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The following is a Sales budget for RTI Industries Inc. for 2017:
January 3,000
February 4,000
March 6,000
April 9,000
May 15,000
June 20,000
Each unit requires 2.5 pounds of raw materials that are estimated to cost an average of $3.50 per pound. It is the company's policy to maintain a finished goods inventory at the end of each month equal to 20% of next month's anticipated sales. They also have a policy of maintaining a raw materials inventory at the end of each month equal to 25% of the pounds needed for the following month's production. The desired ending direct materials for March is 4,000 pounds.
Required
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