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Calculate the May raw materials purchases in dollars

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Question - Rensing Ltd. estimates sales for the second quarter of 2020 will be as follows.

Month Units

April 2,560

May 2,440

June 2,370

The target ending inventory of finished products is as follows.

March 312,050

April 302,210

May 312,170

June 302,320

2 units of material are required for each unit of finished product. Production for July is estimated at 2,800 units to start building inventory for the fall sales period. Rensing's policy is to have an inventory of raw materials at the end of each month equal to50% of the following month's production requirements.

Raw materials are expected to cost $7 per unit throughout the period.

Required - Calculate the May raw materials purchases in dollars.

Reference no: EM132477129

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