Prepare a direct materials purchases budget for march

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Reference no: EM13949255

Manning Company produces a variety of labels, including iron-on name labels, which are sold to parents of camp-bound children. (The camps require campers to have their name on every article of clothing.) Each roll consists of 25 yards of paper strip with 1,000 copies of the child's name. Each yard of paper strip costs $0.30. Manning has budgeted production of the label rolls for the next four months as follows:

	Rolls in Units
March	20,000
April	60,000
May	100,000
June	12,000

Inventory policy requires that sufficient paper strip be in ending monthly inventory to satisfy 20 percent of the following month's production needs. The inventory of paper strip at the beginning of March equals exactly the amount needed to satisfy the inventory policy.

Required

Prepare a direct materials purchases budget for March, April, and May showing purchases in units and in dollars for each month and in total.

Reference no: EM13949255

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