1000 | ||||||||||||||||||||
| 45lb Competition Plate | 750 | ||||||||||||||||||||
| 25lb Bumper Plate | 400 | ||||||||||||||||||||
| 25lb Competition Plate | 4000 | ||||||||||||||||||||
| 50lb Hex Dumbbell, Coated | 3500 | ||||||||||||||||||||
| 50lb Hex Dumbbell | 3500 | ||||||||||||||||||||
| 30lb Round Dumbbell, Coated | 5000 | ||||||||||||||||||||
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